Globally, government spending continues to rise just as deficits continue to grow, prompting tax administrations, such as the U.S. Internal Revenue Service, to cut budgets. The result is a substantially reduced workforce which proportionately reduces the amount of resources dedicated to audits and collections.
Meanwhile, the market-disrupting forces of globalization continue to complicate audits, enforcement, and compliance—with non-compliance loading billions of dollars into massive tax gaps - amounting to £34 billion in the U.K. and over $450 billion in the U.S.
Agencies that transform into a data-inspired organization can drive efficiency and transparency across the government. To effectively leverage data as a strategic asset, you need data that is collected, organized, and used consistently across the organization—and analytics that can harness the power of the data into actionable insights that solve mission critical problems.