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Overview
A West Coast Rail Transportation Agency is responsible for managing the safe and efficient transportation of passengers and cargo across its extensive rail network.
As an asset-intensive organization, the agency must invest significant resources into maintaining and improving its infrastructure. With multiple funding sources available, including federal, state, and local grants, matching the allocation of these funds to different projects is a complex and challenging task.
In the past, the agency relied on manual, crude allocations of the various funds, generally on the basis of one fund per department. This resulted in some areas of the system being under-funded despite their criticality to operation.
Solution
To address these issues, the agency partnered with Arcadis Gen to use its Transportation Strategy Optimizer Pro (TSO Pro), a comprehensive multi-funding optimization solution. TSO Pro allowed the organization to improve its process for allocating funds where they are most needed by integrating all of its funding sources into a single platform. This platform provided real-time visibility into the agency's financial data, allowing for better decision-making and enhanced operational efficiency.
More importantly, the agency could now benefit from TSO Pro’s predictive modelling powered by machine learning algorithms to forecast project outcomes, estimate costs and future risks, optimize their multiple sources of funding to reach their organizational goals with more efficiency and increase community impact. This was achieved through the solution’s insights into the performance of different assets, which helped the agency to identify areas where it could optimize its funding allocation.
To enable seamless collaboration across departments, the staff used TSO Pro’s dashboard feature, which provided a unified view of the agency's financial health. This feature enabled executives, project managers, and financial analysts to access real-time data, collaborate, and make informed decisions.
Benefits
The implementation of TSO Pro resulted in
significant benefits for the agency. The solution helped the agency to optimize
its funding allocation so it can better direct its resources to the most
critical projects. This optimization allowed them to achieve better outcomes,
enhance the safety and reliability of its network, and improve the overall
customer experience.
TSO Pro also provided increased transparency
and visibility into the funding allocation process, enabling more effective
financial planning and budgeting.
In addition, TSO Pro also enabled more
streamlined financial processes, reducing the time and effort required to
manage multiple funding sources. The solution's unified dashboard provided
executives and other stakeholders with a view of the agency's financial health,
enabling them to make informed decisions and adjust their strategy to respond
to changing circumstances.
Conclusion
The West Coast Rail Transportation Agency's
implementation of TSO Pro resulted in significant improvements in its funding
allocation processes. The solution enabled the agency to optimize its funding
allocation, improve operational efficiency, and enhance the safety and
reliability of its network. Streamlining funding allocation processes and
providing visibility into financial data will enable the agency to make more
informed decisions, collaborate more effectively, and achieve better outcomes
for its customers.
Learn more about how TSO Pro can help your organization.
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