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The Roads and Transport Authority (RTA) has launched the initial stage of the automated cost accounting system, the core stage out of 3 stages set to be accomplished by end of this year. The system is considered the best worldwide in the operational cost accounting system. RTA is introducing the system as part of endeavours to realise its sixth strategic goal: Financial Sustainability.
“Launching this basic stage of the automated cost accounting system is the first of its kind across the Dubai Government level,” said Ahmed Al Kaabi, Executive Director of Finance at RTA’s Corporate Administrative Support Services Sector. “It is an advanced scientific technique for registering and analysing the financial operations of RTA. It enables the systematic display of information through periodic reports depicting the circumstances and results of the operational processes. It computes the costs of activities, which enables RTA to carry out quality operations at minimal costs. The system is part of the modern management approach adopted by RTA to realise the targeted revenues,” he explained.
“The objectives planned for under this system are part of RTA’s Sixth Strategic Goal (Financial Sustainability), which involves upgrading the efficiency of computing the cost of RTA’s activities through adopting standardised methodologies of specifying the costs. It enables the automated linking of 14 operational systems at RTA to generate a unified automated system for accurate compiling, analysing and tracking of data that saves the time and effort needed to accomplish the job,” added Al Kaabi.
“Features of the system include generating the financial details needed for planning and monitoring numerous financial activities, enabling taking decisions related to the pricing of RTA’s services and preparing estimated budgets and budgetary controls. The systems assists in maximising the operational efficiency and profit by adopting the standardised costs approach in identifying the best practices for realising this objective. The system has a proven efficiency in detecting areas of overspending and soaring costs promptly; which triggers the adoption of optimal techniques for curbing costs and proceeding with the planned objectives.
“In its capacity as one of the biggest government entities in Dubai, the RTA has a massive number of operational processes due to the numerous services it offers to the public. So it was imperative to develop a sophisticated financial system that assists in monitoring the costs of operations, and even reducing them to boost the achievement of financial sustainability,” concluded the Executive Director of Finance at the RTA.
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