Tyler Technologies acquires ResourceX to boost priority-based budgeting solutions
TEXAS: Tyler Technologies, Inc. (NYSE: TYL) bought ResourceX, a company that makes software for better budgeting in the public sector. ResourceX helps governments deal with problems like not enough money and lack of openness.
Tyler will add ResourceX’s software to its own products, which will make Tyler’s budgeting solutions more unique and powerful. Chris Webster, the head of Tyler’s ERP & Civic Division, said that ResourceX’s software is a new and important way of budgeting for the public sector. He said that Tyler is happy to offer this software to its clients and to welcome ResourceX’s team to Tyler.
He said that this software will make Tyler’s products better and help communities be more efficient and transparent. Line-item budgeting is the most common way of budgeting, but it has some drawbacks. It can be too rigid, not very strategic, and not very good at evaluating how well programs work.
ResourceX’s software uses a different way of budgeting, called priority-based budgeting. It helps governments focus on what matters most to the people they serve and how to use their resources wisely. It makes the budget more flexible, effective, and clear.
ResourceX’s software uses machine learning and AI to find and suggest big savings for its clients. It also helps them prioritize their spending on capital projects and create reports that follow the GFOA’s standards.
ResourceX has over 60 clients in the U.S. and Canada, including some near Tyler’s headquarters in Plano, Texas. Some other cities that use ResourceX’s software are Tulsa, Salt Lake City, Albuquerque, and Pittsburgh.
Chris Fabian, the founder of ResourceX, said that he is excited to join forces with Tyler, which has a lot of experience in making ERP software for the public sector. He said that there is a big demand for this kind of software, and he is eager to help governments make smarter budgeting decisions. ResourceX is based in Denver, Colorado, and was started by Chris Fabian in 2015. Its staff will join Tyler’s ERP & Civic Division.
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