KITCHENER, Ontario--(BUSINESS WIRE)--Bonfire Interactive Ltd. (“Bonfire”), a business unit of GTY Technology Holdings Inc. and a leader in strategic sourcing and procurement software, today celebrated the tenth anniversary of its eProcurement platform. Over the last decade, the solution has empowered nearly 700 public sector clients to drive better collaboration, security, and compliance in their procurement processes. Bonfire is a business unit of GTY Technology Holdings Inc. (Nasdaq: GTYH), a leading provider of SaaS/Cloud solutions for the public sector.
Since the company’s launch in 2012, Bonfire has amassed a total of 481,361 global users, including buyers, evaluators, and vendors. Clients have run 81,900 projects and managed $39.2B USD in spend on the Bonfire platform.
The digital revolution of public procurement has not only improved processes, but also increased the value of procurement departments to enable strategic, higher-order decision-making. Today hundreds of public sector agencies rely on Bonfire to manage their competitive bid processes and support seamless collaboration, secure information sharing, efficient workflows, and regulatory compliance for public procurement teams.
“Over 10 years, Bonfire has grown from a startup to a leader in the eProcurement space,” said Bonfire CEO Omar Salaymeh. “We continue to evolve, innovate, and respond to market needs. No matter what curveballs we’re thrown, we remain committed to serving the evolving needs of our public sector customers. We are beginning our tenth year emerging from a global pandemic, and we’re stronger for it. Given the impact our solution has had on communities, citizens, and procurement professionals during the COVID-19 pandemic, our mission and vision are truer than ever.”
Over the last decade, the platform has also played a key role in dramatically reducing environmental impact and driving digitization in public procurement, transitioning tens of thousands of bid competitions from print to digital formats. Since 2012, vendors have uploaded over 155 million pages of proposal documents to the platform.
“We’re incredibly proud of how Bonfire has grown, and the company’s unwavering commitment to customer service over the past decade,” said TJ Parass, CEO of GTY. “Throughout the pandemic, Bonfire has helped connect agencies and citizens to essential goods and services they needed most, including vaccines, PPE, cleaning supplies and more. We’re confident that Bonfire will continue to scale and provide the public sector with valuable eProcurement solutions long into the future.”
To celebrate the company’s tenth anniversary and the customers who have made it possible, Bonfire announced the launch of the Bonfire Procurement Awards. The new awards program highlights public procurement professionals who excel, innovate, and showcase excellence in strategic sourcing. Nominations are open until June 3, and the program has already seen dozens of submissions from public procurement agencies across North America. Bonfire plans to celebrate the award winners at the National Institute for Government Procurement (NIGP) Forum conference taking place in Boston on August 20 through 24, 2022.
About Bonfire Interactive Inc.
Bonfire Interactive Inc. (“Bonfire”) is a business unit of GTY Technology Holdings Inc. and a leader in strategic sourcing and procurement software. Bonfire brings procurement online, ensuring 100% compliance, reducing cycle times, and improving transparency. Through the power of tools optimized for collaboration and in-app access to RFP insights and templates (surfaced from Bonfire’s library of 40,000+ projects), Bonfire unlocks procurement’s potential to drive greater agency impact, achieve better outcomes, and engage colleagues along the way. Bonfire’s proven history of customer-driven innovation is trusted by hundreds of public procurement teams across North America.
About GTY Technology Holdings Inc.
GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY”) brings leading government technology companies together to achieve a new standard in citizen engagement and resource management. Through its six business units, GTY offers an intuitive cloud-based suite of solutions for state and local governments spanning functions in procurement, payments, grant management, budgeting, and permitting: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spend; CityBase provides government payment solutions to connect constituents with utilities and government agencies; eCivis offers a grant management system to maximize grant revenues and track performance; Open Counter provides government payment software to guide applicants through complex permitting and licensing procedures; Questica offers budget preparation and management software to deliver on financial and non-financial strategic objectives; Sherpa provides public sector budgeting software and consulting services.
Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The company’s actual results may differ from its expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the company’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of public health crises, epidemics and pandemics such as the COVID-19 pandemic on our operations, our customers and the economy, including the duration, spread and severity of such crises, and variants, vaccinations, treatments, testing and recurrences; (2) the costs of acquisitions and the risk that the ongoing integration of the businesses acquired in our business combination and any subsequent acquisitions disrupts current plans and operations; (3) our ability to fully recognize the anticipated benefits of the business combination and any subsequent acquisitions, which may be affected by, among other things, competition and the ability of the combined company to grow and manage growth profitably; (4) our ability to attract, retain, and motivate key employees and, if they depart, to recruit, hire, and motivate replacements with comparable or better knowledge, skills and abilities; (5) our failure to generate sufficient cash flow from our business to make payments on our debt; (6) our ability to raise or borrow additional funds on acceptable terms; (7) changes in applicable laws or regulations and the adoption of new accounting standards, statements and interpretations; (8) legal proceedings and investigations that could harm our business, including those relating to former special purpose acquisition companies; (9) the possibility that the company may be adversely affected by other economic, business or competitive factors, including inflation; and (10) other risks and uncertainties included in our Annual Report on Form 10-K for the year ended December 31, 2021 and our subsequent filings with the Securities and Exchange Commission. We caution you that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by applicable securities laws.
