International, federal, state and local governments offer billions of dollars annually in tax credits and incentives to promote job creation and economic development. Yet, because of their complexity, few businesses or CPA firms are able to locate many of these incentives, and they end up going unused. Our client needed a better way to take complexity out of managing tax credits and incentives that was leading to missed opportunities.
The solution allows accounting practitioners to identify U.S. credits and incentives (Federal and State) by jurisdiction, industry and credit type, as well as by a specific address.
The solution followed the principals as set out by Enterprise Architecture to include, but not limited to: Information security standards, user experience best practices, coding guidelines.
The logical architecture consisted of private cloud hosted Microsoft SharePoint site using the Business Connectivity Services (BCS) and external content types to a SQL Server datamart. Microsoft Project Server was leveraged for all PMO related capabilities. SQL Server Reporting Services (SSRS) was used for reporting and charting capabilities. Customizes SharePoint search and results was implemented to crawl, index, and execute queries for internal and external data sources.
The solution was designed to support strategic thinking in incentive management and support track and monitor foreign and domestic incentives. It helps to organize incentive details, documents, communications, and reporting requirements in a centralized repository. It will measure incentive progress, including the performance milestones of projects and the realized value of incentives. This allows for timely application and reporting compliance, alerts a company to potential clawback situations, and can improve financial reporting of incentives.