The Challenge
Research and Development (R&D) tax credits are a critical benefit for companies investing in innovation, allowing them to reclaim a portion of their R&D expenses. However, reporting for these credits can be cumbersome and time-consuming. For many companies, compiling accurate and detailed documentation involves collecting data from multiple sources, organising it into structured reports, and ensuring it aligns with government requirements. This process often leads to inefficiencies and strains team resources.
Common challenges include:
- Manual data entry that consumes valuable time and introduces errors.
- Difficulty tracking R&D project costs, resources and timelines across various departments.
- Complexity in generating compliance-ready reports that meet specific regulatory standards.
The Solution
Leveraging the flexibility of Atlassian’s Jira, Elegance Group has created a solution to implement a streamlined, automated workflow for tax credit reporting. This would be a tailored solution to enable your business to integrate data capture, tracking and reporting into a single, centralised platform.
Key Components:
- Time Logging and Recording: The solution integrates Tempo with Jira for efficient time logging. Depending on where team members work, the solution can capture work logs in multiple systems (i.e. GitLab and Jira) by leveraging APIs to ensure seamless time tracking across both platforms.
- Metadata Annotation: Our solution automatically applies metadata to work logs to simplify user input, and for improved categorisation and reporting. Automation rules filter down metadata to child issues within projects, reducing redundant data entry.
- Automated Workflows and Tracking: Custom workflows in Jira map directly to tax credit reporting requirements, validators ensure each activity includes the required fields, and automations create follow-ups for missing data, route items for review and approval, and pause progression until mandatory checks pass.
- Customised Reporting Templates: To make reporting easier, Jira can be enhanced with custom templates for government-compliant reports. These templates enable the creation of real-time tax credit reports that are accurate, thorough and ready for submission.
The Value
The R&D tax credit reporting solution delivers significant operational efficiencies and compliance benefits:
- Time Savings: Automation eliminates the need for repetitive data entry and manual report compilation, freeing up team members to focus on innovation.
- Accuracy and Consistency: Integrated systems and structured records reduce errors and ensure reliable reporting.
- Regulatory Compliance: Workflows, validators, and templates ensure all activities and costs meet government standards.
- Scalability: As R&D investment grows, the solution scales with new projects, teams, and reporting cycles without adding complexity.
By optimising R&D tax credit reporting with Jira, companies can reclaim more expenses with greater ease, allowing them to reinvest those savings into future innovation.
Success Stories
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Solution Design
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