The coronavirus pandemic has decimated the revenue of state and local governments. Businesses are closing and citizens are spending less, generating deficits in tax income vital to many government budgets. In response, governments are firing employees and cutting key services just in order to get through the 2020 budgeting season.
But governments have access to an alternative. Paul Colangelo, CEO of Avenu, outlines this alternative in his most recent op-ed. Automated, data-driven and tech-enabled revenue management can rescue government budgets without requiring governments to eliminate employees and services or raise taxes. The key is leveraging new digital and automation technology to unlock revenue hidden behind opaque internal processes and poorly optimized government processes.
Read the full article in Forbes about the steps governments can take today to discover hidden revenue and weather the fiscal impact of the coronavirus crisis.