Form 990 processing
1000+
fields
99.5%
straight-through processing
80%
reduction in full-time employees
Client
A leading science & technology provider
Goal
Accurately extract all data from the Form 990 (1000+ fields) with near 100% accuracy
CHALlENGE Overview
The Form 990 is an annual tax information filing exempting organizations from paying taxes. There are hundreds of thousands of 990 forms completed yearly that our client processes, each containing 1000+ fields to extract across 12 pages.
The Form 990 is a challenge due to the large number of fields needed to be captured with near 100% accuracy due to the importance of the information. Client gave us this form to process after receiving sub-par results (under 80% accuracy) from other IDP providers.
WHAT WE DID
- Achieved near 100% straight-through processing of IRS Form 990
Business value
- 99.5% straight-through processing
- 99.9% accuracy
- 80% reduction in FTEs
- Potential cost-savings of $20M+ (across all IRS forms)