Coactiva launches ThreeSixty Business Rates module to help authorities increase revenue, improve collections and mitigate risk
The launch of the new ThreeSixty Business Rates module will help local authorities increase revenues, maximise collection and quantify and mitigate risk utilising powerful insight created from multiple and unique data sets and intuitive analytical tools.
The Business Rates module empowers authorities to develop in the following areas relating to the administration and collection of business rates and the planning of localised economic development.
- Improve the success rates and efficiency of enforcement action through cleansed and verified billing data.
- Allocate resources and target collection/support strategies to businesses with the highest risk of closure, default, error or fraud.
- Interrogate individual businesses, verify entitlement to reliefs and identify organisations with the highest risk of fraud.
- Respond to ‘alerts’ triggered by significant changes affecting collection as they happen. Accurately forecast collection throughout the year and proactively respond to changing market conditions.
- Utilise insight to gain a deeper understanding of the commercial sector to inform and target economic development and planning. Maintain an accurate and up-to-date valuation list.
The Business Rates module enhances the ThreeSixty Connections platform, originally launched in October 2014. The fully hosted web based solution is simple to set-up, easy to use and has fully automated credit reference agency data intelligence integration including modelling, data matching, standard reports, query building and daily updates and alerts.
James Hilton, Head of Sales - Central and Local Government, Coactiva said: “The Business Rates module has been designed collaboratively with our customers to ensure it meets and exceeds current and future local authority needs. The solution presents a cost effective platform upon which the sector can completely transform and modernise the way in which it collects business rates as well as enabling localised economic growth.
“I am delighted that 10 local authorities have signed up for the mew module which will be fully launched by spring 2015.”
Rachael Tiffen, head of the CIPFA Counter Fraud Centre, said: “Coactiva, with input from Revenues and Counter Fraud Officers, has created something unique that has the potential to deliver a step change in effectiveness of prevention, early intervention and detection activities targeting fraud and revenue collection.”
The ThreeSixty Connections data management and analytics solution provides one platform for users to gain a single view of a customer, enabling a better approach to data matching and consolidation. Users have access to all the data and intelligence required to create actionable intelligence through modules, such as Business Rates, Revenues and Benefits, Corporate Debt, Housing and Fraud.