Government tax-collection agencies have a big job, but Big Blue is trying to help. IBM has unveiled its Tax Collections Optimizer, a software application that promises to help government authorities track down and collect unpaid or underpaid taxes.
New York signed on as an early adopter of the service, and says it has already helped it recover more than $1 billion in uncollected lost tax revenue.
Datamation has the details about IBM’s new tax-collection software.
IBM announced the release of Tax Collections Optimizer, an application that promises to make life much easier for tax-collection agencies like the IRS as they try to track down and collect unpaid taxes.
The software, developed by IBM’s (NYSE: IBM) research and global business service units, simplifies the tax-collecting process by running data analytics that determine the likelihood of collecting unpaid or underpaid taxes, the best time to call a tax payer to set up a personal visit and how to manage each collector’s workload to improve the overall efficiency of the agency.
The state of New York is among the first governments to install the software, and officials predict it will help increase the state’s tax-collection revenue by more than $100 million in the next three years.