Tyler Technologies Extends Contract for Digital Government and Payment Solutions in the State of Oregon

Rhea-AI Summary

Tyler Technologies (NYSE: TYL) has secured a multi-year contract extension with the state of Oregon for its digital government and payment services. This four-year agreement extends their partnership, initially launched 10 years ago, with Tyler's subsidiary, NIC. The contract focuses on enhancing accessibility and user experience for Oregon's digital services, including the development of user-friendly applications and online services. In 2020, NIC facilitated 295 digital services, processing $1.43 billion from over 4 million transactions, highlighting the importance of this ongoing collaboration.

Positive

• Multi-year contract extension with Oregon, ensuring continued revenue stream.
• NIC processed $1.43 billion in online transactions in 2020, showcasing strong financial performance.
• Enhancements in digital services will improve user accessibility and service efficiency.

Negative

• None.

Tyler Technologies, Inc. (NYSE: TYL) today announced that the state of Oregon has signed a multi-year contract extension for Tyler’s digital government and payments services.

The four-year agreement extends the existing 10-year relationship between Oregon’s E-Government Program and Tyler’s new subsidiary, NIC.

“NIC Oregon has been a vital partner with the state of Oregon as we work to make our websites and programs accessible and usable for the people of our great state,” said Thomas Fuller, chair of the Oregon Electronic Portal Advisory Board and Communications Manager for the Oregon Department of Transportation. “We are very pleased that this strategic relationship will continue.”

Under the contract, NIC will continue to help the state:

• Discover users’ needs and preferences of Oregon.gov and the state’s digital government services;
• Support the continued updating of state websites;
• Support increased accessibility, equitability, and readability of state websites and applications;
• Work with agencies to create easy-to-understand applications and payment processes;
• Work with agencies to continue moving forms and services online; and
• Increase service opportunities, including new lines of services.

“For the last 10 years, NIC has worked with Oregon’s state agencies, boards, and commissions to develop innovative digital solutions, including payments, to support hundreds of government services,” said Elizabeth Proudfit, president of the NIC Division of Tyler. “We are grateful to the state for continuing that relationship and our work together, building upon a solid foundation to take government services to the next level in Oregon.”

In 2020 alone, NIC provided 295 digital government services for the state of Oregon, securely processing $1.43 billion from more than 4 million online transactions. Additionally, NIC securely hosts the state’s official website, Oregon.gov, which received nearly 233 million page views across over 100 state agencies last year.

About Tyler Technologies and NIC

Acquired by Tyler Technologies (NYSE: TYL) on April 21, 2021, NIC is a leader in digital government solutions and payments, partnering with government to deliver user-friendly digital services that make it easier and more efficient to interact with government. NIC and Tyler are united in their mission to empower public sector entities to operate more efficiently and connect more transparently with their constituents and with each other. Tyler has more than 27,000 successful installations across more than 11,000 sites, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been named to Government Technology's GovTech 100 list five times and has been recognized three times on 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/20210715005183/en/

FAQ

What is the latest contract update for Tyler Technologies (TYL) with Oregon?

Tyler Technologies has signed a multi-year contract extension with the state of Oregon for its digital government and payments services.

How much did NIC process in transactions for Oregon in 2020?

In 2020, NIC processed $1.43 billion from more than 4 million online transactions for the state of Oregon.

What services will Tyler Technologies continue to provide to Oregon?

Tyler Technologies will continue to support digital services, enhance accessibility, and develop user-friendly applications for the state of Oregon.

What is the duration of the new agreement between Tyler Technologies and Oregon?

The new agreement is a four-year contract extension.