Science & Technology
Science and Technology
Science and Technology
Wed, January 28, 2009 Tyler Technologies Signs Financial Management Software Contracts with Two California Special Districts
DALLAS--([ BUSINESS WIRE ])--Tyler Technologies, Inc. (NYSE: TYL) will provide the Riverside County Transportation Commission (RCTC) and the San Bernardino Associated Governments (SANBAG), both in California, with Tyler's financial management solution. The contracts include Project Accounting and Contract Management applications that respond to the specific needs of special districts.
Based on the agreements, RCTC and SANBAG will implement a variety of products from Tyler's EDEN financial management solution, including core financial and human resource applications. In addition to software licenses, the contracts include related professional services, ongoing maintenance and support.
SANBAG, which is the council of governments and transportation planning agency for San Bernardino County, has also purchased Tyler Output Processor. RCTC, which is responsible for all aspects of region-wide planning for Riverside County's transportation, will implement Tyler Content Manager Limited Edition, as well as Accounts Payable and Contract Management with Web extensions. RCTC will deploy its Tyler applications using the executive dashboard option.
Tyler's Project Accounting and Contract Management applications are of particular importance to meeting the unique needs of RCTC and SANBAG. Project Accounting will provide the agencies with multi-year, multi-phase project tracking and reporting, as well as the ability to carry forward from one budget year to the next. Tyler's application supports multiple internal and external funding, including state measures and federal and state grants. Both special districts will be able to prioritize funding sources and define percentages with the revenue allocation feature. The system also simplifies the reimbursement process by automating the creation of general journal entries and accounts receivable invoices for reimbursement requests.
Tyler's Contract Management module will benefit RCTC and SANBAG with its ability to integrate multi-year contracts with projects in a many-to-many relationship. The application automatically withholds, tracks and releases retainages. It also supports subcontractors and minority participation reporting and tracks contractor insurance.
"SANBAG liked Tyler's ability to provide decision-makers with up-to-the-minute financial information on projects," said Bill Stawarski, SANBAG chief financial officer. "Access to daily project accounting data is a requirement for effective project management, and the Tyler software offers a strong fund package that provides this functionality."
"The Commission's responsibility to increasing needs and expectations from staff, vendors, consultants, and citizens requires improved access to information that will alleviate the strain of piecing together information from many sources," commented Michele Cisneros, RCTC accounting & HR manager. "Our expected efficiency gains include an automated paperless workflow system, advanced project accounting, multi-year budgeting, multi-year contract management, grant tracking, and readily available scanned images which can be retrieved by all users. We like the drill-down features to the originating transactions, image attachments, electronic approval process, and dashboard as well."
"Tyler is pleased to meet the unique needs of special districts such as SANBAG and RCTC," stated Jeff Green, president of Tyler's EDEN Financial Management Solutions. "The features and functionality Tyler's financial management solution offers are invaluable to special district accounting departments, enabling them to operate with enhanced efficiency. We welcome these new clients and look forward to forming new partnerships with similar special districts across California."
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler's client base includes more than 7,000 local government offices throughout all 50 states, Canada, Puerto Rico and the United Kingdom. Tyler has been named one of "America's 200 Best Small Companies" for two consecutive years by Forbes Magazine and one of "America's 100 Most Trustworthy Companies" by Audit Integrity, an independent research firm. More information about Tyler Technologies can be found at [ www.tylertech.com ].
Tyler Technologies, Inc. has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying theforward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economicconditions, changes in the budgets and regulatory environments of the Company's customers, risks associated with the development of new products and the enhancement of existing products, theability to attract and retain qualified personnel, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
