An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Tyler Technologies Renews Contract for Digital Government and Payment Solutions in the State of Arkansas
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Tyler Technologies (NYSE: TYL) has secured a four-year contract renewal with the state of Arkansas, continuing its 25-year partnership through its subsidiary, NIC. This agreement emphasizes the delivery of digital government services aimed at enhancing citizen access. The partnership has resulted in significant efficiencies, including over $64 million in annual cost avoidance for the state. Tyler's NIC currently supports more than 300 government entities, processing over 14.5 million transactions worth $521 million in 2020, achieving a 96% satisfaction rating among users.
Positive
Renewed contract with Arkansas ensures continued revenue stream.
Partnership has generated over $64 million in annual cost avoidance for the state.
Strong user engagement with over 14.5 million transactions processed in 2020.
Negative
None.
Four-year agreement adds to existing 25-year relationship with the state
PLANO, Texas--(BUSINESS WIRE)--
Tyler Technologies, Inc. (NYSE: TYL) today announced that the state of Arkansas has renewed its contract for Tyler’s award-winning digital government and payments services. The four-year agreement builds upon the existing 25-year relationship between Tyler’s subsidiary, NIC, and the Information Network of Arkansas, a governor-appointed board that oversees digital access to government information and services in Arkansas. The agreement includes three additional one-year extensions, which may be exercised at the discretion of the state.
“Arkansas is a proven leader in creating innovation solutions that connect citizens with their government,” said Ralph Hudson, director of labor at the Arkansas Department of Labor and Licensing and INA board chair. “This continuation of the trusted partnership between the state of Arkansas and NIC will continue to deliver improved experiences for our citizens while creating even more efficiencies for government offices.”
Throughout Arkansas, Tyler’s NIC subsidiary currently provides more than 300 state and local government entities with nearly 1,000 digital government services, including online vehicle and driver services, criminal background checks, and county property tax payments. NIC Arkansas operates a multi-award-winning citizen portal powered by an intelligent, cross-agency chatbot that engages visitors to the state’s official website, Arkansas.gov, with machine learning and artificial intelligence to help Arkansans find the services they need – all through a simple, intuitive conversation.
“It has been our great honor to partner with the state and help build Arkansas’ award-winning digital government presence over the past 25 years,” said Christy Williams, general manager of NIC Arkansas. “Our goal is to make government more accessible to everyone through technology, and that aligns with the mission of the INA Board. We are excited to continue this partnership, accelerate digital service delivery and ultimately make life better for Arkansans.”
Through its partnership with NIC, Arkansas’ enterprise digital government presence has resulted in process automation efficiencies for both government and citizens and enabled the state to realize a cost avoidance of more than $64 million each year. In 2020 alone, Arkansas government websites served over 2.8 million citizens and securely processed over 14.5 million digital government transactions totaling more than $521 million and achieved a 96% average satisfaction rating from more than 435,000 citizens surveyed.
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 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.
What is the significance of the contract renewal for Tyler Technologies (TYL)?
The contract renewal reinforces Tyler Technologies' ongoing partnership with Arkansas, ensuring a continued revenue stream and the provision of essential digital services.
How long is the new contract with Arkansas for Tyler Technologies (TYL)?
The new contract spans four years and can be extended for three additional one-year terms at the state's discretion.
What financial impact does the partnership have on Arkansas?
The partnership has resulted in over $64 million in annual cost avoidance for the state, indicating significant efficiency gains in government services.
How many transactions did Tyler’s NIC handle in 2020 for Arkansas?
In 2020, Tyler’s NIC processed over 14.5 million digital government transactions in Arkansas.
What is the satisfaction rating of citizens using Tyler Technologies’ services in Arkansas?
Citizens expressed a 96% satisfaction rating based on surveys conducted.
