Company Overview
Revel Brewing is a renowned craft brewery located in Bulimba, Brisbane. Founded by Jay Neven, Revel Brewing is dedicated to producing exceptional craft beers that push the boundaries of taste and innovation.
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Challenges
Before implementing Synnch, Revel Brewing faced significant challenges in managing its Research and Development (R&D) records. These records were scattered across multiple platforms, leading to inefficiencies and a lack of streamlined processes. Retrieving evidence of R&D activities for tax claims was a time-consuming and arduous task, often requiring lengthy video calls and extensive back-and-forth communication with their R&D consultant.
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.
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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.
Key Takeaways
• Synnch provides a simple and effective solution for breweries like Revel Brewing to manage their R&D activities.
• The platform facilitates innovation by providing a structured approach to R&D management.
• Seamless integration into existing workflows ensures widespread adoption and understanding among team members.
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.