Tyler Technologies Inc. (TYL - Free Report) ) recently announced that its New World ShieldForce mobile application is available on the Android platform for first responders, command staff and patrol officers.
The app is designed to make real-time and mission-critical data available instantly for public safety agencies in order to improve their situational and contextual awareness and overall safety so as to keep communities safer.
Moreover, by enabling computer-aided dispatch (CAD) functionality on a smartphone, tablet or watch, New World ShieldForce provides a vital connection between patrol officers, dispatchers and command staff.
Strong Product Portfolio: A Tailwind
Tyler has been continually enhancing its core software applications and expanding complementary product and service menu to fulfill the changing needs of customers and respond to technological advancements.
The company offers software solutions and services for Financial Management and Education, Courts and Justice, Public Safety, Property Appraisal and Tax, Planning, Regulatory and Maintenance, and Land and Vital Records Management.
Tyler’s robust products and services are helping it gain traction from growth in new businesses. The company is benefiting from the surging SaaS adoption in public sector, especially among the local governments.
Investments and acquisitions are helping the company improve its competitive edge and address new and widening avenues of opportunities. Its broad line of software solutions and services, which aids in addressing the IT needs of major areas of operations for cities, counties, schools and other government entities is a tailwind.
Recently, the company launched Law Enforcement Analytics, a Socrata-based cloud application for public safety command staff.
Reportedly, the new solution will enable public safety staff to examine crime statistics in its community. The tool will help identify crimes that are rampant or have subsided in a specific region, indicate and envision where crimes were committed and pinpoint the most common types of offences being perpetrated.
A solid spurt in subscription revenues, backed by large SaaS contract wins, is likely to be a steady key driver for the company.
Moreover, the product launches will also help Tyler combat rivalry in most of its end markets from the biggies like Oracle (ORCL - Free Report) , SAP Se (SAP - Free Report) , Workday (WDAY - Free Report) etc.
Tyler currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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