Technology Innovation – New South Wales Procurement, NSW Treasury

WINNER: TECHNOLOGY INNOVATION

WINNER: New South Wales Procurement, NSW Treasury PROJECT: Transformational AI Spend Analytics across NSW Government

NSW Government is the largest consumer of products and services in the southern hemisphere, with $30bn annual spend and 10 million transactions through 150 agencies. But repeated attempts to improve planning and decision making had delivered only limited success. In 2018, NSW Procurement implemented a whole-of-government spend analysis solution, using artificial intelligence to enable each agency quickly and consistently to visualise accurate spend data in ways that meet their specific needs.

Machine learning and optimised algorithms were designed to improve efficiency by reducing repetitive manual work, improving the first pass spend classification accuracy, and tailoring algorithms and input parameters for each agency. A dashboard enabled dynamic and interactive visualisation.

The result? NSW Procurement improved first pass accuracy from less than 50% to 95%, and achieved a 50% reduction in report lead time, a 95% effort reduction to just 24 hours and immediate spend visibility.

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