How Tyson Achieved 100% Compliance with Incentify
Tyson Foods focuses on innovation and transparency across its business. Today, Tyson not only has the fastest growing portfolio of protein-centric brands, they offer greater transparency into everything they do.
While most companies rely on Excel spreadsheets to keep track of C&I, Tyson took the innovative approach to rely on technology for improved compliance and transparency.
Tyson has a portfolio of C&I with more than $200M. Even one additional point of compliance is worth in excess of $1M. The investment with Incentify was an easy decision because the partnership enabled Tyson to achieve 100% compliance on the platform.
Incentify supports Tyson with its initiatives, including risk management, strategic planning, and security.
Risk Mitigation
From a risk mitigation perspective, Tyson identified the value of optimizing its C&I portfolio by first understanding the catastrophic impact of a single compliance mistake. With such a large portfolio, Tyson needed a technology partner to keep track of every deadline and compliance requirement.
Strategic Initiatives
From a strategic initiative perspective, Tyson sought to include C&I at the planning stages of large projects. That means using Incentify to make connections within the tax department and to other departments like real estate and financial planning.
With more than 25 potential projects mapped onto the Incentify platform, Tyson uses Incentify to proactively incorporate C&I into the financial stack.
From discovery to utilization, Tyson uses Incentify as the strategic cornerstone of its C&I program. This reveals the value of Incentify as not only a business tax credit technology, but as a vital enabler of the entire financial team at Tyson.
Security
Tyson was looking for a cloud-based partner with best-in-class security. Incentify is 100% encrypted, as are its automated backups, read replicas, and snapshots. Data encryption uses industry standard AES-256 encryption algorithms. Security features include:
256 bit AES encryption
Dual continental data residency
Box, DocuSign, AWS or Azure depending on client needs, and TrustE
Compliance with SOC 1, SOC 2, SOC 3, FedRAMP, FIPS, ISO 9001, ISO 27001, CIS and more
To read more about how Tyson Foods achieved 100% compliance with Incentify, read the case study.
