ATLANTA, July 29, 2013 /PRNewswire/ -- At a time when federal and state budgets are tighter than ever, many are looking for ways to effectively improve taxpayer compliance and customer service issues to recover unpaid or underreported tax revenue. Teradata (NYSE: TDC), the analytic data solutions company, today announced that eight tax agencies across the nation have now recovered a combined $2 billion in tax revenues from non-compliant filers using the Teradata Tax Compliance Solution.
The recent recipient of a GovTek Solution Provider Award for Excellence in Industry and Government Collaboration, the Teradata solution delivers a single view of the taxpayer and audit process to revenue agencies using a combination of people, processes and powerful database technology. Sensitive to budgetary constraints, Teradata shares the risk with customers by using a benefits-based procurement model.
"Teradata partners with government agencies to offer complete, comprehensive and accurate programs for every major tax category through our Teradata Tax Compliance Solution," said John Burke, Vice president, Teradata Industry Marketing. "These tax categories include: sales and use, corporate and franchise, withholding and individual, and business taxes. Our tax solutions are built around a Teradata Tax Data Warehouse, which is an integrated enterprise data warehouse that provides management information, analytical applications and business intelligence to dramatically improve a tax agency's performance."Teradata's closed-loop solution includes the Teradata Integrated Data Warehouse, a logical data model for optimal integration and organization of the data, Defined Business Intelligence Applications (DBIA's), advanced analytical models for Scoring, Ranking and Audit Selection, Business Object reports, a case management system for workload and process optimization, and knowledge transfer from Teradata to agency personnel. A complete solution, the Teradata Tax Compliance Solution provides a comprehensive look at an agency's total business. The result: Agencies now have access to the previously hidden insights needed to better administer and manage the tax and financial issues a tax agency faces every day.