December 16, 2019
(AUSTIN, TEXAS, December 16, 2019) – GTY Technology Holdings Inc. (NASDAQ: GTYH)(“GTY”), a leading provider of SaaS/Cloud solutions, announces an Innovation Update summarizing the latest solution developments across the GTY family of companies.
“As highlighted in this report, our development plans are built in partnership with our clients to address their evolving challenges,” saidStephen Rohleder, Chairman and CEO of GTY Technology. “Across the GTY portfolio of companies, we’ve introduced new features, services and product lines designed to help our clients move more of their process online. By capturing more of their workflows digitally, we’re not only attracting new clients but also, expanding the business opportunity with our growing client base of more than 2,000 public sector organizations.”
The following report is an overview of solution releases and enhancements from GTY companies spanning August to December 2019:
Bonfire, a leading provider of sourcing and procurement software, expanded revenue streams by introducing Professional Services and a Premium Vendor offering. Bonfire Professional Services supports their growing client base by deliveringIntegration and Data Management services in response to the need for greater data operability and the ongoing effort to digitize legacy data. Bonfire Premium Vendors helps clients increase their vendor pool while at the same time, delivering on the need of the rapidly growing vendor community. Premium Vendor subscribers gain access to a centralized portal of bids available in Bonfire that are intelligently matched specifically for their business. Subscription is available to Bonfire’s growing database of more than 100,000 vendors as well as the large market of external vendors who are looking for public sector business.
CityBase, a financial technology company that digitizes processes, forms, and payments for local government and utilities, made a series of product updates. The CityBase UserProfile lets people personalize how they pay bills and receive services from their local government or utility provider. Households can create secure log-ins to set billing reminders, store preferred payment methods, and select how they want to receive updates. Interactive Voice Response (IVR) is a new payment channel on the CityBase platform that allows residents to check their account status, pay a bill, or request a service by call or SMS text. An additional payment channel, Point of Sale (POS), enables more efficient interactions between customers and cashiers. The new CityBase POS software allows cashiers to assist customers with payments across multiple departments, directly integrating with underlying departmental databases for real-time lookups and posting.
eCivis, the leading cloud-based grant management system for state, local, and tribal governments, has released a standardized grant reporting and advanced customer relationship management features in its full lifecycle grants management system. Federal grant reporting today is administered separately across thousands of grant programs and governed by hundreds of laws and regulations. Legacy tools and inconsistent communication between a government and its thousands of grantees make the grant application and reporting process complex and challenging.Customer-facing systems to support grantees are rarely found in government today. With eCivis' latest feature innovations and launch of FundMax™,comprehensive cost recovery solutions for government, customers are digitally transforming their grants management experience. eCivis' user-friendly software and world-class support empower public sector organizations to simplify grant reporting processes, reduce compliance costs, and now recover revenue left behind.
OpenCounter, a provider of permitting and licensing software, introduced Multi-Step Approvals feature for applications. Previously, users could approve an application only once, regardless of how many departments needed to sign off for approval. With this update, users can set up multiple departments or individuals to review an application before it's officially marked "Approved.” Additionally, Open Counter now offersVersioning functionality enabling users to test changes to fees, permit conditions, and other inputs internally and with staff before making them live to the public. Versioning also saves each unique copy, providing insight into how project costs have changed as fees and regulations change over time.
Questica, an industry-leading provider of budget preparation and management software, has released revamped dashboard and reporting features for its Questica Budget Suite. The new and improved features include the ability to create and share secure dashboards and onscreen reports, table and data visualization options for Smart onscreen reports, and ready-built, editable templates in the Report Center. Clients can spend less time compiling numbers and generating reports, and more time using these new analytic capabilities to view budget data for actionable insights that can help drive priorities and positive outcomes for citizens and stakeholders.
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 business units, 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. www.gtytechnology.com
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 NasdaqStock 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 “RiskFactors” 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.
Senior Vice President, Head of Corporate Development, GTY