With this new agreement, the National Bank, under their brand, will market payroll services to its clients. CGI remains responsible for creating, maintaining, hosting and managing the back office for the business processing of the banks 8,000 payroll clients. CGI will be streamlining the current systems offering an enhanced, state- of-the-art infrastructure allowing businesses to benefit from a reduction in costs and gain administrative efficiency. Moving forward, CGI will continue to invest in R&D for payroll services. This agreement does not translate into incremental annual revenue for CGI. However, as it is a 10-year deal, CGI estimates that it increases its backlog for the same activities from CDN$25 million to $200 million.
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