ELECTRONIC TOLL COLLECTION SYSTEM UPGRADING THE TOLL REVENUE
In earlier days, when technology was not in the general run of things especially in the tolling system when most of the process was carried manually; there was certainly a lack of revenue management in the system. No matter how much anyone was doing his job keenly and carefully, human mishandling and mistakes were always present and of course, manual accuracy and precisions cannot defeat the machinery. To enhance the revenue management system, strengthen the toll collection system, eliminate the manual mistakes and other; Electronic Toll Collection System proved as a boon for toll management system.
WHAT WAS HAPPENING IN PAST
In past, the primary concern of a tolling system was to collect revenue only. The process was to identify a vehicle, check it for the existing account and collect tolls via account payment options. Earlier we were controlling and managing toll system manually. The use of technology was limited only to management and auditing of cash which was collected at toll station. The technology was also concerned with reporting system usage.
WHAT’S GOING ON WITH THE LATEST TOLLING SYSTEM
With the implementation of latest technology, the primary intention is leaning towards accuracy with which you are doing your job at toll rather than collection of revenue only. Well, the maintenance of accuracy during a transaction is very crucial and the key component in order to achieve the best through smart infrastructure and state of the art technology. Moreover, you have acknowledgment about how technology is eliminating traffic woes and other issues related to road traffic, toll system, parking system, and security system.
WHY ELECTRONIC TOLL COLLECTION SYSTEM BECOMES AN ESSENCE
ETC is an acronym of Electronic Toll Collection system. It kicks the cash drawer out of the system and keeps circulating the funds within the system. Reducing manual intervention and operational costs and prevention of revenue leakage are some of the value adds of the system.
However, there are some risks that are associated with the electronic system. One of the most common risks is the system going offline. It would lead to far-reaching loss in collection and the situation may worsen if there are long open toll systems. If there would be any failure in the system then multiple lanes would get affected. The result goes into leakage in revenue collection system from top to bottom.
Last few decades, ETC has been used to collect the toll in a more effective and accurate manner. On the other hand, Industry has been undergoing big changes where they have shifted toward electronic means to collect tolls with All Electronic Toll Collection. Both AET and ETC have completely different aspect of operation with respect to manual collection system.
WHAT SHOULD WE DO?
The prime objective is to design the tolling system and taking care of operations and maintenance in order to turn it as a risk management tool and financial cash tool. The best approach, in this case, would be to have your decisions finalized around toll system design, operations, and implementation as these are the important factors in the risk and financial cash management tool. Thus following this approach of creating a sustainable system that would support a sustainable strategy would ensure maximum output with respect to uptime, productivity and most importantly revenue collections.