Increasing the Pharmaceutical R&D Tax Credits with data analytics
Unfortunately, many pharmaceutical companies are not taking full advantage of these business
incentives by not having the necessary comprehensive data collection and reporting systems to
generate documentation to adequately support their credit claims. Many activities and related
expenditures in the pharmaceutical industry are eligible for significant research- and developmentrelated tax credits and incentives. Having a comprehensive analytics solution that will aid in generating
the right reporting will aid in recoup some of their R&D investments is by taking advantage of lucrative
tax credits. capturing the appropriate activities, the more credit benefits they will receive.
A fortune 100 big pharma client approached Intuceo® team to modernize the R&D tax credit analytics
data collection and reporting system to quickly, efficiently and generate the reporting while providing
insight into the leakage. Intuceo® team of experts with proven BI frameworks, tools intellectual
property and valued-added Auto ML tools partnered with the client and implemented a modernized
Quality Analytics and Reporting data eco system.
- Integrating data across multiple time management systems at 1 hours increments.
- Automated business rules to validate time entries by role, job title, projects and activity and transform data qualified for credits
- Integrate with Govt. tax credit and finance systems generate reports for submittals.
- Easy to use visual analytics and dashboarding to conduct credit analysis and reconciliation.
Having a comprehensive analytics solution, the client teams were able to efficiently
- Monitor the Realtime efforts against Government Grants.
- Ensure all the timesheets being entered on time to Government submissions
- Reconciliation analytics to reduce the errors and leakage
