Government Receipts Management
Enables governments to raise revenue and collect receipts
Government Receipts Management Solutions Overview
(GRM) Government Receipts Management software enables the unique revenue-raising mechanisms of government, such as taxation. The modules can be combined and configured in any way and can be progressively activated in line with a sequenced PFM reform program. Features include:
Non-Tax Revenue
Supports government sales and other income including licensing and permits.
Tax Revenue
Supports tax administration for income, business, imports and property.
Billing and Receipts
Supports receipts collection including utility billing, collections and cashiering.
Modules
(GRM) Government Receipts Management is one of the six core product pillars within the FreeBalance Accountability Suite™ and is composed of a number of modules that can be implemented as a standalone or part of a unified solution. The GRM pillar enables governments to raise revenue and collect receipts.
(GRRV) Government Receipts Management
Supports revenue and tax collection.(GRCS) Cashiering
Manages payment methods, bank deposits, print receipts, and generates revenue budget execution transactions.(GRPL) Permits and Licensing
Manages corporate and professional academic permits and licences.(GRCE) Customs Taxation
Customs software that supports the processing of taxation and import taxes.(GRCT) Corporate Income Tax Administration
Improves revenue generations and enables tracking while reducing fraud and non-compliance issues.(GRPI) Personal Income Tax Administration
Provides case management functionality for revenue, payments and audits, and enhances fraud detection.
(GRPT) Property Taxes
Calculates corporate and personal property taxes, with functionality for billing, maintenance, collections and distributions.(GRBP) Bill Presentment
Supports the electronic presentation of bills like statements, utility billing and to-date billing.(GRCM) Case Management
Assists with automated collections, correspondence and case details, and has a built-in workflow.(GRCR) Customer Relationship Management
Assists with e-sales and e-invoice functionality, and includes customer data management, workflow and reporting.(GRUB) Utility Billing
Supports billing for utilities like water and gas and provides automated collection management functionality.
What is Government Receipts Management?
The only sources of income of a government are the taxes it collects and sundry fees various departments and agencies charge for a variety of services such as utilities, permits, visas, fines, etc. It is therefore critical that these receipts are managed efficiently and effectively. Our GRM system offers tax administrations an integrated government revenue management software solution.What are the Benefits of Government Receipts Management?
Many governments have revenue management systems to manage tax collection and other receipts. However, stand alone revenue management software present numerous challenges and the importance of having all financial management functions integrated into a single unified system is paramount. Benefits of FreeBalance’s Government Receipts Management modules include:
Taxation
Supports income, property, custom, excise and sales taxes.Customer and Taxpayer Management
Manages citizen and corporate information and identity across revenue systems.Government Sales
Manages the sales of all government assets.
Collection Management
Supports receipts handling, collections, invoicing, statements and dunning letters.Permits and Licensing
Manages all government processes that collect revenue – permits, licenses, certifications, user fees and fines.
Frequently Asked Questions
Find answers to commonly asked questions about FreeBalance’s Government Receipts Management Solution.
The (GRM) Government Receipts Management pillar of the FreeBalance Accountability Suite™ is software that helps governments manage their revenue-raising mechanisms, including taxation. This software consists of modules that can be configured and activated gradually in accordance with a sequenced PFM reform program. The software offers various features, such as support for non-tax revenue sources like licensing and permits, as well as tax administration for income, business, imports, and property. Additionally, (GRM) Government Receipts Management also supports billing and receipts collection for utility billing, collections, and cashiering.
FreeBalance’s (GRM) Government Receipts Management software helps to improve government revenue management processes in a number of ways:
- Streamlines revenue collection: Automates revenue collection processes, reducing the need for manual data entry and minimizing errors which leads to more efficient and accurate revenue collection.
- Improves compliance: Helps governments identify non-compliant payers and take appropriate actions to enforce compliance.
- Increases transparency: Provides real-time revenue data and analytics, giving governments more visibility into their revenue streams. This can help governments make informed decisions about revenue policies and budgets.
- Enhances reporting and auditing: Generates reports and audits, making it easier for governments to track revenue trends which helps governments make data-driven decisions and improve revenue forecasting.
FreeBalance’s (GRM) Government Receipts Management software includes several features to help governments manage their revenue efficiently. The software is designed to integrate all financial management functions into a single unified system. Key features include support for different types of tax such as income, property, custom, excise and sales taxes. Additionally, it helps manage citizen and corporate information and identity across revenue systems through customer and taxpayer management. The software also assists in managing the sales of all government assets and supports collection management by handling receipts, collections, invoicing, statements and dunning letters. Finally, (GRM) Government Receipts Management enables governments to manage all revenue collection processes, including permits, licenses, certifications, user fees and fines.
FreeBalance’s (GRM) Government Receipts Management pillar is fully integrated with all other pillars and modules of the FreeBalance Accountability Suite™ and shares the same unified platform, the FreeBalance Accountability Platform™. It provides real-time data analytics and performance metrics through several key features:
- Data integration: The software is designed to integrate with a range of data sources, including government financial systems, HR systems, and other data sources. This allows governments to access real-time data on performance metrics such as revenue collection, service delivery, and program outcomes.
- Data visualization: The software includes powerful data visualization tools that enable governments to create graphs, charts, and other visualizations of their performance data. These visualizations provide real-time insights into government performance, enabling governments to identify trends and patterns in their data.
- Dashboards: The software includes customizable dashboards that display performance metrics in real-time. These dashboards can be configured to meet the specific needs of different stakeholders, providing quick access to the information that is most important to them.
- Alerts: The software includes alerting functionality that can be configured to notify government officials and other stakeholders when performance metrics fall outside of predefined thresholds. This enables governments to take corrective action in real-time, before issues become more serious.
- Performance tracking: The software allows governments to track performance metrics over time, providing real-time insights into how government performance is changing over time. This enables governments to identify areas where performance is improving and areas where additional interventions may be needed.
FreeBalance’s GRM software provides real-time data analytics and performance metrics by integrating with a range of data sources, visualizing performance data, providing customizable dashboards, alerting stakeholders to performance issues, and tracking performance over time. This enables governments to make data-driven decisions in real-time, improving their ability to deliver services effectively and efficiently.
The FreeBalance Accountability Suite™ is massively configurable and highly extensible meaning that it is able to meet any government need. Many PFM experts don’t see much of a difference between configuration or customization – often referring to any adaptation as “customization”. We’ve been talking about the difference for some time and the industry has finally caught up to us by defining configuration as “no-code” customization.
FreeBalance’s (GRM) Government Receipts Management software is highly configurable and requires little to no software development to meet specific government needs. Some of the ways that the software can be configured include:
- Metrics: Governments can define their own performance metrics, enabling them to track performance against their own objectives and priorities.
- Dashboards: The software includes customizable dashboards that can be configured to display the information that is most important to different stakeholders. Governments can configure dashboards to display metrics, reports, and other information in a way that meets their specific needs.
- Reports: The software includes a range of standard reports, as well as tools for creating custom reports. Governments can create reports that meet their specific reporting requirements, including different data sources, time periods, and report formats.
- Alerts: The software includes alerting functionality that can be customized to meet specific needs. Governments can configure alerts to notify different stakeholders when performance metrics fall outside of predefined thresholds.
- Workflows: The software includes workflow management tools that enable governments to customize the GRM process to their specific needs. Governments can configure workflows to match their specific business processes, including data collection, analysis, and reporting.
FreeBalance’s GRM software is highly configurable, enabling governments to tailor the software to their specific needs. This helps governments to implement performance management processes that are aligned with their unique objectives, priorities, and business processes.
Additional Reading
The Importance of Revenue Management in State Owned Enterprises Revenue management is a critical aspect of running any business but in SOEs, it plays an even more important role. Effective revenue management in SOEs requires optimizing revenue streams, managing costs, and minimizing waste to increase revenue and profitability. This is particularly important for SOEs as they operate in a complex economic and political environment and are often subject to government intervention and regulation.
The Importance of Government Revenue Management Revenue management (or receipts management as it is often called) refers to the process of strategically optimizing revenue streams to maximize profits while minimizing costs. While this practice is commonly associated with the private sector, revenue management is becoming increasingly important in public sector organizations. With limited resources and growing demands for public services, it is essential for governments to effectively manage their revenue streams to ensure national financial sustainability and long-term economic success.
What is the FreeBalance PFM Component Map? The pressure is on for governments to modernize and invest in new technologies, but it can be hard to know where to start or how to prioritize these investments. The practice of acquiring an Integrated Financial Management Information Systems (IFMIS) often begins with the context of private sector accounting or existing software in use. But financial management differs in the public sector which means that this approach often misleads prioritization.Want to know more? Please fill out the form below.
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