New budgeting approach will enable improved efficiency and community transparency
PLANO, Texas--(BUSINESS WIRE)--Mar. 12, 2024--
Tyler Technologies, Inc. (NYSE: TYL) announced today it has signed an agreement with Collier County, Florida, for Tyler’s Priority Based Budgeting solution, which will help improve the performance and efficiency of the county’s budget by removing the common limitations of line-item budgeting.
“We are very excited to work with Tyler to transform our current budget process with Priority Based Budgeting,” said Collier County Commissioner Chris Hall. “We will be able to achieve improved budget priority alignment, efficiency, cost containment, accountability, and most importantly, transparency to our staff and our community.”
The priority-based budgeting approach aligns resources and funding with community priorities and outcomes, shifting the focus to accountability for program results. This creates transparency and a better understanding of the true cost of each program.
With the implementation of Tyler’s Priority Based Budgeting solution, the county will be able to transform its budget process and help fulfill the priorities of its strategic plan. This includes safeguarding taxpayer money by promoting fiscal stewardship and promoting data-driven decision-making. In addition, Tyler’s Priority Based Budgeting includes machine learning capabilities to build predictive analytics that create an improved budget model, leading to targeted predictions that influence programs and outcomes.
Following Tyler’s acquisition of ResourceX in October 2023, Tyler added Priority Based Budgeting to its ERP portfolio, elevating Tyler’s offerings in the public sector budgeting space. Collier County joins a growing number of local governments adopting priority-based budgeting methodologies, in line with budgeting best practice recommendations by the Government Finance Officers Association (GFOA).
“We’re pleased to bring Tyler’s Priority Based Budgeting solution and methodology to Collier County,” said Chris Webster, president of Tyler’s ERP & Civic Division. “This approach to budgeting brings an increased speed of implementation through its machine learning capabilities allowing the county to make important budget decisions that align with its priorities and goals. We are proud to support Collier County as it creates meaningful outcomes for its community.”
With a population of roughly 392,000, Collier County is located at the southern end of Florida’s Gulf Coast and includes the city of Naples.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate efficiently and transparently with residents and each other. By connecting data and processes across disparate systems, Tyler’s solutions transform how clients turn actionable insights into opportunities and solutions for their communities. Tyler has more than 40,000 successful installations across nearly 13,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including Government Technology’s GovTech 100 list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.
#TYL_Financial
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240312643816/en/
Jennifer Kepler
Tyler Technologies
972.713.3770
Media.team@tylertech.com
Source: Tyler Technologies
