How Brewers Can Use Synnch to Claim the R&D Tax Incentive

A case study on Revel Brewing Company and how they have implemented Synnch in their brewing and beer development process.

Company Overview

Revel Brewing is a renowned craft brewery located in Bulimba, Brisbane. Founded by Jay Neven in 2016, Revel Brewing is dedicated to producing award-winning craft beers that push the boundaries of taste and innovation.

Solution

Synnch provided Revel Brewing with a consolidated platform to manage their R&D projects and activities efficiently. With Synnch, they could record R&D-specific timesheets, calculate R&D overheads in real time, and forecast R&D tax offsets for better tax planning. The platform simplified the process of recording and tracking R&D activities, allowing Revel Brewing to maintain accurate records throughout the financial year.

Implementation Process

The Synnch team collaborated closely with Revel Brewing's R&D consultant to seamlessly integrate R&D projects and activities into the platform. Revel Brewing's team members embraced Synnch as part of their beer development process, enabling each team member to capture R&D records regularly and effortlessly in an organised and streamlined workflow.

Results

• Significant reduction in time wasted on searching for and chasing up team members for R&D records.
• Improved accuracy in recording R&D timesheets and expenses.
• Streamlined workflows and better collaboration between team members and the R&D consultant.
• Enhanced insights and forecasting capabilities for tax planning purposes.

Testimonial

"Products like Synnch help us stay innovative while providing a structured approach for reflection and assessment. Fundamentally, it allows us to have a single point for records. It has also allowed us to have a process to follow throughout the entire year that is repeatable and that everyone in my team understands."

– Jay Neven, Founder & CEO of Revel Brewing Company

Conclusion

With Synnch, Revel Brewing Co has overcome its R&D management challenges, achieving efficiency, accuracy, and collaboration. By streamlining their R&D record-keeping, Revel Brewing can focus on crafting exceptional beers. Synnch optimises financial management and fosters innovation and accountability. As Revel Brewing continues to innovate, Synnch remains a reliable partner for optimising R&D efforts and audit-readiness.

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