Accounts Receivable Outsourcing and Billing

Accounts Receivable Outsourcing

Comprehensive automated billing, cash application and collections management.

Working capital is the lifeblood of a company, but it is still largely tracked via hand-processed billing, cash application and collections management functions. 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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(310) 322-2758

“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.

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.

Cash Application can be quite complex and customers often forget to provide important remittance information. IQ BackOffice applies the cash and can either contact the customer for the missing information or route it within our Archimedes platform to someone at our client to provide the info. All payments and backup are securely stored within our Archimedes platform.

Contact us today to discuss improving your business with Accounts Receivable Outsourcing Processes provided by IQ BackOffice.

The Companies We Keep

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IQ BackOffice - Hair Cuttery Testimonial video
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IQ BackOffice partnered with Hair Cuttery in their acquisition of one of the largest chains of hair salons in the country with over 500 stores. IQ designed and implemented an entire state-of-the-art back office infrastructure in 30 days including a new accounting system, EDI systems, payroll platforms for over 7,000 employees as well as all of the associated business processes and reporting. IQ saved Hair Cuttery over 80%, while providing best practice financial business processes and technology and excellent quality and services.

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We can't brag on the support we have received from IQ Backoffice enough. - I can't imagine having to go back to a paper-based workflow now that we've had this electronic approval process. Our IQ Backoffice Support Team is always responsive to our requests. We don't tell them enough how much we appreciate the support they give us. We find their value for the cost of the services is far above average and would recommend IQ BackOffice. What we value most about IQ BackOffice's services is the Archimedes workflow, accuracy and service quality, accessibility to staff, and scalability.
Magnolia Regional Medical Center
Haven CaldwellAnalytical Director of Finance
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
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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Process Automation solutions - Accounts Payable Workflow David Schnitt, CEO
IQ’s Financial Business Process Outsourcing solutions leverage your existing infrastructure with state-of-the-art automation to increase efficiency and quality with real-time information and up to 70% cost reduction.
David SchnittCEO, IQ BackOffice
IQ BackOffice reengineers financial processes to take advantage of best practices and leverage state-of-the-art automation. This allows us to deliver to our clients improved controls and up to 70% cost savings.
David SchnittCEO, IQ BackOffice
Most financial process automation initiatives do not have a positive ROI; IQ BackOffice knows how to fully take advantage of automation to increase efficiency and achieve up to 70% cost savings.
David SchnittCEO, IQ BackOffice
Financial process improvement isn’t easy; IQ BackOffice helps clients develop best practice processes to achieve best-in-class efficiency.
David SchnittCEO, IQ BackOffice
Is your cost of finance and accounting less than 0.5% of revenue? If not, your F&A performance is not world-class. IQ BackOffice can help you get there.
David SchnittCEO, IQ BackOffice
Top public and private equity-backed companies choose IQ BackOffice to implement and manage world-class financial processes to benefit from best-in-class accounting, visibility and internal controls.
David SchnittCEO, IQ BackOffice
IQ BackOffice has helped many large manufacturing and distribution clients reduce their Accounts Payable matching exception rates from over 50% to less than 10%.
David SchnittCEO, IQ BackOffice
Working with IQ BackOffice drives lower costs, better decision-making and stronger financial controls for our clients.
David SchnittCEO, IQ BackOffice
Expectations today are that finance and accounting should be real-time, automated and in the cloud. IQ BackOffice will minimize your risks and accelerate your digital transformation while reducing your costs.
David SchnittCEO, IQ BackOffice
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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.

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Let's talk!

We would like to hear from you! If you have a question or comment about our Business Process Outsourcing services, or you’d like an IQ BackOffice representative to contact you, please use the form below. We’ll also send you a link to our Corporate Brochure.