Finance, Accounting, Administration & Auditors

Finance

iQ AP Invoice Automation Lowers Processing Costs

Automated invoice workflows lower processing costs and enable prompt payment discounts that favorably impact on the bottom line of the corporation. Comparing the corporation's lower administrative costs to other corporate peer groups in quarterly and annual reports leads to higher dividends and stock value.

iQ Real-Time Cost Reporting Eliminates Surprises

Point-of-sale transaction transaction records eliminate surprises at the end of projects when vendors finally submit their invoices. Waiting for invoices and the time it takes to process them often means the accounting systems are 30-60 days behind real time.

iQ Helps You to Make Data-Driven Decisions

Relevant real-time project data allows management teams to pivot and/or make data-driven decisions based on what is actually happening in the projects. Project cost overruns can be detected early in the life of a project and mitigated in a timely fashion.

Real-time data collection
Integrates directly with any accounting system
Virtually eliminate redundant data entry and invoice errors
Approved invoice data compatible with legacy accounting and ERP systems
Real-time project cost reporting and accruals
Permission-based access to corporate documentation requirements

Accounting

iQ Automated Workflows Save You Time And Money

iQommerce's proprietary automated workflow simplifies the entire AP process while providing permission-based access to all stakeholders in your organization. By utilizing this workflow strategy, the majority of the invoice processing is handled through the collaboration of your project and operations teams and their vendors. Only fully approved transactions reach the accounting team in a digital format that can be easily imported into legacy accounting and ERP systems.

iQ Helps You Manage Deadlines More Effectively

Cost accruals are generated at the point of sale and do not have to be obtained from operations personnel or manual field reports. Generate project reports on demand that detail accruals, invoices, and total project costs in real time.

iQ Increase Invoice Accuracy to Make Your Job Easier

Empowering the operations group to create smart projects and smart vendor contracts leads to invoices reaching the accounting group properly coded and virtually error-free.

Data organized on one platform
Cloud-based document management system included with every subscription.
Connect directly with vendors and clients
Ideal for working remotely
Built-in permissions & access

Administration

iQ Allows Administrators to Actively Collaborate with Operations and Project Teams

Smart Projects rely on the financial aspects of projects being carefully set up by administrators. Further, administrators can analyze and respond to vendor invoice queries within seconds, can identify invoice bottlenecks, and be involved in the invoice approval process which can greatly impact job satisfaction and relevance.

iQ's Automated AP Workflow Levels Administrative Workload and Eliminates Backlogs

Automated invoice processes keep the invoice cycle moving and eliminates backlogs that can become overwhelming to deal with.

iQ Eliminates Redundant Data Entry

iQ makes it possible for every piece of data required by all parties to a transaction to be captured at the point of sale. No individual on either side of the transaction should ever be required to manually enter that data again. This leads to a dramatic increase in invoice accuracy and accountability.

Keep track of time, materials, equipment, services and expenses
Mobile optimized for ease-of-use
Field documents stored real-time in the cloud
Immediately have work approved by supervisors
Project mapping view
Pre-populated fields based on your company's unique process

Auditors

iQ Captures Critical Transaction Details for Auditors

Every transaction within iQommerce contains a full history of who created a document, who approved a document, and who might have edited a document. Recorded information includes the user name, date, time, IP address, as well as both the original and revised data of edited fields and documents.

iQ's Cloud-Based Platform Provides a Centralized Repository for Transaction Information

iQommerce allows auditors to work from their own offices rather than having to provide them with office space and stacks of paper financial documents. If required, anyone can create hard copies of exactly what they need at any time they need it.

iQ Allows Auditors Permission-Based Access to All Transactions

Allow auditors "view only" permission to conduct ongoing audits on a regular basis. Eliminate costly audits under the duress of short reporting deadlines.

Integrates with any accounting system
Create and analyze customizable reports
Determine in greater detail which areas of the business are financially sound
Save hours of time doing tedious entries
Analyze data in any way you like
Auditable transaction trail

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