Our client is an independent global provider of cash management solutions designed to help businesses minimise costs and eliminate inefficiencies around cash.

They sought an advance in the field of technology through the development and improvement of their proprietary software technologies, supporting their enhanced automated cash machine solutions.

The Challenge

Building on the development of earlier iterations of its unique automated cash solution technologies, the company’s specialist software engineering teams sought to resolve the technological uncertainties to significantly enhance the performance and functional conditions of its prototypes. By targeting integrated reporting, monitoring and analytical capabilities, they were hoping to further develop and potentially white label their software platform (pursuing a software-as-a-service (SaaS) model).

Their advancements led to a huge mechanical overhaul of many established systems, with many being redesigned and built from scratch. They also had to overcome system uncertainties, with the redesigns and amendments to the different components and new components introduced to the system.

The Project

Our team were instructed by this client to carry out an analysis of their R&D activity, and we started by conducting interviews with the company’s key technical personnel and competent professionals.

By analysing a wide range of projects and the spectrum of the company’s work, our technical and financial specialists were able to understand and record information about the qualifying R&D activities. We found that extensive qualifying activities were undertaken which came at a cost to the company.

The Outcome

Taxar has worked with the client over several financial years and has helped them to claim over £24.k worth of corporation tax savings. The funds resulting from the company’s innovative activities have allowed the company to invest further in the latest technologies in the financial services sector.