Yes, you can do this - in the HTML editor, use the <a href="xxxxxx"> function where xxxxxx is the URL of the report you want to link to in BoIT.
Example:
<a href="https ://acme.apptio.com/#report:prd:-@ Cacme.com%253ABill+of+IT/Reports/.DateGoesHere/CostModels/Default/.View%253Atab%253ABill+of+IT">
Note that it will go through the whole login process when switching applications so this works best when SSO is enabled in your organisation.