Jazz Pharma Optimize R&D Tax Credits and Employee Work-Life Balance

Jazz Pharmaceuticals has earned a good reputation for its commitment to people. The company built this culture with a focus on their patients, the healthcare professionals who serve them, and their dedicated employees for whom they nurture a supportive work environment. As the company expanded and project complexity increased, it faced new challenges. To meet these needs, Jazz implemented Planisware to enhance time reporting and improve work-life balance, while also maximizing R&D tax credits, thereby supporting Jazz Pharma's financial health and mission-driven approach.

Initial Challenges, Adjusting to Growth and New Systems

A major hurdle Jazz Pharma encountered as it evolved into a nearly $4 billion company was aligning its growing workforce with standardized practices, particularly challenging as many employees work remotely. Melquiades de Jesus (Mel) joined Jazz Pharma six years ago as Senior Director of R&D Project and Resource Management. He saw the need for better planning and forecasting. "Jazz made a commitment to build an enterprise forecasting solution. They were using Planisware, but only for Timecard. They wanted to integrate planning and portfolio management with the Timecard data. So, we rebuilt Planisware from the ground up, set up templates, built the reporting pieces and the forecasting engine."

The biggest challenge was getting employees used to common practices across the team, especially since many worked remotely. "Transitioning from our origins as a smaller, more informally structured company, this marked our first foray into establishing an enterprise-wide tool with uniform practices," Mel explained.

Improving Compliance and Overcoming Apprehension

Jennifer Daubenspeck, Associate Director on the People Business Capabilities team, joined Jazz Pharma in late 2021. Her mission was to enhance engagement with the Timecard system. "One of our goals is to be the best place you've ever worked. To have a good work life, you've got to have a life outside of work as well. So it's particularly important to keep an eye on how people spend their time. If some projects are taking too much time, then we can assign something to someone else. Or do we need to push something out into the future in order to help you have a better work life balance?"

"We needed data. So, my role focused on energizing our team's use of the Timecard system," Jennifer explained. "We embarked on improving compliance. Now, we were excited about how well we understand the Timecard data because it helps us see how our team spends their time on projects. But we also wanted to see how it supports our work-life balance."

At first, employees were reluctant to embrace the time tracking system due to privacy concerns. However, Jennifer and Mel worked to educate them about the importance and benefits of accurate time reporting, which helped drive a big increase in compliance. "Our reporting helps give our managers the insights they need to discuss possible work adjustments with their teams. Once people started to understand the widespread benefits across the board, compliance increased and it's still got room to grow," said Jennifer.

Thanks to all these efforts, compliance with the Timecard system rose from 50% to more than 80%. The data collection process has been reduced from over 30 days manual collection and verification to mere minutes after the year-end close.

Timecard Fuels R&D Tax Credits

Mel explains, "Our work on orphan drugs and development is what helps us qualify for tax credits. Thorough and accurate Timecard data from Planisware is crucial for us to fully leverage these opportunities."

Jennifer added, "For Planisware to deliver accurate forecasts and reliable data, everyone must record their time carefully and precisely."

This time tracking diligence ensures Jazz Pharma adheres to tax regulations and supports their claims during audits. It also makes the tax credit application process more efficient and streamlined, which maximizes the bottom line.

Enhancing Task Management and Forecasting With More Precision

Jennifer and Mel have implemented Planisware Portfolio Rule Mapping to fine-tune task management to create tasks that meet the specific needs of each team member. This ensures that everyone has exactly what they need for their projects. This precision extends into financial forecasting, where Planisware has replaced outdated methods. Mel notes, "In the past, some leaders preferred to write forecasts based on pen and paper. With Planisware, we consistently outperform these old techniques with speed and accuracy. The system's consistent methodology and clear assumptions help us create reliable and repeatable forecasts. The forecast generation, collection and vetting process has been reduced to one third of the time from over six weeks to less than two weeks."

Moreover, the use of Planisware has significantly boosted team engagement with Timecard data. Jennifer observes, "As we've improved compliance, there's growing interest in the data we collect. Our team is more engaged because leaders see how their data impacts company decisions. Such a process has created a virtuous cycle where increased visibility leads to more accurate time entries. This in turn promotes a culture with the accountability and transparency that reflects our core values."

Embracing Innovation for a Brighter Future at Jazz Pharma

The partnership with Planisware is driving Jazz Pharma toward significant achievements in work culture and financial health. By enhancing time tracking and project management, Jazz has not only streamlined operational processes but also fortified its dedication to its team's work-life balance and financial stability through maximized R&D tax credits. This collaboration highlights Jazz Pharma's commitment to innovation and excellence, ensuring it remains a leader in the pharmaceutical industry, where both the workforce and business thrive.