PITTSBURGH, PA – Growing companies frequently encounter new challenges, complications, and complexities.
More business frequently results in more employees, more invoices to process, and challenges related to finding technology that can scale with this growth.
Such is the case with Ikos (www.ikoshq.com), a firm which coordinates activity for residential rental properties in Pittsburgh, Philadelphia, Chicago, Milwaukee, Washington DC, Baltimore and Cleveland. The fee-based firm lists properties, conducts background and credit checks, schedules showings, and handles the leases on behalf of landlords.
“It’s been a time of rapid growth here,” said Ikos Corporate Controller Rachel Blumenreich. “We had to keep pace with expansion, so we began to look at ways to streamline processes while saving time and limiting expenses.”
One area that was significantly impacted by this growth was in accounts receivables and the monotonous, repetitive, and time-consuming tasks of sending out emails, following up, and reconciling with existing accounting software programs.
Blumenreich found the solution with Biller Genie (www.billergenie.com) , a leading innovator of SaaS technology to automate and improve accounts receivable processes.
“One of the major advantages of our platform is that it scales with our users,” said Thomas Aronica, CEO and Founder of Biller Genie. “Whether you’re a one-person firm or a larger organization we provide an important service that saves time, improves profitability and cash flow, and reduces expenses.
“And, this technology actually becomes more important as companies grow.”
Prior to using Biller Genie, Blumenreich estimates she was manually emailing approximately 100 invoices a month. She was following up with phone calls and re-sending the invoices. And then waiting for checks.
“Biller Genie basically became our A/R department,” she said. “It’s no exaggeration when I say there’s been a savings of around 20 hours a week. As you can imagine, that’s important with a growing business.
“We can now work on other projects and from an expense standpoint we didn’t have to hire people to manage A/R. Quite remarkable.”
Biller Genie automates the entire process with services that can be customized.
For example, Ikos has also found the branded customer portal encourages self-service by allowing their clients to retrieve invoices, pay online, store payment information, and view history- anytime, anywhere.
Blumenreich said that Ikos is using the “payment button”, allowing landlords to immediately pay fees online with the click of the mouse through credit and debit cards, ACH, or Apple Pay.
All of these payments are automatically synced and reconciled to existing accounting software platforms like QuickBooks, Xero, AccountingSuiteTM, and more.
“It saves time and the results are significant in that Biller Genie merchants are getting paid faster because they make it convenient for their customers to pay when and how they want,” added Aronica. “It has really become an optimal payment experience benefiting our merchants and their customers.”
Biller Genie’s fully automated platform has the following features:
- Integration with popular accounting platforms such as QuickBooks, Xero and AccountingSuiteTM.
- Automation of the entire notification and follow-up process. This includes late payment reminders and thank-you notes on a custom schedule determined by the user.
- A completely branded user experience to strengthen brand awareness. This allows users to view invoices, review payment history, store payment information, and set up automatic payments.
- Multiple payment options – credit/debit cards, ACH, Apple Pay
- A dedicated customer portal that drives self-service
- A late-fee manager alerting customers about penalties associated with delinquencies, a feature that expedites payments
- Elimination of duplicate data entry and errors
ABOUT BILLER GENIE
Based in Miami, Florida, Biller Genie has quickly emerged as a leading developer of innovative features that automate the invoicing and accounts receivable processes. The new platform helps businesses work smarter and improve cash flow. Biller Genie also reduces administrative expenses by standardizing and automating invoice procedures and follow-up initiatives. It is a recent recipient of the CPA Practice Advisor Technology Innovation Award, the Electronic Payment Association’s NexTen Award, and has been accepted into the Money20/20 Startup Academy.
Ikos streamlines the residential renting process that has been complicated and frustrating for both landlords and renters. The Pittsburgh-based company works on behalf of landlords, handling and coordinating the listing of properties, scheduling showings, conducting credit and background checks, and presenting leases to tenants. The firm has offices in Pittsburgh, Philadelphia, Chicago, Milwaukee, Washington DC, Baltimore and Cleveland.