Previously, identification and protection of state revenue while maintaining strong customer relationships has been a tedious process in NSW. To tackle this problem, Revenue NSW's Digital Analytics team has been consistently supporting the compliance programs by developing models that identify areas of non-compliance.
The Digital Analytics team harvests information from a wide range of sources and uses latest forensic analytical techniques. With the help of this, we've been able to engineer views of our customers that provide forward looking insights. These insights give better understanding into impending outcomes. It also helps drive better decision making, and deliver efficiencies within compliance governance.
By providing tactical and strategic support, the compliance programs have been able to grow, and have delivered a significant improvement in treating non-compliant behaviours, increase revenue identification through audits and education, and ensure equitable administration of taxes.
Furthermore, developing a greater knowledge of our customers have reduced the time in detecting customer tax discrepancies. This has reduced the compliance burden and minimised customer disruption. These analytical models have improved operational efficiency, and increased business capacity. This initiative has yielded $200+ million in additional revenue, while promoting transparency and reducing revenue risk exposure in NSW.
