Estimated $40 Million Contract to begin June 1, 2025
Fueled by Document Scanning and Related Conversion Services
Intellinetics, Inc. (NYSE American: INLX), a digital transformation solutions provider, is pleased to announce that it has been awarded a five-year contract with a long-term customer for document scanning and micrographic conversions services worth up to an estimated aggregate $40 million in Total Contract Value (TCV). The revenue will be recognized as work is completed on projects spanning the contract period, which runs from June 1, 2025 through May 31, 2030 plus an optional five more extension years.
The contract, the largest in the company’s history, was awarded following a competitive evaluation process. Specific standards and procedures for quality assurance, security, key personnel, and depth and breadth of service were assessed and scored to determine the vendor of choice. The $40 million TCV is based upon the customer’s procurement budget, but subject to customer reduction or termination in its sole discretion during the contract period.
“This achievement reflects Intellinetics’ unparalleled expertise and innovative solutions tailored to meet the complex needs of our customer’s digital transformation initiatives,” stated James F. DeSocio, President & CEO of Intellinetics. “This award renewal with our largest customer positions us well for the next five to ten years, where we can focus that part of our business on continuing to deliver the highest quality services and solutions. We continue to seek other revenue opportunities in and outside of our project-oriented scanning and conversion related services, which we have grown historically and we expect to continue that trend. As we celebrate this milestone success, we remain very focused on our mission to aggressively grow our SaaS solutions as well.”
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