How Upgraded Helped RiskThinking.ai Secure $1,119,000 in SR&ED and $35,000 in Tech Savings
When RiskThinking.ai, a leader in AI-driven risk analysis, decided to expand and optimize their research and development initiatives, they turned to Upgraded for guidance. Working closely with Laurence (Finance & Accounting) and Dilshan (Product), Upgraded navigated the complexities of the Scientific Research and Experimental Development (SR&ED) program—ultimately securing $1,119,000 in SR&ED credits and an additional $35,000 in tech savings.
Pinpointing Key Opportunities
Laurence, overseeing finance and accounting at RiskThinking.ai, wanted to ensure that every dollar spent on R&D would be maximized for tax credits. Meanwhile, Dilshan, heading product development, was determined to keep pushing innovation forward without sacrificing budget.
By thoroughly examining RiskThinking.ai’s operations, Upgraded identified a clear path to SR&ED eligibility and recommended steps to optimize software licenses, data processing expenses, and other key components.
Laying the Foundation for SR&ED Success
To help RiskThinking.ai submit a successful SR&ED claim, Upgraded designed a streamlined process that incorporated rigorous documentation, technical narratives, and accurate financial reporting.
1. Technical Deep-Dive
• Collaborating with Dilshan and the product team to uncover every possible R&D activity.
• Mapping product development milestones to SR&ED’s technical requirements.
2. Financial Compliance & Clarity
• Aligning with Laurence’s financial reporting to ensure all eligible costs were clearly tracked.
• Employing Upgraded’s proven methods for combining accounting best practices with SR&ED’s specialized framework.
3. Full-Service Application Support
• Drafting compelling summaries of RiskThinking.ai’s innovative AI projects.
• Managing back-and-forth communication with government agencies.
• Ensuring deadlines and documentation were handled without burdening RiskThinking.ai’s internal teams.
Key Outcome
Securing $1,119,000 in SR&ED Credits
Through Upgraded’s meticulous approach—combining both technical and financial expertise—RiskThinking.ai’s application garnered $1,119,000 in SR&ED tax credits. This additional capital allowed the company to reinvest in R&D initiatives and accelerate product development.
Finding $35,000 in Tech Savings
In parallel with the SR&ED project, Upgraded dug deeper into RiskThinking.ai’s tech stack and identified overlooked cost-saving measures.
• Cloud Services & Licensing: Negotiating volume discounts and optimizing subscriptions to slash ongoing costs.
• Data Storage Optimization: Redirecting certain processes to more cost-efficient infrastructure.
• Automation & Workflow Refinement: Implementing agile tools to reduce manual tasks and free up team capacity.
By reviewing these areas, Upgraded realized an additional $35,000 in annual savings.
Expanding Global Reach & Strengthening Innovation
With fresh capital and newly optimized budgets, RiskThinking.ai could extend its product capabilities and launch into strategic international markets.
1. R&D Acceleration: Dilshan’s team quickly spun up new experiments, prototypes, and testing environments to refine the platform’s AI algorithms.
2. Operational Stability: Laurence leveraged the SR&ED credits and tech savings to stabilize the company’s balance sheet, reinvesting in talent and infrastructure without straining cash flow.
Building a Foundation for Long-Term Growth
Beyond the immediate financial wins, Upgraded provided ongoing support and strategic planning. This included establishing standardized systems for future SR&ED claims, mapping out a multi-year product roadmap, and ensuring RiskThinking.ai remained in a good position in a rapidly evolving market.
1. Future-Facing Compliance: Preparing Laurence and his finance team to accurately capture R&D-related expenditures year-over-year.
2. Scalable Product Strategy: Enabling Dilshan’s group to prioritize high-impact development areas, leveraging real-time cost tracking.
3. Continual Savings: Routine check-ups on tech expenses to keep overhead minimal and maintain a lean operating structure.
“The way they supported our SR&ED claim was incredible—thorough, timely, and truly beneficial to our bottom line.”
– Laurence, Finance & Accounting at RiskThinking.ai
With Upgraded’s help, RiskThinking.ai remains at the forefront of AI-driven risk analysis, fully equipped to capitalize on future growth opportunities.
Chart Your Own Path to Innovation and Savings
Whether you’re looking to navigate the SR&ED process, discover hidden tech savings, or accelerate product innovation, Upgraded is ready to guide you every step of the way.
Ready to transform your R&D strategy like RiskThinking.ai?
Reach out to Upgraded today and turn your next big idea into sustainable success.
