Priority-based budgeting is a method of accounting that describes spending in terms of priorities and outcomes rather than the traditional line-item method that focuses on items or programs. It seeks to rally a budget around strategy and help the public more easily understand what efforts taxpayer dollars are helping.
ResourceX’s offerings also include budget books, visualization tools and resource optimization. Tyler will use ResourceX to complement its existing enterprise resource planning (ERP) software.
“We look forward to combining our expertise in priority-based budgeting with Tyler’s expertise and decades of experience in providing public-sector ERP applications,” said ResourceX founder Chris Fabian in a statement. “There is a major need for this kind of solution, and we’re excited to help jurisdictions make better, data-informed decisions when it comes to budgeting.”
ResourceX, based in Denver, has more than 60 clients in the U.S. and Canada including the cities of Pittsburgh; Tulsa, Okla.; and Albuquerque, N.M. It raised a $1.5 million seed round from investors, led by Innosphere Ventures, in 2021.
Tyler, a giant in the gov tech market and frequent acquirer of smaller companies, announced the ResourceX buyout on the same day as its purchase of the infrastructure inspection company ARInspect.
Tyler did not mention details or pricing of either deal in its recent quarterly earnings report to the U.S. Securities and Exchange Commission.
