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Boast.ai
Boast.ai assists U.S. and Canadian companies in recovering R&D costs through AI-powered tools for federal tax credits like the US R&D Tax Credits and SR&ED.
Boast Overview
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Key Focus Area: Boast is primarily focused on facilitating R&D tax credit claims for businesses in North America. Their services cater to a wide array of sectors including software development, manufacturing, biotechnology, energy, and telecommunications.
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Unique Value Proposition and Strategic Advantage: Boast’s key advantage lies in its integrated approach combining in-depth technical and R&D tax expertise with an AI-powered platform. This enables the company to streamline the complex process of claiming R&D tax credits, ensuring that more eligible expenses are identified with minimal effort from the clients. Their platform supports real-time tracking and analysis, secure data management, and provides users with a comprehensive and transparent claim process.
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Delivery of Value Proposition: Boast delivers on its promise by offering:
- AI-Driven Assessment: The platform continuously scans for eligible R&D activities, reducing the need for manual input and enabling more accurate claims.
- In-House Expertise: Their technical teams review and validate claims to minimize errors and audit risks. Boast's audit defense services ensure that clients can handle any inquiries with confidence.
- Economies of Scale and Efficiency: Through integrations with existing client systems (e.g., payroll and project management software), they automate the claim documentation process, reducing the average time required from around 40 hours manually to just 5 hours with Boast.
- Financial Optionality: Their QuickFund service allows clients to access SR&ED tax credits up to 12 months in advance, providing liquidity to fund ongoing innovation and growth.
In summary, Boast’s focus on R&D tax credit claims coupled with their AI platform and technical expertise positions them as a solution aimed at minimizing effort and maximizing claims for innovative companies. Their strategic approach not only saves time but also improves the financial capabilities of businesses by unlocking government funds faster and more efficiently.