Challenge

Despite its success, an international accounting firm was working with a big problem. They needed to find a way to reduce the resources spent on reviewing R&D tax claims which are expensive, time-consuming and pulled their best experts away from more meaningful work.

Solution

They met with Rainbird, who looked at how the company operates and supported them to build a knowledge graph that automatically assesses risk factors associated with R&D tax credit claims.

The tool compares the claim assessment with a large volume of baseline claims. It produces a risk score and a full explanation and audit trail for every decision.

With Rainbird Intelligent Automation undertaking a significant portion of the work, the company can redirect its cost savings into other areas of the business.

Outcome

As a result of using Rainbird, the tax firm has achieved cost savings to the equivalent of 5 hours per assessment. With more time and resources to onboard new clients, they have almost doubled the size of their advisory business.

Supporting the company on its path to success, Rainbird Intelligent Automation stands out in the marketplace as an innovative newcomer, with novel functionality and no competitors of note.

Where to next?

The accounting firm now has a strategic program for all tax assessments to be powered by Rainbird, transfer pricing being the most recent launch. The software has become an embedded part of the tax, advisory, and audit labs within the firm.