Boast Accelerates R&D Tax Credit Automation With AI Platform Updates

—Clients get faster claim preparation and accuracy with 30 new data integrations, instant time estimates, and real-time claim views

TORONTO, March 15, 2022 /CNW/ -- Boast, the tax credit and R&D intelligence fintech company, today announced significant new additions to its AI-research and development (R&D) tax credit platform. The additions include over 30 data integrations, on-the-fly R&D claim time estimates, views, and review processes, and streamlined R&D funding for Canadian businesses.  

Boast's mission is to accelerate the innovation of businesses through R&D tax credits and insights about their R&D spending. To do this, the company has made its tax credit software-as-a-service (SaaS) platform more automated to save clients time and hassle. 

Integrating tax credit-eligible data has been improved by out-of-the-box integrations with the most popular payroll, accounting, and project tracking systems.

• Expanded Payroll integrations include Gusto, ADP, Quickbooks, BambooHR, Trinet, Rippling, and over 20 others
• Expanded Accounting integrations include Quickbooks, Xero, Wave, Freshbooks, Sage, and over 12 others 
• Expanded Project tracking integrations include GitHub, Jira, and other formats

"The key to making R&D tax credit automation better for everyone is making data integrations easier,'' said Alex Popa, Boast CEO and Co-Founder. "We reduce the total claims process each year from 100+ hours for a small business down to just 6-8 hours. That saved time can be invested instead into innovation acceleration where the value and outcomes are much more impactful for a business."

In addition to data integrations, Boast is launching a bevy of new application features to simplify the R&D tax credit claims process, including: 

1. A faster onboarding process with automated R&D claim time estimates using client payroll data and Boast AI algorithms 
2. Claim process transparency through the Boast application's project status and claims review features
3. Enhancements to the Boast AI Engine's advanced machine learning algorithms that segment and categorize claims data and identify qualifying projects comparative to the latest tax laws and Boast's ever-growing benchmark of thousands of annual claims 
4. Boast AuditShield to protect clients in the event of a tax credit audit. AuditShield includes readiness for audit through Boast R&D technology reporting at the time of claim submission and expert help from Boast R&D tax credit and technology specialists
5. For firms submitting for tax credits through the Canadian Government's Scientific Research and Experimental Design (SR&ED) program, Boast is announcing an integrated application and funding process, QuickFund, to streamline access to SR&ED refunds. This helps businesses access eligible returns through Boast SR&ED funding within days or weeks of claim estimation rather than waiting the typical 12 to 16 months.  

"Businesses that are innovation leaders grow 260 percent faster than average businesses according to Forrester," said Popa. "That's why we put such a premium on helping businesses get faster, easier access to their R&D tax credits. If they invest those credits back into their business quickly, they can accelerate their growth and competitive advantage."

These new Boast features are available immediately on the Boast software platform. 

About Boast
Boast helps organizations accelerate innovation using government R&D tax credits and R&D intelligence. Boast software integrates financial, engineering, and project tracking data to increase the speed, accuracy, and size of eligible R&D tax credits. Boast removes the mystery, complexity, and difficulty from the process to become an R&D source of truth. With operations across the U.S. and Canada, more than 1,000 innovative companies have leveraged Boast to get more money, faster, for less time and risk. boast.ai

SOURCE Boast

For more information: Chris Cottle, [email protected]