Interview with Laurence Sotsky, Incentify's Visionary Founder and CEO

Interview with Laurence Sotsky, Incentify's Visionary Founder and CEO

Incentify: Revolutionizing Tax Credit and Incentive Management

Laurence Sotsky, the CEO of Incentify, steers all business and technical operations at the software company. Sotsky's extended experience in technology leadership, particularly in the SaaS application sector, positions him perfectly for this role. Prior to Incentify, he served as the CEO and founder of Hopscotch, a venture-backed SaaS platform specializing in sports and entertainment mobile application development.

Incentify is a cutting-edge software solution designed to assist organizations in managing and optimizing their tax credits and incentives (C&I) efficaciously. The platform offers a range of tools for identifying, tracking, and maximizing federal, state, and local incentives, including those related to hiring, capital investments, and sustainability. The platform integrates seamlessly with enterprise systems, streamlining compliance and reporting processes, and helping businesses uncover missed opportunities and drive tangible financial impacts.

Unlocking Tax Credits and Incentive Management with Incentify

Incentify stands as the pioneering software platform for discovering, optimizing, and managing tax credits and incentives (C&I). Powered by AI, Incentify enables corporations, advisors, and accounting firms to fully actualize the potential of their incentive portfolios without being overwhelmed by intricacy. Whether identifying credits, managing compliance workflows, or expanding across multiple locations, Incentify simplifies what was once a manual and opaque process into an automated and data-driven advantage.

According to White House estimates, more than $140 billion in federal tax incentives remain unclaimed each year, with many additional missed opportunities at the state and local levels. This widespread issue arises due to a lack of systems and expertise among organizations to navigate the evolving C&I landscape. Industries such as film, semiconductors, manufacturing, logistics, professional services, healthcare, and tech, among others, can particularly benefit from Incentify's platform.

Complexities of Tax Credit and Incentive Management Eliminated

Managing tax credits and incentives isn't arbitrary; they are earned through rigorous compliance. Once a credit is recognized, companies must satisfy ongoing documentation, employment, and capital requirements to qualify. Manual management of this process is risky and resource-intensive. Incentify offers automated workflows that streamline processes by assigning responsible parties, preloading program requirements, and monitoring progress, alerting organizations to gaps before they develop into compliance failures.

Incentify boosts its AI capabilities to discover and manage incentives more efficiently than traditional methods. The platform houses a private large language model, trained specifically on the tax incentive corpus, which spans federal, state, and soon municipal levels. Features like "Chat With a Program" and "Leia," an embedded AI assistant, empower users to converse directly with incentive programs, receive immediate guidance, and explore options conversationally. The AI also powers automatic recommendations customized to company size, industry, and geography, replacing conventional methods with intelligent automation.

CFOs are increasingly turning to tax credits and incentives as a source of capital, particularly non-dilutive capital that can fund essential initiatives without incurring debt or forfeiting equity. The expanding incentive landscape, particularly in sectors like clean energy, R&D, and workforce development, directly aligns with corporate priorities. Technology like Incentify is now making the identification and management of these programs efficient, scalable, and transparent. This shift is about unlocking unused capital for growth, not exploiting tax loopholes.

Incentify's Optimize product features integrated compliance safeguards designed to reduce risk from audits, misfilings, or clawbacks. When an incentive is loaded into the platform, key compliance events are mapped out, and appropriate stakeholders are identified. Missing components, such as unsigned forms or unmet requirements, are automatically flagged for managers. The platform boosts success rates on incentive compliance from 40% to 100% for business units that adopt Incentify.

Recently, Incentify raised $9.5 million in Series A funding. This capital will be used to fuel growth across five primary areas: product innovation, technical velocity, sales and marketing efforts, data expansion, and partnership development. The team is focused on making incentive management effortless and accessible to all businesses, regardless of size or industry. Incentify's long-term vision is to become the operating system of the C&I economy, where every player can collaborate, track, and deliver incentives through a single, interconnected platform.

1. In the realm of business and finance, Incentify's AI-powered platform is revolutionizing tax credit and incentive management, helping corporations and advisors unlock previously unclaimed federal, state, and local tax incentives worth over $140 billion annually.
2. As technology advances, CFOs are turning to innovative solutions like Incentify to help navigate the complex landscape of tax credits and incentives, particularly in sectors like clean energy, R&D, and workforce development, ensuring compliance and driving financial growth without exploiting loopholes.

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