The Indiana Department of Revenue Employs Data Analytics to Save Millions

Analyst Works on a Personal Computer Showing Statistics, Graphs and Charts. In the Background His Coworker and Creative Office.

According to the 2018 Report to the Nations—a study of more than 2,690 occupational fraud cases published by the Association of Certified Fraud Examiners—proactive data monitoring/analysis reduced the duration and median loss due to occupational fraud by 58 percent and 52 percent, respectively.

The Indiana Department of Revenue recently experienced some of these savings by using proactive data monitoring/analysis. According to the Northwest Indiana Times, the Indiana Department of Revenue stopped $9.7 million in improper payments during the 2018 budget year due to identity theft prevention and refund fraud detection programs. The Indiana Department of Revenue has become a national leader in tax fraud prevention by combining innovative technology and dedicated fraud monitoring specialists, along with partnerships with other tax agencies.

Have you considered proactive data monitoring/analytics for your organization? If not, you could be missing out on significant savings. BKD Big Data & Analytics professionals are equipped to enhance marketing strategies, develop competitive advantages, open up new revenue opportunities, reduce risk and improve operational efficiency. Visit our Big Data & Analytics page for more details.

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