LOS ANGELES, CA--(Marketwire - February 20, 2008) - IQ BackOffice, a leading provider of
accounts payable (AP), payroll management and accounting business process
outsourcing solutions, today announced the roll-out of its Payroll
Solutions program to provide tools and services that allow large and
mid-market organizations (specifically under $5B) to automate and optimize
HR Operations with world-class, outsourced payroll processes and teams. IQ
BackOffice's payroll professionals are trained in all of the pertinent
payroll rules and regulations necessary to build and implement a
world-class payroll process without the operational overhead expenses and
management time typically required.
"Our proprietary technology supports large and mid-market organizations
with the processes and tools to automate their payroll operations," states
David Schnitt, founder and President of IQ BackOffice. "Our payroll model
enables IQ BackOffice's Payroll Solutions to streamline client processes
and increase organizational efficiencies without driving up costs."
Payroll Solutions actually addresses the other half of the payroll
processing equation and works in partnership with payroll processing
companies. When an organization chooses to outsource its payroll functions
to a company such as Ceridian or ADP, the payroll department still exists.
The payroll department processes new hires, terminations, sends salary,
hours and hourly rate data to the payroll processor, coordinates the
delivery of paychecks, and provides a customer service function to
employees. The payroll department also becomes the expert in terms of
payroll rules and regulations and corporate compliance.
Current clients, such as Grill Concepts, are using IQ BackOffice's Payroll
Solutions to gain better control over their payroll processes, utilizing
state-of-the-art technologies, thus enabling the companies to better focus
on their core business while improving the overall quality of the payroll
process.
The key competencies derived from Payroll Solutions are:
-- Control - IQ BackOffice ensures that internal controls for the payroll
process are documented and enforced. Payroll is processed properly, with
all pertinent rules and regulations followed.
-- Focus - The IQ Archimedes™ technology platform images all
applicable transactions, electronically routes them for client approval,
and maintains a real-time audit trail.
-- Technology - Payroll processing by IQ allows Finance & Accounting and
HR management to focus on more strategic, value-added activities that
matter to the business.
-- Cost - The IQ solution reduces payroll processing costs.
About IQ BackOffice
A division of R.C. Baral & Co., IQ BackOffice is headquartered in Southern
California, and is a known innovator in the finance & accounting
outsourcing industry. With more than a quarter of a century of service to
over 60 widely recognized clients in the restaurant/foodservice, retail,
manufacturing, distribution, financial services and publishing markets,
clients typically reduce costs by 20% to 50% annually.
SAS 70 Type II compliant, IQ BackOffice keeps up-to-date on the latest
government-mandated regulations and delivers a complete solution that
includes both technology and finance-specific domain expertise aimed at
keeping clients in complete control, while significantly reducing operating
costs. For more information, visit
www.iqbackoffice.com.
Contact Information: Media Contact:
Aimee Quemuel
Trier and Company
(415) 753-9005
aimee@triercompany.com