Case study: Archipelago Technology Group
The Background
In the initial start-up phase, the client, Archipelago, approached us for accounting services and support in tracking costs by project to help them submit grant claims for Innovate UK and annual R&D Tax Credit claims. The client had created a novel technology, now called Powerdrop, to dispense precise, micro-litre quantities of viscous materials which neither conventional spray or inkjet systems could deliver.
The Problem
Following initial discussions, it was clear that the client ran several research and development projects
in tandem and that they needed our help to design a structured reporting mechanism to capture and accurately track costs connected with each specific project to be able to create and substantiate claims to both Innovate UK and HMRC.
The Solution
We spent time with the CEO finding out more about their business and identifying specific outputs that they required from a management information system (MIS). Bearing in mind that any reporting had to meet both the client’s statutory reporting requirements and their own internal management reporting needs, we devised and set up a reporting structure which encompassed project and industry codes which mirrored each of their qualifying categories for making claims.
We worked closely with the client, and whilst initially time consuming this structure has helped the client to simplify the process moving forward and established a strong and robust reporting and claims handling structure, removing the need to maintain additional records outside of the MIS. The MIS platform has developed a firm foundation to suit a growing technology business that meets its reporting requirements now, and in the future, and has been instrumental in successfully claiming Innovate UK grant and R&D Tax Credit claims which have been reinvested back into their business R&D activities.
We are a strong believer in taking the time to learn about our clients by listening to their needs. Communication is key in creating efficient and robust reporting systems fit for growth.
The client said:
“When you start a business the first months are crucial and BCS helped us set up a formal structure that gave us a solid base on which to grow. We now use BCS Wilson Partners for all the elements of running the business: accounts, payroll and companies house filings. It frees us up to focus on what we’re good at: developing and delivering advanced technology to our customers.”
Click HERE to download case study.