An Integrated Approach to Seaport Financial Billing, Receiveables and Statistics

About the Program

Category: Financial Management (Best in Category)

Year: 2012

A new Revenue Management System (RMS) was designed and implemented by the Port Miami’s Information Technology Section in close collaboration with the Finance, Operations and Marketing Divisions. This new system has integrated all the legacy revenue collection subsystems, as well as the Port’s Vessel scheduling and Cashiering Systems. It has replaced a substantial “Shadow-IT” effort that was supported by complicated and large Microsoft Spreadsheets and Access Databases developed and maintained by the Accounting Section. The quality of statistical data has dramatically increased via a monthly interface with Piers (the most comprehensive database of U.S. waterborne trade activity in the world). Statements, Invoice and payments are now available via secure websites that are fully peripheral Component Interconnect (PCI) complaint with credit card and electronic check processing systems. The true measure of the Systems’ success is the significant decrease in noncollectable invoices, and the timeliness in which the invoices are paid.