Although the current technology loss reduction platform has achieved certain results in theoretical line loss calculation, reactive power and power flow scheduling optimization, it lacks effective perception of the reactive power compensation capability of the power supplier. It also lacks accurate guidance on the reactive power compensation willingness of the power consumer. In view of these problems, this paper puts forward a construction scheme of provincial technical loss reduction interactive management and control platform considering the potential of reactive power compensation of both power supply and demand sides. It also puts forward the design and implementation scheme of two technical loss reduction advanced functions of "operational state diagnosis of low voltage reactive power compensation equipment" and "special transformer user reactive power potential mining". The former can effectively improve the effective utilization rate of low-voltage reactive power compensation equipment and fully tap the network loss management potential of a low-voltage distribution network. The latter forms a collaborative governance, and a mutually beneficial and win-win reactive power loss reduction system through the information sharing and interaction mechanism of the platform. At present, the platform proposed in this paper has been put into practical application in a provincial power grid. The verification accuracy of the former function mentioned above is 93.33%. The latter has sorted out a total of 707 target users and gradually carried out treatment under the guidance of the platform mechanism.