ScaleFactor: the Antidote to Mid-Month Accounting Blues

work-2005640_960_720

A former employee of a Big Four accounting firm was frustrated with the lack of innovation in the accounting and financial sectors.  His solution? Quit his job and start something new.

In 2014, Kurt Rathmann began ScaleFactor from his living room table in Austin with the vision of making traditional back office functions more efficient, especially in accounting and payroll. Rathmann carried out field research, essentially going door-to-door to investigate the needs of small businesses and incorporated his findings to develop a state of the art accounting software solution.

From bookkeeping, invoicing, to tax filings, ScaleFactor automates these time-consuming tasks to make them more efficient and to offer small business owners greater insight into the health of their business.

One of the startup’s key features is real time reporting. Most accounting firms release financial statements at the end of the month, making the first 10 to 15 days of the month “crazy busy,” explained Rathmann. “That forces the accountant to get into a phase of just trying to get it done. There are long hours, they’re not making it home for dinner, they’re just trying to complete the work.” On top of that, the data is about 30 days old and may not be as relevant. Instead, by using real time data analytics, a company can get advanced insight into its business. Rathmann said, “The data cycle gets cut from 30 days to just one or two days, and the business owner can really dictate some future actions they’ll make, and tactically navigate the business, rather than just react to it.”

Rathmann identified other bottlenecks in traditional accounting. “A lot of people dread interacting with their accountant, for whatever reason,” he said. “We’re really trying to change that.” When an owner has a pressing question, they don’t want to wait for their accountant to respond in one or two days – they expect immediate answers. Using machine learning, ScaleFactor determines how to send real-time notifications to facilitate better communication between the small business owner and the accountant.  Important messages will be sent via text message while less urgent correspondence would be sent by email.

“It’s a response to a younger generation and less personal relationships that are part of a millennial-type generation,” Rathmann said. “It’s also that people are less patient for access to data and to information that is theirs. If there is something financial-related to their business, it’s very personal to entrepreneurs and small businesses. It’s more of, ‘I want it now,’ and, ‘Why can’t I have it now? I’m supposed to have it now.’ That’s a lot of the reactions we get in the connected world we live in. People expect faster.”

Are you developing new solutions to optimize office operations? Did you know your R&D activities could be eligible for the R&D Tax Credit and you could receive up to 14% back on your expenses? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is Texas’ largest Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

 

 

There’s no stopping its growth: Texas Business is Still King

eagle-323382_960_720

The results just in: Texas Business is still King!

CNBC’s “America’s Top States for Business” 2018 study has declared the Lone Star State as No.1. The study ranked American states based on 10 metrics ranging from economy to quality of life. Data was collected from official government sources, business and policy experts, CNBC Global CFO Council, and other sources. The verdict? 2018’s study proved that Texas Business is still King.

Texas is the only state to have ever received the top spot four times. The last time Texas was declared No.1 was in 2012 though the state consistently scores well across the board, having never ranked below the top 5.

The energy sector is a major driving force for the economic boom in Texas business, with oil prices rising 60% and the sector creating over 350,000 jobs just last year. According to its rankings in specific categories like infrastructure (the state ranked No.1), access to capital (No.3), technology and innovation (No. 9), and cost of living (No.11), Texas business is looking pretty good.

CNBC isn’t the only one that’s recognized Texas’ economic dominance. A “2018’s Best & Worst States to Start a Business” study by WalletHub also acknowledged that Texas Business is still King. After evaluating all 50 states according to business environment, access to resources, and business costs, the study determined that Texas was the ideal location for new businesses.

Are you engaging in research activities to keep Texas businesses at the leading edge of the competition? Did you know your research activities could be eligible for the R&D Tax Credit and you could receive up to 14% back on your expenses? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is Texas’ largest Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

This Will Make Your Tail Wag: Atlanta-based PuppyFax to connect responsible breeders, owners

puppy

Not much is cuter than a puppy, as they (usually) come with a wagging tail and unconditional love. But when searching for a pup, how can you be sure they didn’t come from a puppy mill or have hidden health issues? An Atlanta-based startup via the University of Georgia wants to give potential dog owners piece of mind with its newest app, PuppyFax.

Like searching for a new-to-you car, PuppyFax, founded by Tommy Naranjo and co-founded by Preston Tucker, provides prospective dog owners with a pup’s lineage and owner history. In an article for The Red & Black, Tucker’s family bought a German Shepherd, only to experience health complications with the new pup. The dog, according to the family’s vet, came from an irresponsible breeder, likely one who was operating a puppy mill. For context, a puppy mill is defined as an establishment that breeds puppies for sale, typically on an intensive basis and in conditions regarded as inhumane. According to the American SPCA, puppies who are reared in a puppy mill can come with health and behavioral problems that are difficult or impossible to treat–comparable to a car that has been ‘abused’ by a previous owner.

“PuppyFax is basically a platform, kind of like Airbnb, that connects people who are searching for a puppy, and they’re wanting a purebred dog or are going through a breeder, to responsible breeders,” Naranjo said. The app will allow owners to view a puppy’s verified health documents and pedigree information. All PuppyFax breeders must meet the guidelines set by the platform.

Naranjo hopes to expand the PuppyFax application nationwide to help breeders, buyers and dogs across the U.S. The app is set to launch “very soon.” The PuppyFax website can be located by clicking here.

Working on innovative platforms like PuppyFax? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

No Rabbits Here: Austin-based HOPZERO battles cybercrime with hops

ransomware-2320793_960_720

Cyber-security is one of the most pressing challenges companies around the world will have to address in the coming years. Here are some recent statistics on cybercrime from thebestvpn.com:

– In 2016, the U.S government spent $28 billion on cyber-security, compared to $7.5 billion in 2007.
– According to Microsoft, the potential cost of global cyber crime to the global community is $500 billion, and a data breach can cost a company $3.8 million.
– Ransomware attacks increased by 36 percent in 2017.
– According to Warren Buffett, cyber attacks are the biggest threat to mankind, and in his opinion, this threat surpasses nuclear weapons.

With disturbing statistics like these, what can be done? An Austin-based company is developing a promising solution.

HOPZERO provides cyber-security by monitoring hops through its cloud-based service, Hop Sphere Radius Security. “For the last two years, I’ve been developing this technology to limit how far data can travel, and we do that by hop count,” Bill Alderson founder and CEO of HOPZERO said. For context, hops are one portion of the path between a source and a destination. By way of the internet, a data packet passes through bridges, routers and gateways that connects network devices, and thus the passing of a data packet is called a hop.

HOPZERO controls the number of hops a packet of data can make before it expires in a network—this means data is directed to destroy itself before it is used for pernicious or malicious purposes. “Every packet has a toll value in it, and we limit that toll value based upon our analysis that looks at every device it’s going to, and we record the hop count to and from all their peers,” Alderson continued. If a data packet is moving more hops than the set amount, HOPZERO will cease any further data movements. The hops technology controls distance, while firewalls control access, and when together, they make for an innovative defense system.

It is worth mentioning that a web server can be restricted to a local area, all the way up to another country. This is called a device hop radius. Any network device can be restricted to a set safe zone, even if a firewall is not present.

HOPZERO also wants to develop protections for various devices, including the copious amount of existent IoT devices out there. “We are automating to bring it to thousands of systems. We believe we have found the solution that everyone has been looking for that will significantly protect our government, businesses, homes and personal devices from hackers and malicious malware,” Alderson said.

Are you developing new cyber-security technologies?

Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is Texas’ largest Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Smart Cities to Become More Connected, Personalized: MIT-startup Soofa creates digital content board, the Soofa Sign

city

What makes a smart city ‘smart’? According to a ResearchGate paper, a smart city is defined as, but not limited to being, “instrumented, interconnected and intelligent.” Based on this definition, Cambridge-based Soofa accomplished just that with its Soofa Sign, which is the first digital bulletin board of the 21st century.

“In any big city, there’s so many things to do. It’s almost an analysis to figure out where to go next, what to do, where are my friends,” Soofa CEO and Co-founder Sandra Richter said. “What this means is, suddenly for the first time, you can share information with your local neighborhood.”

The Soofa Sign is an information sharing platform that has a 42-inch solar powered e-ink display, and members of the community can post announcements via the sign’s content management system (CMS). The Soofa Sign can also display local transit times, PSAs, work of art, and social media feeds. “Soofa makes cities a lot more fun and a lot more connected so that we come back to a bit of a true neighborhood feel,” Richter said. The sign is like a giant Kindle, except it uses less power, runs on renewable energy, and has similarities to a Facebook wall or Twitter timeline. Content contributions, including those previously mentioned, can range from job postings to advertising a business. To do so, one simply goes to talk.soofa.co and registers for the service—convenient and quick when compared to traditional methods. To visually grasp these concepts, check out the video below.

Not only can the signs display curated community content, but they will also collect data, which is meant to assist urban planners and community developers with future building projects. The data collected is not personally identifiable, and Richter commented that Soofa is “trying to get more quantitative data from the health of your public space in a non-invasive way.”

Soofa Signs can currently be found in three American cities: Boston, Las Vegas and Atlanta. For more information on Soofa and the Soofa Sign, please click here.

Are you  also developing new and innovative projects like Soofa? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is Texas’ largest Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

 

Reducing Agriculture Footprints in Dallas: Eden Green Technology develops Crisply, an optimal plant growth process

lettuce

A Dallas-based vertical farming company is revolutionizing how food is produced. Eden Green Technology’s Crisply is flaunting its lush, emerald green produce as a cleaner and safer alternative to traditional agriculture methods.

Soil, which can contain E. coli and Listeria, both of which have had their shining moments in American headlines as of late, poses more risks and has less of a yield when producing greens. In comparison, Eden Green’s vertical farming techniques require less water and land than traditional soil methods. The company has reportedly also reduced its cooling costs by one-eighth when compared to other greenhouse methods.

Free of pesticides, herbicides and chemicals, Eden Green uses a vine system where each plant is enclosed in a microclimate bubble. “We perfected this transformative vertical closed-loop solution to flow water, nutrients, oxygen and sunlight into the plants’ microclimate at the perfect ratio, in order to optimize the natural powers of photosynthesis to maximize output for people who need it most,” the company website boasts.

The seeds used are organic and non-GMO. All plants are grown under natural light and grow year-round. Eden Green expects to grow 10 to 15 harvests a year with a crop loss of 1%. This is a massive improvement when compared to traditional soil-growing, which yields two harvests with a crop loss of 30%. With these facts and figures, Eden Green is believed to be the first vertical farm with the scalability to meet the produce needs of regional food distribution systems.

“We pick our produce, package the same-day, and stamp the date when they are harvested on the package, so consumers know exactly how fresh their salads are. We also make it possible for our retail partners to put our produce on their shelves immediately after they’ve been harvested, in some cases that same day. No other company does that,” said Jaco Booyens, Eden Green’s co-chair.

The Crisply line will debut in Texas Walmart stores come mid-July. More information about Eden Green Technology and Crisply can be found by clicking here and here respectively.

Are you developing agriculture solutions? Are you reducing environmental impacts within agriculture? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services to the state of Texas. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Finding the Vulnerable with Biometrics, Artificial Intelligence: Atlanta’s Trust Stamp to aid in locating those lost to human trafficking

security

Artificial intelligence may put an end to a long-running industry: human trafficking.

The average age a minor enters the sex trade in the U.S. is 12 to 14 years old–many of the victims being runaway girls who were sexually abused. According to dosomething.org, trafficking involves various forms of exploitation, such as forcing victims into prostitution, subjecting victims to slavery or involuntary servitude and compelling victims to commit sex acts for the purpose of creating pornography. Thankfully, Attorney Generals in the U.S. and Mexico are planning to implement a new system that will help to locate victims of human trafficking.

Trust Stamp, an Atlanta-based startup, will be providing the ‘meat and potatoes’ of the life-saving technology. According to the company website, “[Trust Stamp] creates proprietary artificial intelligence solutions; researching and leveraging facial biometric science and wide-scale data mining to deliver insightful identity & trust predictions while identifying and defending against fraudulent identity attacks.”

“We authenticate … by applying multiple proof-of-liveness/attack detection techniques to a still image of video (“secure selfie”),” the company website said. Artificial intelligence then compares the secure selfie to a photo ID and/or images that were taken from social media (“pattern matching”)—this is to verify an identity. “The secure selfie is then converted to a 3-D mask and a biometric hash that is stored on a server and/or Blockchain. The hash can be used for subsequent authentications or to attach and access relevant data.” Having been implemented within banking platforms to increase security, how does this technology apply to the sex trade?

To summarize, a similar system will use facial recognition data that is pulled from photos that families of missing individuals have submitted to build a shared database network. In return, a probable match will then alert lawmakers if said individual is caught on a security or other public camera. By separating biometric data into 128 individual measures, it can then be converted to a non-reversible identifying sequence, otherwise known as a ‘hash’. The hash is not considered to be personal identifier information and can be shared or stored across public or private databases.

To keep the AI solutions up to par, the company utilizes GPU processing and neural-networks to process data faster than has ever been previously possible. In return, this recognition technology will help to locate missing children and other people in the sex trade by relying on superiorly quick and accurate recognition techniques.

For more information on Trust Stamp, please visit the company website by clicking here. You may also view the video below.

Are you developing a way to save lives with AI? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services to the state of Georgia. We manage all facets of the R&D tax credit program in Georgia, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Going, going, gone: Georgia Tech funds Synapse, an all-natural energy drink startup

energy

If you’re looking for an energy drink alternative with no caffeine and made with all-natural ingredients, then look no further. Thanks to the CREATE-X program at Georgia Tech, Synapse, an energy drink that relies on nootropics for its energy boosting effects, was able to take off. According to the Synapse website, “[Synapse] is a finely crafted, fast-acting supplement designed to deliver exceptional memory function, increased focus, and improved mental clarity while providing the body with a physical energy boost that doesn’t sacrifice health or performance.”

To give consumers that well-needed boost of afternoon energy, the drink encompases the Krebs cycle, meaning the process by which cells generate energy. To go in-depth, the drink has molecules called acetylcholine in it. These molecules are responsible for maintaining attention and focus, as well as for forming new memories and learning processes. Synapse uses ingredients that work together to increase acetylcholine levels, which is also combined with its proprietary support matrix. In return, the drink primes your brain for attentive, focused work and faster learning.

“The differentiating factor between us and other nootropics companies is that none of our ingredients, including the nootropics and flavors, are synthetic,” said Daniel Porada, one of the creators of Synapse. “All of our ingredients are well-researched and studied for their cognitive and physical effects,” the company website said. The energy drink also promises to contain no high fructose corn syrup, artificial colors/sweeteners or caffeine—quite a feat when compared to what already exists on the energy drink market. Some featured natural ingredients include: huperzia serrata (moss), bacopa monnieri (herb), alpha-GPC (compound found in the brain), agave nectar (natural sweetener), citrulline malate (amino acid), creatine (organic acid), acetyl L-carnitine (nutrient, natural energy producer), alpha lipoic acid (antioxidant), schisandra (berry) and L-theanine (compound). Details about the ingredients used in the supplement can be found by clicking here.

The Synapse company hopes to give university students and Millennials a healthy, energy producing alternative to what already exists on store shelves.

Are you improving a food or beverage product? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services to the state of Georgia. We manage all facets of the R&D tax credit program in Georgia, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Take the Comforts of Home With You: Atlanta-based startup Koridor personalizes your hotel accommodations

hotel

It is important to be comfortable when away from home, especially on a well-deserved vacation. Traditionally, there aren’t many personalized options available when booking a hotel room. That is all about to change, thanks to Koridor, an Atlanta-based startup that wants to empower guests through its MyRoom platform.

By combining consumer behavior principles, innovative merchandising techniques, and valuable analytics, MyRoom helps consumers to have more control over their room choices. “For many years, the hotel industry lagged other elements of the travel experience when it comes to offering a mechanism to select a specific unit of inventory. With the MyRoom platform, the hotel industry finally leads the travel industry by offering guests an immersive, engaging experience that enables a much higher degree of personalization,” said Koridor CEO, Larry Hall.

“So when a guest is browsing a hotel, they can see a virtual tour of that room, they can see three dimensional imagery, they can see 360-degree views of the room or well-done still shots,” Hall continued. The software also provides guests with floor plans, available upgrades and window views. MyRoom is so specific, it allows a user to pick proximity to elevators and ice machines. Depending on the hotel, the software also has the option to include specific amenities, such as fireplaces, oversized closets, or a double-size sink in the room.

MyRoom is a first-of-its-kind software platform that was formed by seasoned entrepreneurs with deep industry expertise in hospitality and technology. To create such personalized experiences, Koridor works with hotel clients and manages the process of capturing digital assets and will swiftly configure the platform to highlight the personal qualities of each hotel. Analytics are then hauled into the mix, which can track consumer behavior, patterns and preferences, thus generating information that is used to tailor a guest’s experience, which in return increases revenue.

Are you developing software to improve the hospitality industry? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services to the state of Georgia. We manage all facets of the R&D tax credit program in Georgia, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

“Alexa, schedule a video call with Dr. Smith”: Austin-based startup Medici advances telehealth

telehealth

Doctor visits are a pain, and not because of that irritating chest infection or scorching fever. Wait times in the U.S. have increased 30 percent over the past four years, and that percentage is likely to rise over time, according to an article by Medscape. There is good news, though. Medici, a telehealth startup based in Austin, Texas, wants to make your doctor visits more efficient and less stressful by way of your mobile device.

Apart from doctors being overloaded, “they are buried with regulatory requirements, administrative hurdles and downward pressure on their own costs to run their practices. This burden is increasingly taking time away from doctors’ ability to focus on what really matters: providing great care for patients,” a statement from the Medici website said. “We are driven by a singular purpose. To change the doctor-patient relationship. The world is changing and healthcare must come along, too.”

The Medici application, referred to as the “WhatsApp of healthcare”, combines five principles: speed, harmony, ambition, resourcefulness and excellence. The app allows patients to contact doctors, be it physicians, dentists, therapists, even veterinarians, via text message or video call; all from a single platform. A diagnosis can be made over the app, which in return can reduce the number of patients in the waiting room. Patients can ask their doctors to join the app, or doctors can invite their patients to use it. For more context, check out the video below.

“Patients also face a growing burden, carrying more of their own healthcare costs and spending an average of 121 minutes on each medical visit they have,” the Medici website continued. “Our goal is to make global, innovative technology that will transform and truly inspire the world of healthcare.”

Are you developing new technologies to improve healthcare? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services to the state of Texas. We manage all facets of the R&D tax credit program in Texas, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.