Fort Worth, Texas Modernizes Its Budgeting Process With Questica

Rhea-AI Summary

Questica, a subsidiary of GTY Technology Holdings (NASDAQ: GTYH), has been chosen to provide budgeting software for Fort Worth, TX, which operates a $1.7 billion budget. The city aims to enhance its budget management through Questica’s suite, transitioning from manual to cloud-based processes. This will increase transparency, accountability, and promote data-driven decision-making. The implementation is set to streamline budget operations and improve public engagement, ultimately supporting Fort Worth's strategic priorities for growth.

Positive

• Selected by Fort Worth, TX, to provide budgeting software, indicating strong demand for Questica's solutions.
• Implementation of cloud-based budgeting process to enhance efficiency and transparency.
• Support for data-driven decision-making enabling the city to allocate resources effectively.

Negative

• None.

12th largest city in the US to leverage entire suite of Questica solutions to support continued growth

BOSTON--(BUSINESS WIRE)-- Questica Inc., the leading public sector budgeting solutions provider, today announced that it has been selected to provide new budgeting software to the City of Fort Worth, TX. Questica is a subsidiary of GTY Technology Holdings Inc. (Nasdaq: GTYH) (“GTY”), a leading provider of cloud solutions for the public sector.

As one of the largest, fastest growing cities in the US, operating a $1.7 billion budget, the City of Fort Worth needed an effective, accessible, and transparent process for managing its budget. Municipal leaders were looking for an efficient way to make budget changes, access and leverage budget data, and publish salary changes, while reducing the overall burden on staff. To achieve this, the city purchased the entire suite of Questica solutions including Questica Budget, Questica OpenBook, Budget Book powered by Workiva, and Citizen Engagement, powered by Balancing Act.

Questica’s purpose-built budgeting platform will support Fort Worth’s budget transition from time-intensive manual processes to a comprehensive, cloud-based system. The unified solution will not only increase transparency and accountability throughout the budgeting process but will support greater forecasting and scenario planning features that enable data-driven decisions.

“Fort Worth is a dynamic, growing city and we need technology in place that will promote decision making that supports the city’s strategic priorities,” said Mark McAvoy, City of Fort Worth. “Streamlining the budget process, while easing access to information and improving the tools we use to engage our customers and residents all help to increase public accountability. Questica not only gives us those capabilities but will enable our staff to spend more time using data to find solutions to important problems rather than maintaining the system.”

“As cities experience periods of growth or make significant changes such as integrating ARPA funding into their budget, they’re finding that siloed processes aren’t keeping up with the pace and aren’t providing the level of granular detail they need,” said Craig Ross, CEO of Questica. “As one of the largest cities in the US, Fort Worth is a great example of a thriving community at scale, and this is an ideal time to harness its own data to make more informed and transparent decisions. We are proud of the fantastic customer base we’ve established in Texas, and we’re thrilled to expand that network with Fort Worth.”

About Questica

For over 20 years, Questica has partnered with public sector organizations to enable data-driven budgeting and decision-making, while increasing data accuracy, productivity and improving stakeholder trust. Over 700 organizations are using Questica’s budgeting, performance, transparency and engagement software solutions. For more information about Questica, visit questica.com.

About GTY Technology Holdings Inc.

GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY”) brings leading public sector technology companies together to achieve a new standard in stakeholder engagement and resource management. Through its six business units, GTY offers an intuitive cloud-based suite of solutions for state and local governments, education institutions, and healthcare organizations spanning functions in procurement, payments, grant management, budgeting, and permitting: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spending decisions; 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; OpenCounter 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 Statements

This 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 public health crises, epidemics and pandemics such as the COVID-19 pandemic on our operations, our customers and the economy, including the duration, spread and severity of such crises, and variants, vaccinations, treatments, testing and recurrences; (2) the costs of acquisitions and the risk that the ongoing integration of the businesses acquired in our business combination and any subsequent acquisitions disrupts current plans and operations; (3) our ability to fully recognize the anticipated benefits of the business combination and any subsequent acquisitions, which may be affected by, among other things, competition and the ability of the combined company to grow and manage growth profitably; (4) our ability to attract, retain, and motivate key employees and, if they depart, to recruit, hire, and motivate replacements with comparable or better knowledge, skills and abilities; (5) our failure to generate sufficient cash flow from our business to make payments on our debt; (6) our ability to raise or borrow additional funds on acceptable terms; (7) changes in applicable laws or regulations and the adoption of new accounting standards, statements and interpretations; (8) legal proceedings and investigations that could harm our business, including those relating to former special purpose acquisition companies; (9) the possibility that the company may be adversely affected by other economic, business or competitive factors, including inflation; and (10) other risks and uncertainties included in our Annual Report on Form 10-K for the year ended December 31, 2021 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, except as required by applicable securities laws.

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Media:

Kate Nesbitt

Kate@helloalloy.com

(571) 249-5503

Source: GTY Technology Holdings Inc.

FAQ

What recent contract did GTYH announce with Fort Worth?

GTYH's subsidiary, Questica, was selected to provide budgeting software for Fort Worth, TX.

What is the size of Fort Worth's budget mentioned in GTYH's press release?

Fort Worth operates a budget of $1.7 billion.

How will Questica's software impact Fort Worth's budgeting process?

The software will transition Fort Worth from manual to cloud-based budgeting, increasing efficiency and transparency.

What is the purpose of implementing Questica's solutions in Fort Worth?

The solutions aim to streamline the budgeting process, improving public accountability and data access.