GTY Technology’s Bonfire Featured in Ovum on the Radar Report

GTY Technology Holdings Inc. (Nasdaq: GTYH) (“GTY”), a leading provider of SaaS/Cloud solutions for the public sector, announced today that its business unit, Bonfire Interactive Ltd. (“Bonfire”) has been recognized as an ‘On the Radar’ vendor by leading analyst firm, Ovum.

On the Radar features vendors who bring innovative ideas, products, or business models to their markets. Ovum recognizes Bonfire for understanding and addressing the distinct priorities for public and private sector procurement teams. In the public sector, the majority of the bid and RFP process remains non-digitized, which poses significant risks for organizations.

“These organizations are primarily concerned with compliance, governance, and fit with their unique processes. Several RFP portals enable posting and document aggregation, while very few actually bring the entire process online, offering the ability to manage, post, receive responses, evaluate, and award all in one platform,” said Terry White, Associate Senior Analyst, Ovum. “Bonfire uniquely delivers on these priorities.”

The report also highlights the impact the Bonfire Strategic Sourcing solution demonstrates including an average 20% cost savings, two-times faster procurement process, deep compliance, and accelerated adoption with 93% of users recommending it. Additionally, as part of the GTY portfolio of companies, Bonfire gains access to a wider market with complementary solutions.

“As the report shares, 95 percent of public sector organizations in North America still use on-premise software,” said Stephen Rohleder, President, CEO and Chairman of GTY. “This presents a significant opportunity for Bonfire, as well as the other GTY solutions, to help move organizations to cloud solutions that are more cost and time effective.

Read the report - On the Radar: Bonfire platform helps procurement teams find, select and manage suppliers

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 empowers organizations to find the right vendors and make the right purchasing decisions with ease and confidence. With tools to support the entire vendor lifecycle (sourcing, contract management, and vendor performance), Bonfire goes beyond traditional mechanics of standard procurement suites to make complex decision-making easy. The combination of flexible technology and world-class customer service makes Bonfire the solution of choice for both public and private sector organizations. Bonfire is an award-winning solution recognized by industry-leading outlets including Gartner, GovTech, Spend Matters, Best in SaaS, and the International Business Awards.