Six states using CGI Group-provided (NYSE: GIB) collections and tax modernization projects have collected more than $2 billion in additional revenues, the company announced Tuesday.
California, North Carolina, Virginia, Hawaii, Kansas and Missouri use the company’s benefits-funding model, where CGI starts receiving payment when revenue is generated.
The company has led more than 20 major tax implementations worldwide including collections automation, web-based tax administration and benefits-funded financing, said Ted London, vice president of CGI’s public sector tax, revenue and collections practice.
In California, the company’s enterprise data-to-revenue project has helped generate more than $128 million in 15 months, nearly 81 percent ahead of projections.
When complete, the project is expected to provide the state a $1 billion annual revenue increase and $2.8 billion is projected by fiscal years 2016 and 2017.