Outsourcing allows businesses to optimize operations, reduce costs, and access specialized expertise without the need for in-house resources. From finance and accounting to IT and customer service, third-party solutions provide scalability and efficiency while enabling companies to focus on core competencies. Stay informed on best practices, emerging trends, and strategic insights to make the most of your partnerships.
Building a network of partners works best when you treat external services as a natural extension of your own team. This shift moves you away from simple transactions and creates the "elastic" capacity needed to scale without the usual growing pains.
By dismantling these seven myths, leadership can move past the hesitation of the "old world" and build a finance function that is truly fit for the future.
Future-proofing your Accounts Payable, simply put, is upgrading your tools. For companies with a manual legacy, the leap to AI doesn't have to be a solo journey.
This article explores the defining trends of 2026, the drivers behind this explosive growth, and the critical insights every CFO needs to stay ahead.
The coming years will be defined by a decisive shift away from legacy operating models toward agile, digitally-integrated frameworks. Organizations that hesitate or pursue piecemeal changes risk being permanently relegated to the periphery.
Simply put, slow Accounts Receivable (AR) is more than a collections problem; it is the primary barrier preventing us from generating our own working capital.
This article explores the unique, challenging reality of accounting in manufacturing, highlights its most common operational chokepoints, and outlines the strategic moves needed to address them.
Introduction From an accounting outsourcing firm POV, I’ve seen firsthand how a seemingly minor glitch in the Accounts Payable (AP) process can cascade into significant financial headaches. AP is the…
This article examines how AI is shaping outsourced accounting today, drawing on trends and examples noted by industry observers.
Introduction You made the strategic decision to outsource your accounting—a move driven by the need for improvement, whether that was cutting costs, gaining expertise, or freeing up your internal team.…
In a pivotal conversation for the accounting profession, David Schnitt, President and CEO of IQ BackOffice, recently joined host Kalil Merhib on the Digital CPA Podcast to offer a strategic blueprint for solving the industry’s twin challenges: persistent talent shortages and the rise of artificial intelligence.
Modern AP practices enable a level of financial agility that was once unimaginable. They position the finance team as a strategic partner to the business, ready to capitalize on opportunities and mitigate risks in real time.
For decades, the robust in-house accounting department represented the gold standard of financial operations. But, today, that model is showing significant strain. Finance leaders are witnessing how talent scarcity and escalating personnel costs create operational vulnerabilities, precisely when financial leadership is most critical.
IQ BackOffice is proud to announce its recognition as an industry leader in the highly regarded OA500 and Global Outsourcing Firm (BPO) Index for 2025.
David Schnitt, President and CEO of IQ Backoffice, a leading finance and accounting outsourcing and staff augmentation firm, recently appeared on the "Inspired Stories" podcast with host Anthony Codispoti.
IQ BackOffice, a leading provider of accounting outsourcing and offshoring services, is pleased to announce the return of Youni Kim as Chief Growth Officer, effective January 29, 2025.
The Digital CPA Conference provided a valuable platform for accounting professionals and partners to learn about the growing trend of leveraging offshore teams to enhance efficiency and expand capacity.
Finance Officers and business owners understand the importance of efficient financial operations. One area that often presents challenges is invoice processing.
The world of restaurants thrives on speed and efficiency. Yet, many restaurants struggle with lengthy month-end closings, leaving them waiting weeks for crucial financial data.
David Schnitt, President and CEO of IQ BackOffice, is featured in a two-part episode of Outsourcing Fit’s Beyond Borders Podcast.
By embracing AI as a strategic tool and fostering a collaborative environment, accounting outsourcing firms can empower businesses to achieve long-term financial success and navigate the complexities of modern finance with greater confidence.
Proactive accounts payable management is the way to achieve financial efficiency. By diligently addressing errors upfront, you prevent a domino effect of wasted time, resources, and potential cash flow disruptions.
By diligently tracking key metrics, coupled with a culture of continuous improvement fueled by open communication, employee development, and an embrace of innovation, accounting outsourcing companies can gain a competitive edge.
Accounts Payable often gets relegated to the background, viewed as a purely transactional function. However, neglecting best practices in this seemingly mundane area can have a ripple effect, impacting cash flow, supplier relationships, and even your reputation.
As companies navigate the ever-changing landscape of business operations, the strategic implementation of automation emerges as a key driver of success.
With automation as a partner, you can transform your accounting department from a drudgery den into a data-driven powerhouse, freeing you to unleash your inner financial wizard.
When making this critical decision, it's essential to understand that accounting goes beyond just balancing books—it's about steering the business toward long-term growth and financial success.
As businesses navigate the complexities of payment schedules, adopting advanced Accounts Payable Solutions emerges as a beacon of hope. Automation, efficient workflows, and strategic management practices not only overcome challenges but also pave the way for a more resilient and optimized financial future, fostering stability, growth, and positive partnerships within the business ecosystem.
Understanding the fundamentals of Accounts Payable is paramount for navigating the intricate terrain of corporate finance.
While manual accounting systems have a place in history and may work for small businesses with limited transactions, they present a host of challenges that modern growing companies today with large volume transactions can no longer afford.
Leveraging outsourced accounting services is not merely a step in the right direction; it's a dynamic strategy that propels businesses into a future of boundless possibilities.
The future of accounting outsourcing is poised for creativity and growth. It's not just about adapting; it's about thriving in a time of potential.
Outsourced Accounting services present a transformative approach not just to your department’s efficiency but your business as a whole.
In this article, we will explore the unique and creative gains specifically from Outsourced Accounting that may help you unlock new levels of progress.
As the digital world expands, the ability to safeguard sensitive information across borders will become a hallmark of successful outsourcing relationships, ushering in an era where data security is not just a requirement, but a strategic imperative for long-term success.
By embracing technology and aligning it with strategic outsourcing partnerships, businesses have a competitive advantage in their operations.
Outsourcing your accounting processes can streamline workflows and address other challenges easily managed by modifying existing systems.
As the business landscape continues to evolve and face new challenges, outsourcing accounting functions, among other solutions, may be a key pillar in achieving long-term success.
One of the most significant accounting trends is the widespread adoption of cloud-based accounting systems.
Finding the right company to partner with is an important process and must not be taken lightly.
This article delves into the key industries that reap the rewards of outsourcing accounting functions.
This article aims to provide a comprehensive comparison between accounts payable outsourcing and in-house management, analyzing key factors such as cost, efficiency, expertise, data security, and the availability of accounting talent.
Organizations are looking for ways to optimize operations while minimizing costs. One way is accounting business process outsourcing (BPO).
The Finance as a Service Outsourcing model provides businesses with many advantages and is becoming increasingly popular in an expensive and ever-shrinking talent pool.
How do you know when it's the right time to consider outsourcing your financial operations? In this article, we'll explore the signs that indicate outsourcing may be the right choice for your business.
Outsourcing has become a popular strategy for businesses looking to improve efficiency, and the accounting department is no exception.
Business Process Outsourcing (BPO) is a type of outsourcing involving contracting out a business' non-core functions to a third-party provider.
With the steady reinvigoration of the economy, outsourcing accounting services is growing and proving to be a popular business solution.
We explore the top 10 trends in AP outsourcing and what they mean for businesses looking to improve their Accounts Payable processes.
A look at the TOP FIVE Post-Pandemic Payment Best Practices in processing requirements of an effective online payment program.
Invoicing, billing, and collections are critical components of any successful business. They help you manage your finances, ensure you receive payment for your services, and maintain positive customer relationships. However, these processes can also be time-consuming and prone to errors if not managed properly. Here are ten tips to help you improve your invoicing, billing, and collections processes and streamline your financial operations.
While outsourced accounting can be an effective solution for many companies, we look at the many misconceptions surrounding this practice.
The reasons businesses outsource accounts receivable include cost savings, increased efficiency and access to specialized expertise.
Business Process as a Service (BPaaS) is a model that involves outsourcing specific business processes to a third-party provider.
In this article, we’ll look at the best selection of key performance indicators to monitor in order to properly benchmark and optimize your Accounts Payable department.
In this article, we’ll explain what Accounts Payable involves, and look at the challenges and risks associated with it.
IQ BackOffice partnered with Hair Cuttery in their acquisition of one of the largest chains of hair salons in the country.
IQ BackOffice, the leader in financial process automation and outsourcing utilizes cloud-based technology to keep processes steady
To decide between AP automation or AP outsourcing for your company, it is best to define your goals. In this article, we take a closer look.
Labor costs cause AP Automation to almost always have a negative ROI. Automation for the sake of automation rarely, if ever, yields results.
There's no one-size-fits-all answer to risks in accounts payable, but one of these can help you reduce risk, avoid financial consequences.
IQ BackOffice, the leader in financial process automation and outsourcing utilizes cloud-based technology to keep processes steady
Ken Johnson, SVP at IQ BackOffice, discusses mistakes he sees accounting departments make when outsourcing AP, and how doing it correctly leaves you with a leaner organization that can focus less on administrative work and more on growing the business.
Companies that outsource payroll can reduce compliance time and costs, reduce risks, improve employee data security, and can focus on their core business.
Restaurant owners need to carefully look at the third-party services and pick the one that best suits their restaurant and can deliver the most significant volume of daily orders. And they should consider innovative and collaborative accounting providers, such as IQ BackOffice, to partner with them.
Ken Johnson, IQ BackOffice, discusses mistakes he sees accounting departments make when outsourcing accounting functions to execute their strategic plan.
Companies often choose to transfer recurring operational activities to an outside supplier with better technology, business processes, and lower costs to improve outcomes and maximize profits while minimizing risks.
AP Automation by itself, can lead to negative ROIs. The solution is to outsource the process to a reputable service provider like IQ BackOffice.
AP Invoice Processing clerks have been benchmarked for decades. The common figure is that an AP clerk processes about 1,000 invoices per month.
Managed payroll is outsourcing the responsibility of managing in-house payroll to a third-party managed services provider like IQ BackOffice.
Outsourcing Accounts Payable with a reputable third-party company like IQ BackOffice has many benefits. There is also one important drawback to consider as well.
Business Process Outsourcing (or BPO) is simply hiring another company to perform a specific function instead of doing it yourself.
AP automation vendors charge based on the number of system users and/or a fee per invoice - somewhere between $1.25 and $2.00 per invoice.
In this article, we take a look at Accounts Payable Automation, its components, how it is implemented, and the drawbacks as a stand-alone solution.
Companies turn to outsourcing for better technology, business processes, and lower costs to improve outcomes and maximize profits while minimizing risks.
Outsourcing accounting is generally worthwhile especially for businesses whose core-competencies fall outside of the financial and accounting disciplines.
Because accounting duties include many low-value transaction-laden activities, outsourcing and automation are viable alternatives to keeping them in-house.
Outsourced accounting costs are generally lower than the cost of having the accounting function operate in-house, generally between 30-75% of current costs.
Outsourcing accounting processes, for example, generally saves between 30% and 75% of current costs, while improving quality and timeliness.
Running payroll for your own business is something that can only be done successfully with a sufficient understanding of current payroll and taxation laws.
A streamlined Accounts Payable workflow is essential for managing the consistency, accuracy and efficiency of each step in the process from start to finish.
An efficient accounts payable process is critical to optimize working capital and measure operational efficiency for sound business decisions and planning.
There will always be potential risks in every partnership, however, the goal is to select an appropriate function for outsourcing - and the right provider.
To control outsourcing, the business will have to ensure there is sufficient communication between the business, the teams, and the outsourcing provider,
In very broad terms, outsourcing challenges can typically be categorized as organizational/culture challenges or system/process related obstacles.
IQ BackOffice offers full service accounting outsourcing to restaurant and hospitality companies. Savings up to 68% - improved quality and internal controls
Imagine your accounting processes reengineered into a customized solution that offers 99.97% quality, 40-50% cost reduction, close on financials to 3 days.
According to Debi Warren, CPA, CGMA, “adding bookkeeping and accounting resources can increase firm revenue and provide your clients with more options.” Accounting outsourcing, she writes, enables firms to offer a greater variety, and level, of expertise at a lower cost.
According to Debi Warren, CPA, CGMA, “adding bookkeeping and accounting resources can increase firm revenue and provide your clients with more options.” Accounting outsourcing, she writes, enables firms to offer a greater variety, and level, of expertise at a lower cost.
Given how little time leaders of growing companies have, the thought of senior resources spending many working weeks each year just on their finances has many weighing the Pros and Cons of Outsourcing their accounting work.
IQ BackOffice Financial Benchmarking allows restaurant operators to save money, make better real-time decisions and have stronger financial controls.
How can an organization solve Accounting Transaction Processing problems while assuring the highest level of efficiency and cost savings? Outsourcing!
IQ BackOffice, a leading global accounting outsourcer released its year end updates, reporting several new clients and service expansion
Restaurant operations will require the efficient management of a changing labor market, narrowing margins and growing regulatory pressures.
Restaurant industry sales are expected to hit a record high of $709.2 billion in 2015, according to the National Restaurant Association. In the first four months of 2015 alone, restaurant…
Mancha Development Company manages back office costs to improve financial functions and support continued growth. The restaurant business is getting tougher and tougher, with costs rising due to ever-increasing regu-…
It’s not news that technology continues to change the way we work. With such a heavy focus on cost efficiency, there has been an increased focus on optimization to get…
What do you think of when someone mentions supply chain? Most commonly it’s factories, sourcing and shipping. When people used to talk about supply chain, they would refer to how…
Looking to Manila as an example, I think it’s evident that understanding how countries globally are changing and growing can be necessary for development both domestically – and abroad.
We have seen new back office technologies take hold in the finance function of midsized organizations. Staying on top of this is critical for success.
EL SEGUNDO, Calif., July 17, 2015 /PRNewswire/ -- IQ BackOffice, a leading global accounting outsourcer, today released its second quarter updates, reporting several new client wins and a partnership with Cambridge Global Payments,…
To successfully juggle the many challenges of operating a restaurant, it's vital to pay closer attention to the back office.
TORONTO, ONTARIO--(Marketwired - June 11, 2015) - Cambridge Global Payments, a world leader in global payments and risk management solutions, is pleased to announce a new strategic alliance with IQ…
Many restaurant managers are playing a never-ending game of catch-up. On top of the stress of providing a quality experience and generating guest satisfaction at full-service restaurants, they’re also grappling…
One of the largest commercial office Real Estate Investment Trusts (REIT), headquartered in Arizona, had implemented an outsourced, web-based Accounts Payable (AP) imaging, Optical Character Recognition (OCR) and workflow solution…
If you’re a restaurant owner or operator, chances are you’ve been following the divisive minimum wage news coming out of Seattle last month. This debate is the proverbial canary in…
When I think back on what has shaped my career, I always come back to the teams I've worked with – the groups of people who lend their skills and…
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