Oracle and RIA Advisory have partnered to bring Oracle Revenue Management and Billing (ORMB) to public sector agencies. The solution, named RIA Public Sector Foundation, is designed for public sector agencies that manage self-assessed taxes, property taxes, regulatory fees, grants, subsidies, and other revenue types.
The RIA Public Sector Foundation solution enables public sector tax assessment, billing, revenue management, and collection capabilities. It provides a fresh, modern approach for implementing and maintaining the ever-changing complex rules in the core tax and revenue administration system. The solution helps government authorities achieve compliance, improve citizen service, enhance revenue collection capabilities, and provide increased flexibility to respond to revenue law changes.
The solution uses Oracle Revenue Management and Billing product capabilities across crucial business process areas, including registration, accounting, payments, billing, and collections.
Essential design principles of the solution
Easy upgrade and maintenance: Designed as a true commercial off-the-shelf (COTS) package, the solution is easily upgradable with the configuration in place, eliminating the redundancy that is often associated with public sector platforms.
A modern and intuitive user experience: To simplify user adoption and solution deployment.
End-to-end business processes: The solution addresses the core tax and revenue administration requirements spanning from taxpayer registration to tax forms submission. These include tax assessment and billing to payment, approvals to refunds, automated penalty and interest with collections processing, and integrated citizen and taxpayer self-service.
Sub-ledger accounting: The solution achieves GAAP compliance through double-entry accounting. The solution offers easy integration into financial systems such as Oracle E-Business Suite, PeopleSoft Financials, and Oracle Financials Cloud.
Integration-friendly: Built on ORMB’s integration standards and leveraging a micro-services portal architecture, the solution fits seamlessly into any technology eco-system.
With the above principles, public sector agencies can deploy in as little as six months, transforming their revenue management capabilities in the shortest timeframe.
To learn more about our next-generation public sector revenue management systems, please message me.
For more information, please visit:
RIA Advisory: Link
RIA Advisory Public Sector Foundation: Link
Oracle Revenue Management & Billing Solutions: Link
Oracle Financial Services: oracle.com/financial-services
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