Blockchain technology for economic development incentives
BIGcontrols is a business intelligence & lifecycle management solution for corporate tax & financial incentives. Built as an enterprise platform it automates regulatory compliance while providing real time, actionable intelligence for finance leaders to leverage their government incentives & increase competitive advantage.
Over $50B from all government incentives is lost annually, just in the U.S. There?s a lack of internal controls around the management of government incentives and no software tools for finance leaders to gain insights - this leads to massive compliance risk exposure across corporate environments.
If CFOs losing billions of dollars doesn't get your attention, this will - the FASB (Financial Accounting Standards Board) will issue a pronouncement in Q1 2019 that creates new disclosure requirements for government incentives. Currently, corporations do not have the technology systems or internal controls to track & report these disclosures.