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The Accenture Analytics Compliance Framework takes revenue agencies to the next level with predictive analytics.
As public sector administrations continue to struggle with mounting deficits, the revenue agencies that serve them face a major dilemma: how to reduce costs while preserving taxpayer service levels and collecting more revenue. Some government agencies are finding success in dealing with this issue by using analytics to help them make more informed decisions, deploy limited resources more effectively, significantly reduce operating costs and drive mission-critical business results.
Advanced technology is enabling improvements in tax processing and increasing the potential of analytics to support revenue agencies. Taxpayers now routinely file their returns electronically, data from diverse sources is accessible and available to agencies, and technology is faster, cheaper and more scalable. Innovations in analytics allow revenue agencies to predict events and behaviours before they occur, which strengthens their ability to plan more effectively.
By capitalizing on the availability of taxpayer data, changing taxpayer behaviours and advances in technology, revenue agencies are able to gain a better understanding of the characteristics and motivations of different types of taxpayers—and an opportunity to influence taxpayer behaviours to less costly channels that provide increased taxpayer benefit. And, by integrating predictive analytics into their core operations, revenue agencies can move from detecting and correcting noncompliance to actually stopping it from happening.
Revenue agencies seek to prevent, detect and correct noncompliance. Until now, agencies have used analytics to help correct noncompliance after a transaction has been completed. However, Accenture has developed an analytics framework that helps revenue agencies prevent and detect noncompliant transactions as they are being processed, and strengthens the agency’s ability to correct noncompliance.
The Accenture Analytics Compliance Framework offers a consistent and disciplined approach to managing and optimizing the data and the business process models that underpin compliance activities. The framework uses analytics to predict and prevent noncompliance before processing is complete, bringing analytics to the heart of an agency’s operations and embedding advanced analytic technologies within existing processes and systems so agencies can carry out real-time risk assessment during core transaction processing.
The Accenture Analytics Compliance Framework incorporates continuous improvement loops that ensure agencies adapt to changing customer behaviours and changing risks.
The Accenture Analytics Compliance Framework delivers many benefits for revenue agencies:
Improves effectiveness. It enables revenue agencies to intervene early to prevent noncompliance.
Creates efficiencies. Sharing the analytic processes across compliance activities offers more productivity and effectiveness.
Reduces costs. The framework uses technology accelerators, including real-time modeling, to reduce costs quickly.
Drives business results. An integral part of the framework, the continuous improvement process helps ensure that business results remain a key focus.
Breeds analytical talent. It deepens the analytic skills within an agency.
Accenture can help agencies get started or improve existing analytics programs. Using our discovery assessment and pilot programs, revenue agencies can get a fast, complimentary analysis of the potential of analytics and create quick-win scenarios.
Accenture focuses on the innovative development of sophisticated techniques in fraud and compliance analytics to address many of the key business challenges facing revenue agencies.
December 8, 2011
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