Itella Information gets contract worth over EUR 8 million

Itella Information and the State Treasury have today signed an important service contract. The service contract is worth over EUR 8 million and it will cover Finland’s central government’s invoice forwarding services for seven years. The new contract will be valid from 1 December 2012 and end on 30 November 2019.

This contract is very important for Itella Information as it is worth over EUR 8 million. The significance of the acquisition is increased as the contract period is seven years, which is longer than the previous contract period. “We were the central government’s payment transaction operator also during the previous contract period. We are very pleased to be able to continue the automation of the central government’s financial management and development of its electronic invoicing. Itella Information and the Finnish central government have carried out extraordinary work together in this area as global pioneers in electronic invoicing,” says Jari Annala, Vice President, E-Services Business Unit, Itella Information.

The new contract will allow the State Treasury to seamlessly continue its transition to electronic invoice forwarding and thus make operational and financial savings. Finnish taxpayers will ultimately benefit from this.
“Itella Information’s service package was the most affordable based on overall costs. In the comparison of offers we took quality factors, security requirements and price into consideration. The longer contract period will improve our prospects of continuously developing and utilising these services,” says Mikko Kangaspunta, Financial Director, State Treasury.

Further information:
Itella Information: Jari Annala, tel. +358 (0)400 338 585, jari.annala@itella.com
The State Treasury: Mikko Kangaspunta, tel. +358 (0)9 77 251, mikko.kangaspunta@valtiokonttori.fi

Itella Information provides financial process services and cash flow automation solutions that improve customers’ profitability and agility, and facilitate their transition to the e-world. The services cover all aspects of financial management: from purchase order to payment and from sales order to management of incoming cash flows, plus a full range of accounting and payroll services. With benefits of scale, automated processes and best practices, the company manages its customers’ financial processes in an efficient, professional and flexible manner.
Itella Information operates in 11 European countries and has an extensive global partner network. The company employs more than 2,000 people and the 2011 turnover was EUR 273.7 million. Itella Information is part of the Itella Group. www.itella.com/information

The State Treasury is a multidisciplinary government agency with 550 employees. It produces internal corporate services for central government, such as financial, personnel administration and IT services, administers state funds and loans and is responsible for the government's central bookkeeping. The State Treasury also grants military injury, crime damage and accident compensations and administers state guarantees for loans as well as interest subsidies. The State Treasury handles statutory employment pension, accident and indemnity insurances and insurance-related employer services of government agencies and supports activities to maintain employees' ability to work. The State Treasury's main office is located in Helsinki but it also has offices in Hämeenlinna and Lappeenranta.