Best Case Scenario: Successful Implementation of Outsourced Accounting in Business
In this article, we will explore the unique and creative gains specifically from Outsourced Accounting that may help you unlock new levels of progress.
Accounting Outsourcing
Accounting Outsourcing
Automation, reduced costs, better control and more informed decisions.
IQ BackOffice offers complete accounting outsourcing services that combine top-to-bottom process reengineering and best practices with web-based workflow systems. We leverage your existing infrastructure and our seamless technology to reduce errors and lower costs while improving controls and delivering real-time insight into your business.
“When a private equity firm bought one of the largest chains of Hair Salons in the USA with over 800 locations, it asked IQ BackOffice to setup an entire accounting infrastructure including Sage Intacct and integrate it with a new POS system, develop all financial reports and metrics, and best practice business processes around AP, AR, Payroll and General Accounting. We implemented our Archimedes platform to digitize all financial transactions and then performed all of these processes to world class standards. The client saved 80% vs. the cost of the old back office while receiving more timely and accurate financials.”
Accounting Outsourcing – Reduced costs, better control and more informed decisions
IQ BackOffice offers complete accounting outsourcing services that combine best practices, top-to-bottom process reengineering with web-based workflow systems to reduce errors and lower costs while improving your controls and decision-making.
Our experienced team develops client-centric solutions that leverage your existing accounting systems rather than replacing them. Through this, we reduce implementation timeframes, risk and expense, and allow your interfaces and reports to function as they do today.
Our proprietary Archimedes software enables you to manage your accounting processes from any web-enabled device or PC, while our partnerships with electronic payment solutions providers can turn your accounting costs into real savings.
Let IQ BackOffice deliver these benefits to you through a full-service solution that includes:
- Accounts payable
- Billing and accounts receivable
- Financial statements
- Managed Payroll
- Daily deposit verification
- Cash and credit card reconciliation
- Fixed asset reporting
- Electronic payment solutions
- Secure virtual Visa card payments, with cash-back revenue options
Contact IQ BackOffice today to discuss improving your business with our Full Service Accounting Outsourcing services.
The Companies We Keep
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Accounting Outsourcing – Insights
Mitigating Risks and Ensuring Data Security in Accounting Outsourcing
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.
Understanding the Role of Technology in Accounting Outsourcing
By embracing technology and aligning it with strategic outsourcing partnerships, businesses have a competitive advantage in their operations.
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.
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.