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The Case For Centralizing Collections in Government

Blog: Enterprise Decision Management Blog

By centralizing collections in government, agencies can increase revenue by tens or even hundreds of millions of dollars each year.

Most tax and revenue agencies have strong collection operations, anchored by a large, dedicated staff of collectors supported by laws that allow for streamlined enforcement actions. Outside of tax agencies you often find departments with significant receivables, but without the mission, authority, or focus on collecting these receivables. Centralizing collections in government is therefore a significant opportunity when we focus on the area of non-tax receivables.

In fact, government agencies can increase revenue by tens or even hundreds of millions of dollars each year through centralized collection activities. These new efficiencies also deliver on the challenges that State and municipal governments face to do more with less and to improve the customer experience without increased taxes or additional fees.

So Why Centralize?

There are many reasons to centralize collection operations:

Examples of Successful Collection Operations

Many states successfully utilize a centralized collection operation.

By centralizing collections in government, agencies can increase revenue by tens or even hundreds of millions of dollars each year.

 

These States have seen increased collections from non-tax receivables, along with a consistently fair process that brings in much needed revenues to pay for critical state functions.

Centralizing Collections in Government – Statutory Authorities

One important consideration for centralized collections is having the proper statutory authorities in place. Below is a list of key items to support this function:

Robust Collection System to Power the Operation

In order for centralization to be successful, it needs a technology platform that can provide a wide range of capabilities:

Through these processes, statutes and tools, government agencies have demonstrated they can achieve significant increases in revenue, generating millions of dollars each year to fund critical, state-supported programs.

To learn more, read FICO® Government Solutions Modernize Collections, email us at info@fico.com or call 1 888 342 6336.

The post The Case For Centralizing Collections in Government appeared first on FICO.

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