SAP explores ways to boost IGR at revenue management summit

As part of efforts to live up to its promise of making businesses run better, SAP, a market leader in enterprise application software, recently hosted a Revenue Management Summit with stakeholders on boosting IGR by over 200 percent  year on year (YOY) with state of the art technology.
SAP is at the center of today’s technology revolution, developing innovations that not only help businesses run like never before, but also improve the lives of people everywhere.
Speaking at the summit, managing director of SAP West Africa, Richard Edet, said ‘Tax and revenue management is of tremendous importance.
He added that “This summit is an investment in people, customers, partners, industries and communities to ensure that there is sustainability, progression and fulfilment which support the overall development of the economy and SAP’s business in this region’ .
At the SAP Summit, Acting Executive Chairman of Nigeria’s Federal Inland Revenue Service (FIRS), Kabir Mashi, delivered a paper on ‘Challenges and Opportunities of Revenue Management in Nigeria’. He applauded SAP West Africa for its foresight in hosting the summit.
“SAP’s objective to bring together the key tax and revenue communities in the African continent, debate the current status on related topics, and above all, address concerns around tax collection, revenue
management and related aspects is very valuable. FIRS’ partnership with SAP West Africa is an excellent illustration of how technology can be leveraged to significantly improve Public Service effectiveness’ particularly in the areas of SAP’s innovation on triple digit revenue growth and Tax and Revenue Management solution,” Mashi said.
In a presentation titled ‘Critical success factors in implementing revenue solutions’,  Onyekachi Izukame, managing partner of SAP partner C2G Consulting, explained the steps involved in an effective engagement aimed at generating revenue in this context.
“A summary of the general approach for revenue generation starts from initial assessment of building tax management solution to commencing operations and then expanding scope to cover all revenue sources.
The initial assessment phase consists of three parts: current state assessment and benchmarking; the conducting of options analysis and the development of a roadmap and definition of next steps. With this thorough approach, any organisation can generate and maintain revenue with minimal challenges’ he said.