Benzinga | Sep 14, 2021 09:20AM EDT

Colorado Department Of Regulatory Agencies To Improve Licensing Management With Tyler Technologies Solution

Tyler Technologies, Inc. (NYSE:TYL) announced today it has signed a 10-year agreement with the Colorado Department of Regulatory Agencies ("DORA"), Division of Professions and Occupations, for Tyler's ETK Regulatory(tm) solution. Tyler will provide the agency with an integrated licensing regulation management platform to help it offer as many licensing services online as possible to expand public access without compromising the quality of data.

"We are excited to upgrade our licensing regulation management with the help of Tyler's technology," said DORA's Ronne Hines, division director, Division of Professions and Occupations. "By offering more licensing services online, it will put our customers in control of accessing these crucial services. Additionally, it will free up some of our staff resources to focus on other critical tasks."

DORA's Division of Professions and Occupations was an existing Tyler client who conducted a formal RFP process and ultimately re-selected Tyler. Tyler will bring together multiple solutions to create a single, comprehensive, cloud-based system. This includes Tyler's ETK Regulatory platform, its Socrata(r) insights solution for analytics, its mobile inspection solution, and NIC Payments(tm), an electronic payment solution. Nearly 250 users and an additional 70 field inspectors will use the platform to manage 233 different license types, which includes electric and plumbing permitting, currently managed on an in-house legacy system.

DORA is the state of Colorado's umbrella regulatory agency, charged with managing licensing and registration for multiple professions and businesses, implementing balanced regulation for Colorado industries, and protecting consumers. The department is charged with administering more than 50 regulatory programs comprising over 886,000 individual licensees and approximately 65,000 businesses and institutions. The Division of Professions and Occupations is DORA's largest division.

Tyler will partner with the state to provide the initial investment to implement the solution. DORA will then collect transaction fees from its constituents to fund the system over the term of the contract.

"We are pleased to continue our relationship with DORA, bringing them a new, cloud-based system that will help manage more than 230 different license types," said Kris Collo, president of Tyler's Federal Division. "Our billing model with DORA is unique in the regulatory market. It can help agencies who might not have the capital funding available to access the technology upgrades they need. This model helps us bring innovative solutions to more agencies and expand public access to important licensing services."