Company: Joseph Studios, Atlanta, GA
Company Description: Joseph Studios is an industry-leading digital marketing agency that differentiates itself by utilizing Intelligence and Deep Insight® technologies. With its proprietary tools and collaborative approach, Joseph Studios has helped hundreds of clients connect with their audiences through authentic conversation and a holistic approach.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Finance
 Nomination Title: Boost Payment Solutions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated organization's finance achievements since the beginning of 2021, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization's history and past performance (up to 200 words):
Total 194 words used.
Headquartered in New York, Boost Payment Solutions was founded in 2009 and currently operates in 47 countries. As a leader in electronic payments, Boost optimizes how commercial cards are initiated, processed, received, and reconciled. For over 14 years, the company has evolved how businesses utilize commercial cards, opening the door to straight-through processing (STP) and cost-effective alternatives to wires, checks, and ACH. Today, over half of Fortune 100 companies send or receive payments using Boost’s payment platforms.
Boost Intercept®, Boost’s patented straight-through processing (STP) platform, provides the ideal solution to process commercial card B2B payments, eliminating manual workflows with end-to-end payment and data automation. Breaking the mold of traditional rigid credit card pricing constructs, Dynamic Boost® offers buyers and suppliers flexibility based on business rules that fit their mutual needs.
For the last three years, Boost has leveraged its existing relationships with card issuers, acquirers, and card networks to help partners in various industries overcome supply chain challenges caused by the global pandemic. By integrating commercial cards, the payments leader helped businesses across industries reduce their dependency on traditional payment methods and utilize the growing need for digital payment options, automation, and payment security.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 243 words used.
Faced with unprecedented growth in demand for digital corporate payment solutions in 2020, Boost set out to help clients transition from traditional payments to dynamic virtual cards. The COVID-19 crisis, the resulting post-pandemic supply chain issues, and overall global economic pressures have significantly impacted the commercial payments industry. Changes in how businesses operate accelerated the move to digital solutions, while the shift to remote work has highlighted the challenges with legacy payment methods that are reliant on manual processes. Boost has been a key partner for many companies, utilizing their patented payments technology to introduce end-to-end automation, reduce processing expenses, protect sensitive data, and prevent fraud. In 2021, Boost grew its total active relationships by 78%, processing payments for over 2.2 million invoices. In addition, Boost was able $22 million in Series C round funding in 2021, led by Invictus Growth Partners.
Boost has helped businesses overcome the obstacles of rigid legacy payment systems that do not allow for quick adjustments to overcome B2B payment issues. In 2021, Boost also introduced one of its most notable innovations, the Dynamic Boost® platform. This enhancement to the award-winning Boost Intercept straight-through processing platform allowed for unrivaled new levels of automation and increased flexibility for both buyers and suppliers. Additionally, the new program could provide improved reporting and insights for customers and robust data security beyond the requirements of PCI. With the help of the Dynamic Boost platform, Boost grew revenue by 41% in 2022.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 248 words used.
Boost Payment Solutions is the only FinTech acquirer focused exclusively on the B2B market, creating purpose-built solutions for B2B clients. Dynamic Boost® exemplifies this unique focus, creating functionality specifically tailored to benefit B2B transactions. The Dynamic Boost® platform gives buyers and suppliers payment flexibility based on business rules and, by extension, payment rules that fit their mutual needs.
Unlike other systems that require the use of the provider’s proprietary API, Dynamic Boost® is designed to adapt to systems that customers already have in place. Because of this, little to no development is required by Dynamic Boost® customers, drastically reducing both the cost and time required to implement the system. At its core, Dynamic Boost® is a centralized cloud-based universal translation platform. This interoperability is key to allowing companies to upgrade their legacy systems with little to no investment or infrastructure changes, helping clients future-proof their payment flows while also keeping a close eye on the bottom line.
The Dynamic Boost® engine also utilizes the “on the fly” application of rules, which can be based on payment size, payment timing, pricing constructs, or any other mission-critical metric to a buyer-supplier relationship. This empowers buyers and suppliers to negotiate commercial card usage and acceptance on their terms.
Payment solutions that offer flexible logic, hands-off data automation, and reconciliation controls in a secure environment are key to building a strong foundation for future growth. Dynamic Boost, paired with Boost Intercept STP Platform, gives businesses the power to adapt quickly and easily.
- Optional: Reference here any attachments of supporting materials throughout this nomination and explain how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 170 words used.
Boost Payment Solutions has been recognized as a leader in innovation in the world of finance many times in the past. Since 2009, Boost has bridged the gap between accounts receivable and accounts payable. From relationships with major card providers, like Visa and Mastercard, to helping those in healthcare move on from a system of payment that emphasizes check payment, Boost helps businesses prepare to meet all of their future payment processing needs.
Although Boost raises the bar through its proprietary-based financial services and partnerships, advancement is present in all areas. Boost strategically invests in its leadership. Boost thought leaders in B2B payments spaces anticipate and prepare their partners for economic and business challenges that are on the horizon.
Even in 2023, many industry sectors operate in payments “dark ages.” Boost has responded by offering efficient digital solutions that are capable of scaling on a global level. Time and time again, Boost has overcome the hurdles of traditional payments, eliminating the burdens of manual workflows and manual data entry.
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