BDO’s innovative leaders have successfully created a comprehensive R&D Tax Credit decisioning tool. It is a digital solution that covers the entire process of benchmarking and risk profiling for claims for the UK’s R&D tax relief programme.
Many companies claim R&D credits. However, they are often unaware of their risk profile or how their claims compare to their competitors. The existing process of using individual subject matter experts was time-consuming and slow. This is because R&D decision making requires a high level skill and experience. BDO uncovered an opportunity to improve efficiency and turn its expertise in this area into a digital service.
The Rainbird Decision Intelligence platform was used to model R&D claims using a proprietary data model. The model focused on company size and industry sector. Powered by Rainbird, the BDO R&D Tax Credit decisioning tool produces a priority rating score based on claim benefits estimates, risks and opportunities. It compares the results to claimants of similar size and industry. The use of Rainbird provides greater insight and improves client experience. This is because the technology performs a significant portion of the work with great speed and accuracy. It also allows BDO to scale the service and frees its people to work on advising clients.
As a result of BDO’s innovation, powered by Rainbird technology, their savings are in the region of at least half a working day per assessment. It also allows their people to spend more time with clients on the results of the assessment and agree on the next steps, where appropriate. BDO has accessed new clients and generated new revenue, with the digital service being a major contributor to this success. The Rainbird-powered R&D Tax Credit decisioning tool stands out in the marketplace as innovative and novel, with no competitors of note.
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