State of New Jersey Using Tyler Technologies’ Solution to Understand Economic Data

Rhea-AI Summary

Tyler Technologies (NYSE: TYL) has successfully implemented its Economic Intelligence solution for the state of New Jersey, aiding in economic recovery post-COVID-19. This tool integrates data from partners like SafeGraph and Affinity Solutions to analyze economic trends and support effective allocation of American Rescue Plan Act funds. By anonymizing consumer spending data, it provides comprehensive insights for state leadership, enabling better policy decisions regarding revenue regeneration and job protection. The solution enhances data visibility, crucial for planning economic recovery strategies.

Positive

• Successful implementation of Economic Intelligence solution in New Jersey.
• Partnerships with SafeGraph and Affinity Solutions enhance data-driven decision-making.
• Anonymized consumer spending data provides insights for budget forecasting and economic activity.

Negative

• None.

Tyler’s Economic Intelligence helps state make decisions to positively impact economic growth

PLANO, Texas--(BUSINESS WIRE)-- Tyler Technologies, Inc. (NYSE: TYL) today announced that the state of New Jersey Office of Information Technology has successfully gone live with the Economic Intelligence solution. Data acquired from partner aggregators including SafeGraph and Affinity Solutions integrates with Tyler’s Data & Insights platform so that the state of New Jersey can analyze and understand economic trends and determine how to deploy American Rescue Plan Act (ARPA) funds effectively.

“The pandemic has significantly impacted small business revenue and consumer spending habits, and we needed a tool that would help us easily analyze how these metrics have impacted our state’s overall economic picture,” said Poonam Soans, chief data officer for the state of New Jersey. “We are excited to have implemented the Tyler Economic Intelligence solution, which gives our leadership a single, comprehensive view of the critical third-party data that is central to our economic recovery and understanding the ways in which New Jersey’s recovery from COVID-19 progresses.”

Tyler’s partnerships with SafeGraph, Affinity Solutions, and others have allowed Tyler to develop a turn-key, data-driven solution for recovery. Tyler’s Economic Intelligence uses authoritative business data from these third parties to provide decision support models and built-in analysis for New Jersey’s leadership. Additionally, consumer spending data is anonymized and aggregated and made available to the state to give visibility into budget forecasting, revenue, and economic activity.

“The integration of Affinity’s anonymized credit and debit card purchase data into Tyler’s platform gives government leaders a highly accurate view of local consumer spending,” said Phil Lore, chief revenue officer of Affinity Solutions. “The ability to break out purchase behavior across their local geographies and spend categories will help state leaders make more data informed policy decisions.”

“Our partnership with Tyler makes critical geospatial and consumer insights data even more accessible to government agencies,” said Ross Epstein, vice president of New Projects, SafeGraph. “Our experience with both private and public sector clients show that this type of economic data helps them make better decisions for their stakeholders.”

Not only does this data measure current economic conditions, but it can also be used to inform and drive policy change and ensure equitable uses of funding. New Jersey’s leadership is now using Tyler’s Economic Intelligence to make better decisions as they plan to revive businesses, restore revenue, stimulate investment, protect jobs, and continue to support social programs in a post-pandemic environment.

“We know that many state and local governments depend on sales taxes, payroll taxes, and business license fees as a core source of revenue, and the pandemic has negatively impacted those revenue sources,” said Saf Rabah, vice president of Data Solutions for Tyler. “We’re thrilled to bring the state of New Jersey more visibility into the many data points around consumer spending and small business data so they can better inform their recovery actions.”

About Tyler Technologies, Inc.

Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler's end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler's solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 37,000 successful installations across more than 12,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including Government Technology's GovTech 100 list and Forbes' "Most Innovative Growth Companies" list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220315005119/en/

Jennifer Kepler

Tyler Technologies

972.713.3770

Media.team@tylertech.com

Source: Tyler Technologies, Inc.

FAQ

What is Tyler Technologies' Economic Intelligence solution?

Tyler Technologies' Economic Intelligence solution is a data-driven tool that integrates third-party data to help governments analyze economic trends and allocate funds effectively, particularly in recovery efforts post-COVID-19.

How does Tyler Technologies help New Jersey with economic recovery?

Tyler Technologies assists New Jersey by providing its Economic Intelligence solution, which uses data to inform policy decisions, budget forecasting, and economic recovery strategies.

What data sources are integrated into Tyler Technologies' Economic Intelligence?

The solution integrates data from partners like SafeGraph and Affinity Solutions to deliver insights on consumer spending and economic trends.

When did Tyler Technologies announce the launch of Economic Intelligence in New Jersey?

Tyler Technologies announced the launch of its Economic Intelligence solution in New Jersey in a press release dated March 15, 2022.

What is the stock symbol for Tyler Technologies?

The stock symbol for Tyler Technologies is TYL.