How ICU Medical earned a huge tax credit when PI showed them how to monitor and report on all of their R&D projects more effectively.

Meet ICU Medical

ICU Medical
Industry
Healthcare
Employees
9000+ people
Challenges
  • Lack of visibility for the whole team
  • Cumbersome manual project tracking
  • Scattered project data
  • Redundant projects begun because decisions to start new projects made without context
  • Inability to easy track resource allocation and actual hours worked

Main Challenges

ICU Medical typically works on a list of 35 to 40 projects at any given time. The company's goal when it came to projects was to enable visibility for the group. The problem was that there was little to no communication and projects were becoming redundant and taken out of context. Instead, they wanted to create a common viewpoint so that they could collaborate and work together to make smart decisions.
"We've qualified for a huge tax credit by capturing our research and development (R&D) hours. The tax law in California has requirements about tracking R&D hours and – if they meet certain criteria – the company qualifies for a tax credit. With Project Insight, we're able to gather all the data on the hours that are being worked on for R&D projects, submit them, and receive a significant tax break." - Manager of Program Management

Why PI®

ICU Medical's program management team needed a solution that would:
  • Enable time tracking and resource allocation
  • Provide a central place for visibility into all projects, company-wide
  • Be web accessible and easy to learn
  • Automate many of the tasks involved in project management

Outcome

ICU Medical was pleased with all Project Insight had to offer and now uses PI for all its R&D and program management projects. PI has given ICU Medical a foundation for building their project selection and approval process.
  • User friendly and web-accessible
  • Ability to customize things, tweak, and modify
  • Provides broad and deep visibility into the full spectrum of company projects
  • Automates many repetitive project management and reporting tasks
  • Enables resource allocation
  • Detailed time tracking

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