GTY Technology Holdings Inc. (Nasdaq: GTYH) (“GTY”), a leading provider of SaaS/Cloud solutions for the public sector, has released an innovation update showcasing product growth across the GTY family of companies: Bonfire, CityBase, eCivis, Open Counter, Questica, and Sherpa.
“Product innovation is necessary for our family of companies to continue providing best-of-breed SaaS solutions to government agencies,” said Stephen Rohleder, President, CEO and Chairman of GTY. “This report demonstrates our continued commitment to solution expansion and in turn, to delivering exceptional value to our public sector clients.”
The following report is an overview of product releases and enhancements produced by the GTY companies spanning January to July 2019:
Bonfire, a leading provider of sourcing and procurement software, released a summer batch of new procurement features to enhance the client experience. The Requested Information Management feature gives project managers full control over how documents and data are organized for vendors who are viewing published opportunities, reducing confusion and error when vendors assemble responses. Custom Events provide a workflow for project owners to officially communicate key dates and milestones to help ensure that their sourcing process is reflected in the Bonfire eSourcing Platform. Proposal Analysis delivers project owners with instant scoring insights with an ability to dig into how criteria weighting, evaluator scores, and vendor strengths and weaknesses come together to impact the final score. Additionally, Bonfire announced industry-specific procurement software packages for Municipal, Higher Education, K-12, Special Districts, Transportation, Utilities, and Healthcare sectors.
CityBase, a financial technology company that digitizes processes, forms, and payments for local government and utilities, made a series of product updates. The first was to launch the new Revenue Management Dashboard to enable real-time data insights on all payments, in one easy-to-use solution. Multi-Agency Kiosks let customers pay for multiple utility bills and government fees in one convenient visit, by bringing multiple payment applications onto a single machine while maintaining independent operations. Lastly, Case Management was added to streamline complex permitting by allowing clients to track all interactions between a city and a given person.
eCivis is a leading cloud-based grant management system for state, local, and tribal governments. With recent focus on passthrough funding and subrecipient management – and critical input from key clients including the State of Arizona – eCivis launched Subrecipient Management 3.0. The functionality provides a formal auditable award process, complete with fund allocation and controls throughout the award workflow. As such, clients can now create compliant program solicitations; review applications and make awards via peer and agency review with custom rubrics; and receive and approve both financial and activity reports from subrecipients. eCivis is working to update the Goals and Metrics module to enable more visibility across organizations, and the Grant Assessment module to enable C-level management access to assess the health of their grant portfolio and determine where intervention may be needed.
Open Counter, a provider of permitting and licensing software, launched their newest module, the Special Events Portal with the City of Cincinnati. The module allows citizens to apply for special events permits online, streamlines the application workflow, and reduces administrative workload for city staff. Additionally, OpenCounter released Online Submittals in Orlando (example available at https://orlando.opencounter.com/permits/tree-removal) to empower cities to intake upwards of a dozen permit application types through online forms. The integrated mapping, real-time fee calculation, quick setup, and overall user experience are currently unmatched by competitors.
Questica, an industry-leading provider of budget preparation and management software, introduced a powerful Advanced Calculation Engine (ACE) as part of the Questica Budget Suite for operating, salary, capital budgets and performance measures. The functionality enables the creation of complex modelling for revenue, projections, and activity-based costing. Questica Budget’s government, education and healthcare users can use ACE to create formulas ranging from a single formula in a cell up to large-scale mathematical models to calculate any kind of budget, such as forecasting for expenses and revenues based on any number of program or service drivers. Additionally, Questica OpenBook released two highly requested features: a Google Analytics integration, and a general-purpose interactive map. Based on our Capital Budget Project Explorer map, this new data visualization can display any geographic data that includes street addresses or latitude/longitude points.
Sherpa Budget introduced Sherpa Forecasting, a highly-configurable forecasting module capable of performing 12 different types of forecasts that can be extended for client-specific needs. Forecasts can be made for both current year variance projections or long-term projections using trend analysis based on historical actuals, budgets, seasonal trends, or client-based inflation factors. Sherpa’s forecasting results are supplemented by budget forms where expenses or revenues that cannot be projected are added, such as operating costs for a future capital project.
For more information about GTY Technology, the GTY family of companies, or investment opportunities, visit www.gtytechnology.com.
About GTY Technology Holdings Inc.
GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY”)) brings leading government technology companies together to achieve a new standard in citizen engagement and resource management. Through its six subsidiaries, GTY offers an intuitive cloud-based suite of solutions for state and local governments spanning functions in procurement, payments, grant management, budgeting, and permitting: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spending decisions; CityBase provides government payment solutions to connect constituents with utilities and government agencies; eCivis offers a grant management system to maximize grant revenues and track performance; Open Counter provides government payment software to guide applicants through complex permitting and licensing procedures; Questica offers budget preparation and management software to deliver on financial and non-financial strategic objectives; Sherpa provides public sector budgeting software and consulting services.
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The company’s actual results may differ from its expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the company’s expectations with respect to future performance and anticipated impacts of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the ability to recognize the anticipated benefits of GTY’s recent business combination transaction, which may be affected by, among other things, competition, the ability of the company to grow and manage growth profitably and retain its key employees; (2) costs related to the business combination; (3) the outcome of the New York and California lawsuits among the company, OpenGov, Inc. and the other parties thereto; (4) the inability to maintain the listing of the company’s common stock on The Nasdaq Stock Market; (5) changes in applicable laws or regulations; (6) the possibility that the company may be adversely affected by other economic, business, and/or competitive factors; (7) any government shutdown which impacts the ability of the company’s customers to purchase its products and services; and (8) other risks and uncertainties included in the company’s registration statement on Form S-1 (File No. 333-229926), including those under “Risk Factors” therein, and in the company’s other filings with the SEC. We caution you that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.