VANCOUVER, BC, Aug. 15, 2024 /PRNewswire/ – Boast has been named the Gold Winner in the Technical Innovation of the Year and the Technology Breakthrough of the Year categories for the 2024 Stevie® Awards for Technology Excellence, “the Olympics for technology,” recognizing Boast’s AI-driven R&D tax credit solution that’s helped secure hundreds of millions in innovation capital for leading businesses across North America.
The Stevie® Awards for Technology Excellence celebrate the remarkable accomplishments of individuals, teams, and organizations shaping the future of technology across all industry sectors. More than 600 nominations from organizations of all sizes in 21 nations and territories were submitted this year for consideration in a wide range of tech-related categories.
Boast was recognized for “revolutionizing the R&D tax incentive process” through its innovative, data-driven R&D tax incentive solution, leveraging machine learning (ML) and artificial intelligence (AI) to streamline the traditionally cumbersome and error-prone process of preparing and filing R&D tax claims. Boast’s proven process both reduces the time required to classify and analyze R&D activities—from 60 hours of a customer’s time filing alone to just 5 hours on average working with Boast—while also enhancing the accuracy and completeness of the R&D tax credit claims. This advancement addresses the historical challenges of missed qualified work and stringent audit requirements, providing a more efficient and reliable solution than in-house or traditional accounting solutions.
More than 100 professionals worldwide participated in the judging process to select this year’s honorees.
“Boast’s AI-Driven R&D Tax Credit Solution presents a remarkable innovation in the financial technology sector,” said one of the Technical Innovation of the Year judges in response to Boast’s winning application. “The solution not only streamlines the process but also enhances the quality of claims, ensuring comprehensive coverage and compliance. The focus on automation and data-driven insights is a notable strength, making this technology a valuable asset for businesses aiming to maximize their R&D tax credits.”
“This is a forward-thinking application of AI in addressing age-old inefficiencies through document parsing and cost extraction approaches,” reads another judge’s comments regarding Boast’s winning application for Technology Breakthrough of the year. “[Boast’s] ability to handle intricate data with precision while providing clear financial insights is particularly praiseworthy.“
“Boast empowers our clients to focus on innovation while we unlock the full potential of their R&D tax claim,” said Boast CEO Imad Jebara in response to Boast’s win. “We’ve worked hard over the past year to enhance our platform with the latest AI and ML capabilities to help enhance our proven processes, and look forward to continuing to lead the way in transforming how businesses fuel and fund their innovation.”
“We congratulate all of the winners in the inaugural edition of the Stevie Awards for Technology Excellence for their outstanding performance,” said Stevies president Maggie Miller. Details about the Stevie Awards for Technology Excellence and the list of 2024 Stevie winners are available at www.StevieAwards.com/Tech.
About Boast
Boast specializes in helping organizations claim and access every eligible R&D tax credit, minimizing audit risks and time-consuming processes in Canada and the United States. Boast combines in-house technical and R&D tax expertise with the latest AI technology to help companies effortlessly navigate the complexities of tax credits, enabling them to focus on what they do best: Innovate.
About the Stevie Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Technology Excellence and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations and territories. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
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SOURCE Boast.AI
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