Specialist technology staffing company Parity Group announced Tuesday that it was awarded a two-year contract with the Department for Education to support the digital transformation of the Funding and Contracting Service.

Parity says the contract represents a total value of up to £4.5 million over the next two years.

The Funding and Contracting Service is part of the Education and Skills Funding Agency which delivers all school and further education funding in England. It is responsible for managing contracts with training providers and making approximately £6 billion of payments to them per year.

Under the new contract, Parity will support the launch of new products, reshape mature systems and ensure effective interfaces with other Education and Skills Funding Agency systems.

Separately, in November the company had issued a profit warning for the full year ended 31 December 2018 due to a delay in the extension on a large contract in its Parity Consultancy Services business.