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GTY Technology Holdings Inc. (Nasdaq: GTYH) ("GTY"), a leading provider of cloud solutions for the public sector, announced today that GTY business units continue to thrive and work closely with public sector organizations to assist with the challenges they face due to the COVID-19 pandemic.
"The sudden requirement for public sector organizations to work remotely while managing a crisis has proven the value of working with cloud-based solutions," said TJ Parass, CEO of GTY. "Given the uncertainties of the evolving pandemic, public sector organizations need to make decisions quickly to respond to the needs of their communities. GTY’s business units play a crucial role in helping these organizations manage the impact of COVID-19 while remaining effective and accountable."
Year-to-date, GTY has added over 167 new customers across its six business units and has over 350 organizations participating in the COVID-19 Emergency Response programs its business units are offering. This considerable interest signifies the demand for cloud solutions that mitigate the impact of COVID-19 and help public sector organizations achieve better results.
Bonfire, a leading provider of public procurement software, has welcomed 52 new clients and 50 public agencies to its COVID-19 Emergency Response Program to-date in 2020. This growth represents the public sector’s continued strong interest and preference for the Bonfire solution as a key tool to help advance the way public procurement sourcing decisions are made. New clients added to Bonfire’s now 400+ customers include: Delaware Health and Social Services, DE; Richland County, SC; Lee County Schools, FL; and Jacksonville Transportation Authority, FL. Bonfire has also experienced 172% growth year-to-date in vendor and contractor subscribers interested in responding to the thousands of public RFPs, RFQs, and bids available in the Bonfire platform.
CityBase, a government technology company that transforms the way cities connect and do business with constituents, has brought on new clients in state and local governments in 2020. These new clients are using their payment technology and digital services for better constituent and staff experiences as well as to promote business continuity as government buildings were closed. The City of Lawrence, IN has partnered with CityBase to install indoor and outdoor payment kiosks. The city is launching this new self-service payment channel for their constituents to conveniently pay in person 24/7 while reducing person-to-person contact. The City of Sacramento, CA is using CityBase technology to streamline the application process for COVID-19 emergency economic relief.
eCivis is a leading cloud-based grant management system for state, local, and tribal governments. As governments experience the economic impacts of COVID-19, including revenue shortfalls and the need for increased expenditure, the company has seen a significant uptick in customer interest, particularly related to better understanding stimulus funding as well as managing long-term fiscal recovery (post-pandemic). In the past two months, there have been nearly 2,000 total webinar registrants and nearly 7,000 views and downloads for COVID-19 content alone. Additionally, the company’s latest COVID-19 Emergency Response Program Funding Toolkit has helped as many as 300 new state, city, county, territory, and tribal customers maximize grant dollars through the CARES Act, with the ability to clearly delineate COVID-19 related grants through tagging.
Questica, an industry-leading provider of budget, performance, and transparency solutions for the public sector, continues to welcome new clients to their growing roster. The GTY budgeting units, Questica and Sherpa, together have added a total of 38 new clients in 2020, including: The City of New Orleans, LA; Bucks County, PA; Horizon City, TX; the Superior Court of California – Ventura County; and Chemeketa College, OR. Questica’s suite of products empower clients to budget efficiently and collaboratively while working from home, giving them immediate access to the information they need to make data-driven decisions in response to the COVID-19 crisis. In addition, Questica provides budgeting resources, such as white papers, webinars and free software, through their COVID-19 Resource Center to provide best practices and new solutions to public sector organizations.
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 public sector technology companies together to achieve a new standard in stakeholder engagement and resource management. Through its six business units, GTY offers an intuitive cloud-based suite of solutions for state and local governments, education institutions, and healthcare organizations 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; OpenCounter 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. 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) our ability to consummate any proposed transaction with respect to our previously announced review of strategic alternatives; (2) the lack of actionable alternatives that have been identified in connection with the strategic alternative review; (3) risks relating to the substantial costs and diversion of personnel’s attention and resources due to the strategic alternative review; (4) our failure to generate sufficient cash flow from our business to make payments on our debt; (5) our ability to raise or borrow funds on acceptable terms; (6) changes in applicable laws or regulations; (7) the possibility that the company may be adversely affected by other economic, business, and/or competitive factors; (8) the impact of the coronavirus outbreak, or similar global health concerns, on our operations and customer base, particular budgetary constraints on our municipal customers due to substantial emergency expenses; and (9) other risks and uncertainties included in the company’s Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent filings made 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.
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