The revenue value chain is about achieving four goals that include predictability through management, completeness of revenue (through billing and collecting every rand), protection of revenue following defined processes and growth. The process has to use revenue data science techniques to analyse complex volumes of municipal data to identify revenue leakages and discover opportunities to increase revenue from existing and, importantly, new sources. In the context of revenue, data science is about utilising data analytics across all the revenue collection and management phases to create dashboards that will indicate how and when revenue is generated. Revenue management and increase require a scientific, entrepreneurial discipline to design, test and grow new revenue lines. In addition, municipalities must implement the “science” of revenue management to achieve completeness of revenue and eliminate revenue leakages in the value chain.

Source: The North Africa Journal January 27, 2024 11:09 UTC