Charged with verifying the accuracy of payments for numerous oil and gas leases, a state agency faced the same challenge every year: it could manually examine only a small percentage. With limited staff and legislative caps on the number of employees it could hire, the agency needed to augment its capabilities to meet volume demands. A combination of artificial intelligence, intelligent automation, and enhanced data and analytics was the only scalable approach that would allow the agency to achieve 100 percent reconciliation and compliance. And the stakes were high: the contracts represent significant revenue that helps fund public education in the state.
To help ensure that oil and gas producers comply with the terms and conditions of each contract, KPMG and our alliance partner, IBM Watson, developed a solution expected to:
KPMG was introduced as a strategic advisor to the state agency by our alliance partner, IBM Watson. Given our existing relationship with the state, teaming with IBM Watson came naturally. In fact, the agency’s CIO said the KPMG and IBM Watson teams worked seamlessly to help the agency meet its business needs without expanding its staff. KPMG’s unique breadth brought together a multidisciplinary team to work alongside the agency to facilitate a rapid and comprehensive response. Our team included:
With the breadth and depth of these resources working on their behalf, the agency can more efficiently and effectively review production data and maximize the state revenues that fund education. For the KPMG account team, this objective also aligns with our higher purpose: not only to leverage the technology that enables transformation but to create better lives for our fellow citizens.
Artificial intelligence, intelligent automation, and data and analytics are much more than gee-whiz technologies, so it’s important to understand their capabilities. Intelligent automation, for example, is not likely to eliminate jobs as much as technology will handle low-value tasks so that people can focus on more high-value work. With demands on government agencies only increasing – but without the corresponding headcount – these advanced technologies can give agencies the ability to scale their operation to meet increased demands.
Alliance partners bring a wealth of insights and intelligence that you can access through workshops and one-on-one meetings to help you harness technology to create greater business value.
Be willing to examine some of your processes to find the hidden nuggets you had never thought about before where it would make sense to deploy artificial intelligence, intelligent automation, and data and analytics.
KPMG complies with the auditor independence rules of the AICPA, SEC, PCAOB and DOL. As a result, some services described herein may not be available to our audit clients. KPMG audit clients should check with their respective lead audit partner for more information.