What is IncentiLock?
Each year, companies operating in the US fail to collect $20B from government business incentive programs. An astounding fifty percent (50%) of incentive awards granted are not collected. Most companies don’t even apply for incentives, despite qualifying for the programs. Companies generally don’t collect because internal resources are limited, or the cost to outsource is outweighed by using resources for more critical tasks. Additionally, each program has a unique application process, data requirement and benefit calculation making it extremely difficult for most resource-strapped HR, payroll or tax teams to timely file and submit new applications. Knowing how or where to apply is also an issue. IncentiLock offers a cloud-based enterprise platform designed for global use. Three SaaS products are available for annual licensing to companies, consulting firms and governments for use in calculating, reporting, tracking, measuring and auditing economic development incentives. IncentiLock reduces time and costs by more than 75%. Target customers are manufacturers and multi-state companies. We take a very complex and time-consuming process and make it super simple. We’re H&R Block for incentives.
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