Tyler’s Odyssey Suite (TYL) to Modernize Choctaw’s Court System – November 8, 2021
Tyler Technologies (TYL – Free Report) announced last week that it was working with the Choctaw Nation of Oklahoma to create a sophisticated new court system for tribal government.
Tyler will be integrating his Odyssey suite of solutions into the Choctaw court system over the next 18 months. The Odyssey suite of solutions will include the integration of Odyssey Case Manager, Odyssey Attorney Manager, Odyssey Judge Edition, Tyler Jury Manager, e-filing and Odyssey Guide & File.
With the new justice system, Choctaw Nation of Oklahoma aims to improve access to justice for all of its tribal citizens and to strengthen collaboration between justice agencies. The new system will save tribal members, judges and lawyers time by eliminating paper and in-person filing.
The Choctaw Nation of Oklahoma Tribal Government was one of the first to implement Tyler’s integrated solutions to move from manual configuration to cloud-based automated forensic practices. In fact, last year the company bestowed the 2020 Tyler’s Excellence Award on the Judicial Branch of the Choctaw Nation of Oklahoma for its partnership in modernizing and transforming the court’s justice system.
In recent times, most courts are increasingly embracing new technology for smooth operation in the ongoing pandemic-driven workplace from domestic wave and social distancing standards adopted by governments around the world. According to the company’s press release, more than 21 million criminal and civil complaints have been filed in the past five years.
Tyler has benefited from the public sector’s ongoing transition from on-premises and obsolete systems to scalable cloud-based systems. The company has continuously advanced its core software applications and expanded its portfolios of complementary products and services to meet changing customer needs while keeping pace with technological advancements.
During the third quarter of 2021, the company added 114 new subscription agreements and converted 46 existing on-premise customers, representing approximately $ 56 million of total contract value.
Tyler pursued strategic acquisitions to expand its product and service offerings, enter new markets related to local government, attract customers and grow geographically. Investments and acquisitions help it stay ahead of the curve and capitalize on exciting new opportunities.
In the third quarter, the company benefited mainly from post-acquisition contributions from NIC. Its non-GAAP revenue increased 61.1% year-over-year to $ 460.6 million. She recently completed the acquisitions of VendEngine, a financial technology company, and Arx, a cloud-based software services provider.
Rank of Zacks and other key choices
Tyler currently wears a Zacks Rank # 2 (Buy).
Some other leading actions in the wider technology sector are Selling power (CRM – Free report), Alphabet (GOOG – Free report) and Harmonic (HLIT – Free Report), each sporting a Rank 1 Zacks (hard buy). You can see The full list of today’s Zacks # 1 Rank stocks here.
The long-term profit growth rate for Salesforce, Alphabet and Harmonic is set at 16.8%, 26% and 15%, respectively.