Transactis has won the SME category of the Management Today Analytics in Action Awards for its work for HMRC on the tax credits system. HMRC had set itself a target of reducing error and fraud to no more than 5 per cent and asked Transactis to help it engage with people who received tax credits , collect and assess evidence and make decisions on the circumstances affecting tax credits entitlement. The work involved combining multiple sets of data from more than 20 sources to provide a better picture of claimants’ personal circumstances and then identifying those where there was most potential for over-claiming.
At the end of a three month pilot the work by Transactis, which is perhaps better known for its work with Shop Direct, had reduced the amount of incorrect benefits paid out to claimants of tax credits due to error and fraud by £19 million representing an ROI of more than 50 to 1.
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