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Bonfire Strategic Sourcing Platform Included in Gartner Market Guide for E-Sourcing Applications

October 21, 2020

Leading analyst firm states that “Application leaders responsible for strategic sourcing and procurement applications should deliver savings and improve productivity by deploying an e-sourcing application to negotiate your strategic spend categories,” and labels Bonfire as a Representative Vendor

 

(KITCHENER, ONTARIO, October 21, 2020) — Bonfire Interactive Ltd. (“Bonfire”), a subsidiary of GTY Technology Holdings Inc. and a leader in strategic sourcing and procurement software, announced today the Company’s inclusion in the newly released “Market Guide for E-Sourcing Applications,” published by Gartner in June 2020, the world’s leading research and advisory company. 

Gartner’s “Market Guide for E-Sourcing” offers an overview of the state of e-sourcing in 2020 and outlines predictions about how COVID-19 will impact the market. A Representative Vendor profile of Bonfire is included and the Bonfire Strategic Sourcing Platform is mentioned in the Market Guide. The company is also listed as an Example Vendor for public sector sourcing.

Despite the anticipated decline, application leaders should invest in an e-sourcing application to position the organization to weather the economic downturn by delivering cost savings,” the Market Guide reports. 

“Since March we have offered the Bonfire platform free of charge for three months, to help public sector organizations save money by digitizing and optimizing their sourcing process,” said Bonfire CEO Corry Flatt. “We’ve seen firsthand the cost savings that our platform provides public agencies. We’re honored that Gartner has recognized Bonfire and believe it validates the company’s role in positioning organizations to weather any future economic uncertainty.” 

Gartner reports that “e-sourcing is one of the first modules that organizations implement as part of their digital transformation in procurement. This is because the solution provides hard-dollar ROI, is relatively quick to implement and impacts few stakeholders (primarily sourcing professionals).” Most notably, Gartner forecasts that “over the next five years, both large and midsize organizations will increase their investment in business-critical software applications such as e-sourcing to improve their ability to survive future economic downturns.”   

Gartner subscribers may view the full Market Guide for E-Sourcing Applications here.

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About Bonfire Interactive Inc.

Bonfire Interactive Inc. (“Bonfire”) is a business unity of GTY Technology Holdings Inc. and a leader in strategic sourcing and procurement software. Bonfire brings procurement online, ensuring 100% compliance, reducing cycle times, and improving transparency. Through the power of tools optimized for collaboration and in-app access to RFP insights and templates (surfaced from Bonfire’s library of 40,000+ projects), Bonfire unlocks procurement’s potential to drive greater agency impact, achieve better outcomes, and engage colleagues along the way. Bonfire’s proven history of customer-driven innovation is trusted by hundreds of public procurement teams across North America.

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.