At Shredy, our mission is simple but bold: to make the Scientific Research and Experimental Development (SR&ED) claim process super easy for companies that qualify. While the SR&ED program offers significant tax incentives for businesses engaged in innovation, the process of filing can be daunting and complex. That’s where Shredy steps in. By breaking down the intricate steps of SR&ED filing into manageable, automated processes, we aim to empower businesses to secure the credits they deserve with minimal effort.

Our Approach to Tackling SR&ED Complexity

Filing an SR&ED claim isn’t just about filling out forms; it involves a deep understanding of technical reports, project management, financial details, and regulatory compliance. At Shredy, we address these complexities head-on by focusing on five key areas that streamline the entire SR&ED process:

1. Technical Reports (Current Focus)

The cornerstone of any SR&ED claim is the technical report, which outlines the innovation, challenges, and advancements of a project. Shredy’s current focus is on automating and simplifying the generation of these reports. By using AI-powered tools, we enable businesses to generate precise, compliant, and well-structured technical reports with ease. This automation helps reduce the time and expertise required to create these reports, allowing businesses to focus on what matters most—innovation.

2. Project Tracking

SR&ED claims often span multiple projects and years, making it crucial to track the progress, milestones, and technical challenges of each initiative. Our future development efforts at Shredy will integrate project tracking into the SR&ED filing process. By providing real-time updates on project developments, we’ll make it easier to compile the necessary information for each claim. Our platform will help businesses stay organized, ensuring that no critical detail is missed.

3. Financials

Beyond the technical aspects, SR&ED claims require a thorough accounting of financial expenditures related to R&D activities. This involves tracking costs for wages, materials, subcontractors, and overheads. Shredy plans to offer seamless integration with financial tools, allowing businesses to automatically pull in relevant financial data. This will help streamline the process of calculating eligible SR&ED expenses and ensure accuracy in the claim submission.

4. Connecting to CanTax

Filing an SR&ED claim isn’t just about the technical report—it’s about navigating tax systems, such as CanTax. By building a direct integration with CanTax, Shredy aims to make the final submission of SR&ED claims as straightforward as possible. Our platform will allow users to securely transfer their claim data into the relevant tax systems without needing to manually input information, minimizing errors and saving time.

5. Audit Handling

One of the most stressful aspects of the SR&ED process is dealing with audits. The Canada Revenue Agency (CRA) can request detailed documentation and justification of claims, and an unprepared company may find itself in a tough spot. Shredy’s long-term vision includes an audit-handling feature that helps businesses manage SR&ED audits with confidence. Our platform will generate clear, accessible audit trails and supporting documentation, reducing the burden on companies and increasing the likelihood of a successful audit outcome.

The Road Ahead for Shredy

Shredy’s masterplan is ambitious, but it’s rooted in the real needs of businesses looking to claim their rightful SR&ED credits. By addressing each layer of the SR&ED process—from technical reports to financials and audits—we aim to become the go-to platform for companies navigating this often-complicated system. As we expand our offerings, we remain committed to keeping the process as streamlined and user-friendly as possible.

Empowering Innovation, One Claim at a Time

Our mission at Shredy is to remove the barriers to filing SR&ED claims, so businesses can focus on what they do best: innovating. With our automated tools, integrations, and audit-ready documentation, we’re on track to revolutionize how companies approach SR&ED filing. The future is about making SR&ED accessible to all companies that qualify—so they can leverage government incentives to fuel growth and innovation.

;tldr

Shredy’s masterplan revolves around simplifying the SR&ED process by tackling its core complexities:

Automating technical report generation
Tracking project progress and milestones
Integrating financials for accurate claim submissions
Connecting directly to CanTax for seamless tax filing
Handling audits with clear, organized documentation

By following this roadmap, Shredy aims to make SR&ED filings easier, faster, and more accessible to businesses of all sizes.

Shredy’s Masterplan: Simplifying SR&ED for Every Qualifying Company