Tyler Technologies Signs Two New ASP Contracts Valued at $2.1 Million |
Dallas, Texas, August 7, 2001 -Tyler Technologies, Inc. (NYSE: TYL) announced today that it has entered into contracts with the City of Billerica, Massachusetts and the Town of Greenwich, Connecticut to provide its MUNIS(r) financial software through its MUNIS(r) Application Service Provider (ASP) model. The total value of the three-year contracts with Billerica and Greenwich is over $2.1 million. The MUNIS(r) applications and data are hosted at Tyler Technologies' new data center in Falmouth, Maine and clients access the software via the Internet, utilizing a secure virtual private network.
Billerica, Massachusetts is located 20 miles north of Boston and has nearly 40,000 residents. Incorporated in 1655, Billerica is now a major regional employer and home to several high technology firms. Billerica has been a MUNIS client since 1992, with the MUNIS(r) software previously maintained on its in-house system. Based upon its confidence in Tyler's MUNIS division and a desire to simplify its information technology (IT) operations, the City decided to move to the MUNIS(r) ASP, with MUNIS hosting the applications and data. Billerica saw the value of continuing their long-term relationship with Tyler's MUNIS division, while at the same time removing the uncertainties and costs associated with purchasing and maintaining new system hardware and software just to keep pace with technology. According to Billerica Town Manager Richard Montouri, "This relieves the burden on our IT staff and allows them to better support other areas." Billerica will operate MUNIS(r) Financials, Payroll / Human Resources, Tax and Utilities applications through MUNIS(r) ASP.
Billerica will also utilize MUNIS OnLineTM, allowing employees, citizens and other users to access information and conduct business with the City online. "This was a natural next step in our IT strategy," said Mr. Montouri. "Online payment capability and data access for employees were goals we had set a few years ago, and I'm happy to see them come to fruition through the implementation of MUNIS OnLineTM."
The Town of Greenwich, Connecticut is a community of approximately 60,000 people located in Fairfield County, just outside of New York City. Greenwich is utilizing the MUNIS(r) ASP solution for the Financial, Payroll / Human Resources, and Budget applications. Once again, the value add of the MUNIS(r) ASP was based upon the reliance on Tyler's expertise, the liberation of IT resources for other projects and the advantages of a known fixed cost.
"The ASP solution made sense for us from a number of perspectives," noted Ed Gomeau, CFO/Comptroller of the Town of Greenwich. "It allowed us to reap the benefits of a significant data center and a dedicated operations staff at a fraction of their direct cost. Our IT staff was made available to work on other strategic projects that may not have been possible had they been assigned to administer the MUNIS(r) financial administration system in-house. Also, leasing the application software gives us a fixed cost over the contract period and dramatically reduced our initial investment. We have been so satisfied with the performance of the MUNIS(r) ASP that we are seriously considering expanding our relationship with MUNIS to include Tax Assessment and Tax Collection applications.
"We are very pleased to add Billerica and Greenwich to our growing family of ASP clients," commented John Marr Jr., President of Tyler's MUNIS division. "Tyler's recurring annual revenues from ASP related commitments are now more than $ 1.3 million, exceeding our expectations for just seven months after launching the service," added Mr. Marr.
"Billerica is our first existing customer to convert to the MUNIS(r) ASP solution," continued Mr. Marr. "Their decision to move the applications to Tyler's hosting center underscores the high degree of client satisfaction with our software and confidence in Tyler's expertise in supporting these mission-critical systems. We are encouraged to see our ASP solution continue to be embraced by both our existing customers and the new business market."
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and e-government services to local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler's client base includes nearly 6,000 local government offices in 49 states, Canada and Puerto Rico. Tyler's MUNIS division is a leader in providing financial, human resource and revenue-based applications for the public sector. More information about Tyler Technologies can be found on the World Wide Web at www.tylertechnologies.com.
Tyler Technologies, Inc. has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company's customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Tyler Technologies, Inc.
CONTACT: Brian K. Miller, Vice President - Finance of Tyler Technologies, Inc., +1-214-547-4000, or bmiller@tylertechnologies.com |
Aug 07, 2001 |
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