Envisio and Tyler Technologies Announce Strategic Partnership to Transform Local Government Budgeting and Drive Community Outcomes
Envisio and Tyler Technologies (NYSE: TYL) have announced a strategic partnership to transform local government budgeting and improve community outcomes. The collaboration aims to embed strategic priorities into the budgeting process and track priority-based budgeting (PBB) results. This partnership aligns with the Rethinking Budgeting initiative by the Government Finance Officers Association (GFOA).
Key points:
- Tyler will act as a reseller of Envisio in combination with its Priority Based Budgeting solution
- The partnership connects Tyler's PBB program with Envisio's strategic plan and performance management tools
- This collaboration offers a complete solution for local governments to align resources with strategic priorities and increase transparency
Envisio e Tyler Technologies (NYSE: TYL) hanno annunciato una partnership strategica per trasformare il bilancio dei governi locali e migliorare i risultati della comunità. La collaborazione mira a integrare le priorità strategiche nel processo di bilancio e a monitorare i risultati del bilancio basato sulle priorità (PBB). Questa partnership si allinea con l'iniziativa Rethinking Budgeting dell'Associazione dei Funzionari Finanziari del Governo (GFOA).
Punti chiave:
- Tyler agirà come rivenditore di Envisio in combinazione con la sua soluzione di Bilancio Basato sulle Priorità
- La partnership collega il programma PBB di Tyler con il piano strategico di Envisio e gli strumenti di gestione delle prestazioni
- Questa collaborazione offre una soluzione completa per i governi locali per allineare le risorse alle priorità strategiche e aumentare la trasparenza
Envisio y Tyler Technologies (NYSE: TYL) han anunciado una asociación estratégica para transformar el presupuesto de los gobiernos locales y mejorar los resultados comunitarios. La colaboración tiene como objetivo integrar las prioridades estratégicas en el proceso de presupuesto y seguir los resultados del presupuesto basado en prioridades (PBB). Esta asociación está alineada con la iniciativa Rethinking Budgeting de la Asociación de Funcionarios Financieros del Gobierno (GFOA).
Puntos clave:
- Tyler actuará como revendedor de Envisio en combinación con su solución de Presupuesto Basado en Prioridades
- La asociación conecta el programa PBB de Tyler con el plan estratégico y las herramientas de gestión del rendimiento de Envisio
- Esta colaboración ofrece una solución completa para que los gobiernos locales alineen los recursos con las prioridades estratégicas y aumenten la transparencia
Envisio와 Tyler Technologies(NYSE: TYL)는 지역 정부 예산을 혁신하고 지역 사회 결과를 개선하기 위한 전략적 파트너십을 발표했습니다. 이 협력은 예산 과정에 전략적 우선사항을 통합하고 우선사항 기반 예산(PBB) 결과를 추적하는 것을 목표로 합니다. 이 파트너십은 정부 재무 담당자 협회(GFOA)의 예산 재고르기 이니셔티브와 일치합니다.
주요 사항:
- Tyler는 Envisio의 우선사항 기반 예산 솔루션과 결합하여 Envisio의 재판매자로 활동할 것입니다.
- 이 파트너십은 Tyler의 PBB 프로그램을 Envisio의 전략 계획 및 성과 관리 도구와 연결합니다.
- 이 협력은 지역 정부가 자원을 전략적 우선 사항에 맞추고 투명성을 높이기 위한 완전한 솔루션을 제공합니다.
Envisio et Tyler Technologies (NYSE: TYL) ont annoncé un partenariat stratégique pour transformer le budget des gouvernements locaux et améliorer les résultats communautaires. La collaboration vise à intégrer les priorités stratégiques dans le processus budgétaire et à suivre les résultats du budgétisation basée sur les priorités (PBB). Ce partenariat s'aligne avec l'initiative Rethinking Budgeting de l'Association des agents financiers du gouvernement (GFOA).
Points clés :
- Tyler agira en tant que revendeur d'Envisio en combinaison avec sa solution de Budgétisation Basée sur les Priorités
- Le partenariat relie le programme PBB de Tyler au plan stratégique et aux outils de gestion de la performance d'Envisio
- Cette collaboration offre une solution complète pour permettre aux gouvernements locaux d'aligner les ressources sur les priorités stratégiques et d'accroître la transparence
Envisio und Tyler Technologies (NYSE: TYL) haben eine strategische Partnerschaft angekündigt, um die Budgetierung der lokalen Behörden zu transformieren und die Ergebnisse der Gemeinschaft zu verbessern. Die Zusammenarbeit zielt darauf ab, strategische Prioritäten in den Budgetierungsprozess einzubetten und die Ergebnisse des prioritätenbasierten Budgets (PBB) zu verfolgen. Diese Partnerschaft steht im Einklang mit der Initiative „Rethinking Budgeting“ der Government Finance Officers Association (GFOA).
Wichtige Punkte:
- Tyler wird als Wiederverkäufer von Envisio in Kombination mit seiner Lösung zur Prioritätenbasierten Budgetierung agieren
- Die Partnerschaft verbindet das PBB-Programm von Tyler mit dem strategischen Plan und den Performance-Management-Tools von Envisio
- Diese Zusammenarbeit bietet eine vollständige Lösung für lokale Regierungen, um Ressourcen mit strategischen Prioritäten in Einklang zu bringen und die Transparenz zu erhöhen
- Strategic partnership with Envisio expands Tyler Technologies' product offerings
- Alignment with GFOA's Rethinking Budgeting initiative positions Tyler as an industry leader
- Potential for increased market share in local government budgeting solutions
- None.
Insights
This partnership between Envisio and Tyler Technologies is strategically significant but likely neutral for Tyler's stock in the short term. The collaboration enhances Tyler's product offering in the local government sector, potentially strengthening its market position. However, as a reseller agreement, it may not immediately impact Tyler's financials substantially.
Long-term implications could be more positive if the partnership leads to increased market share and higher-value contracts. The focus on modernizing government budgeting aligns with current trends, which could drive demand. Investors should monitor future earnings reports for signs of revenue growth or margin expansion resulting from this partnership.
This partnership addresses a critical need in local government operations. The integration of priority-based budgeting with strategic planning and performance management tools could significantly improve efficiency and transparency in public sector financial management. It's aligned with the GFOA's Rethinking Budgeting initiative, giving it credibility and potential for widespread adoption.
The collaboration could lead to better resource allocation and improved community outcomes, which are increasingly important metrics for local governments. However, implementation may face challenges due to entrenched practices and potential resistance to change in government institutions. Success will depend on effective change management and demonstrable results in early adopter communities.
Collaboration brings together tools and services for priority-based budgeting, strategic planning and performance management, in line with Rethinking Budgeting guidelines
Both Envisio and Tyler are committed to advancing the Rethinking Budgeting initiative put forward by the Government Finance Officers Association (GFOA), and created in partnership with the International City/County Management Association (ICMA) and the National League of Cities (NLC). Envisio and Tyler team members have been key contributors to the Rethinking Budgeting recommendations, helping to shape the improved budgeting "operating system" for local government, now formally adopted by GFOA. In collaboration with GFOA, they helped to develop a readiness assessment to support local governments in understanding and initiating steps to rethink their budgets.
This partnership enables Tyler to act as a reseller of Envisio in combination with Tyler's Priority Based Budgeting solution furthering its commitment to improving local government budgeting.
Local governments increasingly recognize the need to modernize decades-old, line-item budget processes to increase responsiveness to changing community needs. PBB, budget transparency, and alignment with strategic plans are core to budget transformation.
PBB encourages government organizations to look at their resource flow and align budgets with goals, ultimately supporting better outcomes and increasing public understanding of how taxpayer dollars are spent. But progress against goals must be measured and managed to ensure outcomes are achieved and results are visible to residents and local government leaders.
"At the heart of Rethinking Budgeting is the ability for local governments to reallocate resources based on strategic priorities, tie those budget allocations to an actionable plan, measure results, and then adjust where necessary," said Stefan Baerg, Chief Revenue Officer at Envisio. "Envisio provides a powerful framework for organizations to execute their outcomes-focused budgets and a platform to share their results with residents to foster engagement and trust."
By connecting Tyler's priority-based budgeting program and allocation data with Envisio's strategic plan and performance management tools and services, local governments can now align their resources with strategic priorities, drive results, and grow transparency with staff, elected officials, and residents.
"Everything leads back to the budget—it's the foundation for a community's ability to enhance its outcomes," said Chris Fabian, Tyler's senior director of product strategy for ERP Budgeting. "Priority Based Budgeting complements Envisio by embedding strategic priorities into the budgeting process, while Envisio amplifies the impact of priority-based budgeting by managing, tracking and showcasing the results. This partnership offers a complete, end-to-end solution for local governments committed to driving meaningful, measurable change."
About Envisio
Envisio is the most widely used strategic planning and performance management solution in local government. Cities, counties, school districts, and public sector organizations use Envisio to execute plans, measure and report on performance, make evidence-based decisions, and build trust and transparency with their communities. More information on Envisio can be found at envisio.com.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) is a leading provider of integrated software and technology services for 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 44,000 successful installations across 13,000 locations, with clients in all 50 states,
CONTACT: Stacey Hartmann, stacey@keetonpr.com
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SOURCE Envisio
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