SOURCE: IQ BackOffice

February 20, 2008 20:23 ET

IQ BackOffice Rolls Out Payroll Solutions Program for Large and Mid-Market Organizations

Demand for Outsourced Financial Outsourcing Services Continues to Grow as Companies Search for Ways to Improve Back Office Performance

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.

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