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May 28, 2019
Out-of-the-box sourcing software now available for Municipal, Higher Education, K-12, Special Districts, Transportation, Utilities, and Healthcare
(KITCHENER, ONTARIO, May 28, 2019) – In continuing their mission to transform procurement, Bonfire Interactive Ltd. (“Bonfire”), a subsidiary of GTY Technology and a leader in strategic sourcing and procurement software, has taken the next step by tailoring their existing solution with out-of-the-box packages for public-sector industries. These predetermined packages empower procurement teams across North America to leverage sourcing and procurement software that is designed to handle their specific needs and processes.
Bonfire leveraged data from within its platform to collect key insights across their client base of 300 accounts spanning multiple verticals to determine functions that are most commonly used across industries. Client meetups, user groups, and market research were conducted to collect feedback and shape final packages and feature lists.
“Outsiders tend to view the Public Sector as one homogenous entity, but in reality, it is a broad term that covers a rich and diverse set of organizations, each with unique requirements, regulations, and priorities. This is especially true in procurement, where different organizations buy very different things according to very different processes. For instance, a public utility doesn’t just differ in what they buy compared to, say, a municipality or public hospital or state college or federal environmental agency; it also differs in how they buy, given the complexity of their different projects, regulations, and stakeholders,” said Corry Flatt, CEO at Bonfire. “One-size-fits-all procurement software is often provided as the default approach, but a new standard needs to be set. We believe sourcing software should be hand-tuned to help teams succeed in their unique context which is why we’re excited to introduce industry-specific packages of the Bonfire solution.”
Bonfire’s industry-specific packages will provide a better user experience for clients, ensuring a flexible and easy-to-use workflows for their sourcing activities. Below is an overview of the Bonfire sourcing and procurement software packages:
Bonfire for Municipalities is sourcing software built for cities and counties that offers a standardized process for RFPs that enables teams to achieve 100% compliance. Procurement teams can digitally solicit bids, automatically aggregate information, and distribute proposal documents to relevant evaluators to review and score in-browser. Remove the administrative headache, run more projects in less time, and deliver greater value to citizens with Bonfire for Municipalities.
Bonfire for Higher Education is sourcing software that manages strategic, complex RFP and bid evaluations with ease – a process typically left to manual spreadsheets, emails and shared drives. Release proposal documents only to relevant evaluators to review and score in-browser. When larger amounts of qualitative information need to be collected and reviewed, built-in tools make it easy to compare responses side-by-side. Provide staff and faculty with timely service, ensure smooth online collaboration with stakeholders, and add more value to campuses with Bonfire for Higher Education.
Bonfire for K-12 is sourcing software built to help K-12 procurement teams run faster RFx projects that get better value for their students. Create a structured, end-to-end process for bids and RFPs to provide visibility and control in the sourcing workflow. Easily collaborate with stakeholders in different locations, optimize order lists, and quickly filter, calculate, and sort pricing data. Get all stakeholders on the same page, meet deadlines every time, and make student-first buying decisions with Bonfire for K-12.
Bonfire for Special Districts is sourcing software built to support local government – from fire, to parks, to libraries, to housing. Designed to support the day-to-day workflow of procurement professionals, Bonfire is an intuitive, cloud-based platform that supports the entire sourcing process from posting, receiving, evaluating and awarding bids and RFPs. All activities automatically maintain audit trails to demonstrate compliance and air-tight auditability. Build a consistent, repeatable sourcing process, run faster bids and RFPs, and maximize available funds through best-value decisions with Bonfire for Special Districts.
Bonfire for Transportation is sourcing software built for the unique needs of mass transit, airport authority, and port authority procurement teams. The bid and RFx workflow automatically maintains audit trails to easily demonstrate grants compliance, while procurement teams can rest assured knowing they have the tools necessary to complete projects in-house, rather than defaulting to cooperative contracts with suboptimal solutions. Simplify and accelerate the RFP process, unlock effortless compliance, and evaluate complex projects in less time with Bonfire for Transportation.
Bonfire for Utilities is the only sourcing software built to fulfill the unique needs of water, gas, and energy utilities procurement teams. Remove the risk for errors, missed timelines, and misalignment with internal clients by moving your workflow into a cloud-based solution. Bonfire is easy to use, enables faster evaluations, and simplifies vendor management through out-of-the-box functionality. Gain speed and simplicity in the bid and RFP process and evaluate complex technical requirements faster with Bonfire for Utilities.
Bonfire for Healthcare is sourcing software built for healthcare buyers. Solicit and receive detailed proposals. Then, collaborate with clinical staff, physicians, and other stakeholders to distribute proposals digitally along with Conflict of Interest declarations. From simple bid to complex evaluations, subject-matter-experts can score in-browser, anytime, anywhere. Questionnaires can be used to structure responses and compare them side-by-side – even for projects with hundreds of evaluation criteria. Drive better value for patients and eliminate administrative overhead with Bonfire for Healthcare.
Bonfire for Commercial is the most flexible, easy-to-use sourcing software on the market. Delivering an average cost savings of 12% on projects and two-times faster project cycle times, the Bonfire for Commercial package is a best-of-breed solution recognized on the Spend Matters 50 to Watch list and named a 2018 Gartner Cool Vendor.
The Bonfire sourcing and procurement software is a cloud-based solution that supports the entire vendor lifecycle from sourcing to vendor performance to contract management. Register for a live demo today to see Bonfire in action.
About Bonfire Interactive Inc.
Bonfire Interactive Inc. (“Bonfire”) is a subsidiary of GTY Technology Holdings Inc. (NASDAQ: GTYH), and a leader in strategic sourcing and procurement software. Bonfire empowers organizations to make the right purchasing decisions. With tools to support the entire vendor lifecycle (sourcing, contract management, and vendor performance), Bonfire goes beyond traditional mechanics of standard procurement suites to make complex decision-making easy. The combination of flexible technology and world-class customer service makes Bonfire the solution of choice for both public and private sector organizations of all sizes around the globe. Bonfire was named a 2018 Gartner Cool Vendor and proudly reports a client retention rate greater than 96 percent. www.goBonfire.com.
About GTY Technology Holdings Inc.
GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY”)) brings leading government technology companies together to achieve a new standards 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 spend; 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 combined company’s actual results may differ from GTY’s and the combined company’s 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 combined 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 combined company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the risk that the business combination disrupts current plans and operations; (2) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (3) costs related to the business combination; (4) the outcome of the New York and California lawsuits among the Company, OpenGov, Inc. and the other parties thereto, as well as any other legal proceedings that may be instituted against the combined company in connection with the business combination; (5) the inability to maintain the listing of the combined company’s common stock on The Nasdaq Stock Market; (6) changes in applicable laws or regulations; (7) the possibility that GTY may be adversely affected by other economic, business, and/or competitive factors; (8) any government shutdown which impacted the ability of customers to purchase GTY’s products and services; and (9) other risks and uncertainties included in the final proxy statement/prospectus filed with the Securities and Exchange Commission (the “SEC”) on January 31, 2019 , including those under “Risk Factors” therein, and in GTY’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.
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