Accounts Payable Outsourcing – PPC AR

Accounts Receivable Automation and Outsourcing

Comprehensive billing, cash application and soft collections management.

Working capital is the lifeblood of a company, but it is still largely tracked via inefficient and manually-intensive billing, cash application and soft collections management activities. IQ BackOffice is ready to move you forward with web-based workflows and accounts receivable processing that can cut your costs in half while providing real-time insight into your accounts receivable and cash flow.

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    “For one of the largest automobile repossession companies in the USA, we designed an automated cash application process that managed and applied checks with often over 20 remittance advices. Cash was posted within one day more than 90% of the time and exceptions were managed within our Archimedes software for paid resolution.”

    Improve Your Business by Outsourcing your Accounts Receivable Processes with IQ BackOffice

    We start with a top-to-bottom review of your processes, reengineering them to SSAE 18 SOC Type II standards. Then we deploy your updated procedures into our proprietary Archimedes workflow software. Archimedes ensures that we apply your business rules rigorously and lets you drill down into any bill or payment to review its status. As needed, we can reach out to overdue accounts with reminder calls and emails, based on your business rules.

    By integrating your existing accounts receivable functions, reducing processing costs and providing detailed reporting at every step, IQ BackOffice will ensure you have the tools and data you need for real-time decision support.

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    Billing processes are often highly customized by client, yet IQ BackOffice is able to reengineer and automate billing, even if it is largely manual.

    For a major supplier to the entertainment industry, we were able to devise a process that took the work orders from the operations team and seamlessly generate invoices accurately to their customers daily, even though the invoices had thousands of possible permutations. All invoices and backup are securely stored within our Archimedes platform.

    IQ BackOffice applies the cash based upon the client’s customized business rules. For example based upon the issue, staff can research relevant bills, contact the customer for the missing information, or route it within our Archimedes platform to the appropriate client designee that can provide the info. All payments and backup are securely stored within our Archimedes platform.
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    The Companies We Keep
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    IQ BackOffice is an amazing partner to Opendoor Labs. We receive large quantities of paper invoices from Utilities and Home Owners Associations with critical short turnaround timelines and IQ’s accurate and rapid processing is critical to our ability to pay our bills on time. Valuable Bay Area resources no longer had to spend time dealing with paper and now can just leverage the useful spend metrics we have at our fingertips to perform the strategic high-value tasks they were hired to do.
    Christy Schwartz
    Christy SchwartzVP Corporate Controller at Opendoor
    IQ BackOffice helped give us better control and transparency to help us manage our business while significantly cutting our costs. They have exceeded our expectations and positioned us to scale for growth.
    Mark Backstrom
    Mark BackstromVice President, Interdent
    When I first started working with IQ more than 10 years ago, I was a little worried how this would all work. However, these worries disappeared as soon as I started using their portal which helped us to go completely paperless. Besides being paperless, IQ’s portal has significantly increased the visibility as it takes just a few clicks to digitally view the invoices. In addition, IQ has brought more consistency in the procedures and really helped us to scale these functions without adding more in-house headcount and office space.
    Chad Shin, Financial ProfessionalCPA, MBA
    We sought to outsource in order to reduce costs and automate our processes. IQ's team provides us with a huge cost savings. We love the procedures and rigorous controls that go above standard accounting controls. We also love the additional accounting oversight of our dedicated IQ team.
    Andy Pfertner
    Andy PfertnerController, Just Answer
    IQ BackOffice is the most valuable vendor partner that I have onboarded at both my present and previous companies. The value of the soft cost benefits we achieved by working with IQ outweigh the significant hard cost savings achieved such as increased transparency and visibility, stronger compliance, easy accessibility to historical transactions and information, and reduced workforce frustration. We are regularly discovering additional back office processes that can be more efficiently and cost effectively handled by IQ.
    Todd Slayton
    Todd SlaytonSVP, Corporate Finance & Controller, Beachbody LLC
    IQ BackOffice's Archimedes solution provides us with centralized approval workflows and visibility across activity at Mina Group restaurants all over the US. And their Streamlinea solution for centralized web-based disbursements is amazing. We love that everything is paperless. Working with IQ allows me to remove myself from the day to day processing and focus on analytical work which allows me to add more value to the organization. On top of that, IQ is very professional and easy to work with. Starting during the sales process and as a client they take a very consultative approach really considering what your organization needs.
    Frank Bruno
    Frank BrunoTransformational Accounting Manager at Mina Group
    Working with IQ BackOffice has enabled us to scale our Accounts Payable function in line with our company's exponential growth. When we doubled in size in a short period of time IQ seamlessly scaled processing in line with our business needs. IQ’s business rules based automation complemented our technology platforms painlessly. IQ gave us a scalable process that allowed us to flex up in times of growth and flex down when we needed them to on top of enabled technology-driven efficiencies. When the COVID-19 pandemic hit, IQ Backoffice had robust business continuity plans that enabled them to remain a dependable partner during the crisis.
    Christy Schwartz
    Christy SchwartzVP Corporate Controller at Opendoor
    Even though many IQ team members may be located in a different country, the communication has been seamless. IQ also has an amazing group of U.S. based account reps who take care of our needs. During the Pandemic lockdown, the transition from the office setting to working from home did not take much effort on our end because these functions has been already running remotely. I highly recommend IQ for any businesses that are multi-entities/locations and/or are looking to grow their business because IQ will bring more visibility, efficiency, consistency, while still allowing you to be more cost-effective.
    Chad Shin, Financial ProfessionalCPA, MBA
    We needed automation and workflow and Archimedes provides audit trails, visibility and controls. We were also interested in upgrading our ERP. IQ assisted us with our software selection and, as a Sage Intacct Accounting Partner, has an in-house support team to assist us with the system including supporting integration with our other systems and writing custom reports.
    Andy Pfertner
    Andy PfertnerController, Just Answer
    Since 2011, IQ has been the best service we have ever discovered!!! Acting as a AP Department for us, we have never had an issue in getting all of our MILLION Invoices paid. With the approval process and checks and balances that IQ provides, on top of the quick turnaround response, it is like having an AP Department within your office! If you are a small company or a Billion Dollar Company as ours, IQ makes the AP process easy and seamless.
    Mike Petrovitch
    Mike PetrovitchProcurement and Admin Manager, The Orchard/Sony Music
    After our payroll manager left, we decided it would be best to hire a professional firm to handle our payroll instead of trying to find and keep a competent payroll staff. We have been very happy with the service provided by IQ BackOffice.
    Jim Boltinghouse
    Jim BoltinghouseController, Sweetener Products
    IQ provides an excellent balance between leveraging technology and people to efficiently and effectively achieve our goals. Many companies try to acquire technology to simply automate an already weak process. IQ BackOffice makes your rethink everything so that you automate new, best practice processes which then flow through to benefit all aspects of the business. They are genuinely nice people and we have had incredible continuity in the team which is rare for service providers. They are not owned by a giant multinational and the attention paid to clients and the flexibility in of their solutions really shows that.
    Todd Slayton
    Todd SlaytonSVP, Corporate Finance & Controller, Beachbody LLC
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    David Schnitt, CEO

    Integrated solutions reduce errors and increase efficiency. IQ BackOffice delivers complete solutions that work with your back office infrastructure and reports.

    David Schnitt, CEO, IQ BackOffice

    IQ BackOffice works with leading global companies which include the world’s largest steel manufacturer, the largest technology and entertainment conglomerate, large retailers and restaurant chains across thousands of stores and e-commerce sites. Other major clients include distribution, energy, healthcare, real estate, and financial services companies.