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August 23, 2021
(KITCHENER, ONTARIO, August 23, 2021) – Bonfire Interactive Ltd. (“Bonfire”), a business unit of GTY Technology Holdings Inc. and a leader in eProcurement, strategic sourcing, and contract management solutions, today announced the release of its annual State of Public Sourcing Report, a benchmarking study which provides insights and analysis of procurement in the public sector. Bonfire is a subsidiary of GTY Technology Holdings Inc. (Nasdaq: GTYH) (“GTY”), a leading provider of cloud solutions for the public sector.
The report is based on anonymized data from the Bonfire platform, consisting of tens of thousands of projects from more than 400 North American public sector organizations, to better understand the current state of public procurement. This year’s report, titled “Back to Business: Fast and Focused,” provides insights into how public procurement teams have ramped up operations in 2021. It also highlights the public sector’s new priorities, strategies, and goals after putting many projects on hold to focus on emergency procurements in 2020.
“This year’s report indicates that public sector project volume has practically returned to what it was pre-pandemic, which aligns with anecdotes we’ve heard from our customers,” said Bonfire CEO Omar Salaymeh. “Priorities such as vendor diversity, work-from-anywhere options, and finding new ways to make public dollars go further are becoming a major focus for most public procurement teams, which we anticipate will in turn provide opportunities for a bigger community of vendors. It’s clear that 2020 was a turning point for public procurement and that while project volume has returned, priorities have shifted, and the industry will not simply go back to the way it was before the pandemic.”
The report was officially released today during the NIGP Forum, the Institute for Public Procurement’s annual conference dedicated to connecting procurement communities. Attendees of the conference are invited to join Bonfire’s virtual panel session at 2:15 PM ET on Monday August 23, where procurement leaders from Barnstable County and Metropolitan Transportation Commission share their on-the-ground insights on the report’s findings.
Key findings from the report include:
The full 2021 State of Public Sourcing Report is available to download for free by visiting the Bonfire website.
About Bonfire Interactive Inc.Bonfire Interactive Inc. (“Bonfire”) is a business unit of GTY Technology Holdings Inc. and a leader in strategic sourcing and procurement software. Bonfire empowers organizations to find the right vendors and make the right purchasing decisions with ease and confidence. 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. Bonfire is an award-winning solution recognized by industry-leading outlets including Gartner, GovTech, Spend Matters, Best in SaaS, and the International Business Awards.
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 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.
Forward-Looking StatementsThis 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) the impact of the COVID-19 pandemic, or other public health crises, on our operations, our customers and the economy; (2) the risk that the ongoing integration of the businesses acquired in our business combination disrupts current plans and operations; (3) 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; (4) our failure to generate sufficient cash flow from our business to make payments on our debt; (5) changes in applicable laws or regulations; (6) the possibility that the company may be adversely affected by other economic, business or competitive factors; and (7) other risks and uncertainties included in our Annual Report on Form 10-K for the year ended December 31, 2020 and our subsequent filings with the Securities and Exchange Commission. 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.
Media Contact:Alloy Communications for GTY Technology[email protected]240-630-2653