IQ BackOffice Breaks into New Global Markets for Expansion in Q2 2015
Continued growth in the restaurant space and key partnership increases firm's global reach
Jul 17, 2015, 12:19 ET
EL SEGUNDO, Calif., July 17, 2015 /PRNewswire/ -- IQ BackOffice, a leading global accounting and human resources outsourcer, today released its second quarter updates, reporting several new client wins and a partnership with Cambridge Global Payments, a provider of global payments and currency risk management solutions.
With a continued focus on the restaurant industry, IQ BackOffice is expanding globally in accounts payable outsourcing and broader full service accounting outsourcing solutions. As part of expanding its global footprint, IQ BackOffice welcomed Global Restaurant Concepts Incorporated (GRCI), a Philippines-based manager of restaurants in the Philippines for brands including P.F. Chang's, California Pizza Kitchen, IHOP, Morelli's Gelato, Gyu-Kaku and Mad for Garlic.
IQ BackOffice will work closely with GRCI to implement IQ BackOffice's best practice business processes and technology to provide real-time visibility into every facet of GRCI's business. This will allow GRCI management to spend more time on value-added activities instead of time spent on processing transactions and accounting. Upon implementation, GRCI will realize a number of benefits from faster closing of their books, improved financial reporting and analysis, substantially reduced accounting costs and more.
"Launching with Global Restaurant Concepts is an exciting step to expand our firm's business in the Philippines and affirms our ability to offer clients a greater suite of full service accounting outsourcing solutions in foreign markets," said David Schnitt, President and CEO of IQ BackOffice. "In our work with Global Restaurant Concepts, we will collaborate with them to improve process quality, consistency and timeliness across the GRCI enterprise."
Enhancing its all-inclusive, global and seamless end-to-end solution, IQ BackOffice strategically partnered with Cambridge Global Payments to give clients a more seamless global procurement through payment processing solution. The new strategic alliance will enable companies to implement efficient invoice processing for their customers, while at the same time, allow them to enjoy efficient cost savings of automated payments processing to vendors across the globe.
In addition, IQ BackOffice welcomed three new clients this quarter: Additional expansion in the restaurant industry with Golden Gate Bell Restaurant Holdings, LLC, one of the largest Taco Bell franchisees in the US; expansion into other industries with Sivantos Group, one of the world's top manufacturers of hearing aids; and Imperial Finance & Trading, a specialty finance company focused on providing customized liquidity solutions for owners of illiquid financial assets.
About IQ BackOffice
IQ BackOffice is a global leader in business process outsourcing, delivering customized solutions for its clients and boasting 99.97% quality and up to 68% cost savings. By reengineering existing processes such as accounts payable, accounts receivable, payroll and human resources, IQ BackOffice reduces costs, enables better decision-making and creates stronger financial controls. Clients range from mid-sized to multi-billion dollar private and public companies, across industries such as restaurant and hospitality, real estate and property management, manufacturing and distribution, telecommunications, utilities, energy, financial services, professional services and others. IQ BackOffice is majority-owned by LiveIt Investments Limited, the holding company for Ayala Corporation's investments in the business process outsourcing sector. Ayala was established in 1834 and is one of the leading conglomerates in the Philippines. For more information about IQ BackOffice's wide range of services, please visit http://www.iqbackoffice.com/.
For additional information, please contact:
Alyssa Scott
Burson-Marsteller
+1 212-614-4012
[email protected]
SOURCE IQ BackOffice