Leading R&D and Tax Credit Intelligence Platform Redefines Data Ingestion by Using Advanced AI Capabilities to Ensure Full Capture of Eligible Work
TORONTO, Aug. 15, 2023 – Boast AI, the leading platform for research and development (R&D) and tax credit intelligence, is expanding its solutions by introducing an AI-enabled universal data ingestion feature. By seamlessly classifying relevant projects, this new feature helps small and medium-sized enterprises (SMEs) access more of the estimated billions in R&D tax credits that go unclaimed each year across North America.
“Our new feature overcomes the limitations of specific project management tools,” said Alok Tygai, CEO, Boast AI. “Now, customers have the flexibility to use popular tools like Monday, Asana, and Google Sheets. while benefiting from the optimized efficiency provided by our AI-powered data classifier.”
This new functionality allows clients to effortlessly connect system-specific project data through the Boast AI customer platform. The AI classifier utilizes an advanced algorithm to accurately map each task to its respective R&D project, assigning a confidence score that represents the accuracy level of the mapping. Higher scores indicate a higher degree of confidence in the precise classification of projects. The system also automatically filters non-R&D projects based on the information provided.
The technical analysis from the AI classifier allows Boast AI’s experts to create comprehensive reports and summaries to further strengthen and streamline the R&D claim process. As well as saving valuable time for clients, this expedites access to refunds and credits while offering clients robust documentation and a strong defense in case they are audited.
“Boast AI has been a game-changer for our R&D tax credit claims. Their platform simplifies the entire process and provides us with accurate and detailed insights. We not only save significant time but also gain a better understanding of our eligibility and potential returns. Boast AI has become an indispensable partner, empowering us to optimize our R&D tax credits and drive innovation with confidence.” – Ekin Ober, Co-Founder & CEO, myConverso
Through its recent survey of North American businesses, Boast AI found that more than 8 percent of respondents are not tracking the financial outcomes of their R&D in any meaningful way. The survey also revealed that over 75 percent of respondents participants favor spreadsheet tools like Excel and Google Sheets over platforms like Jira or Github, revealing that most R&D tracking conducted today remains extremely manual—even with a wealth of automated solutions available to help.
With Boast AI, teams can consolidate any of their tracking systems into a single platform that optimizes their processes and maximizes their access to growth funding. Boast AI remains committed to providing cutting-edge solutions that empower businesses to unlock the full potential of R&D intelligence, supporting innovation and growth across various industries.
For more information about Boast AI and its new feature, please visit https://boast.ai/talktous/
