The short answer is that ICG is a different kind of solution provider because we focus on the business issues first. Then we configure a solution from our technology based set of tools to address those business process issues. One size does not fit all! Our base of long-term clients who chose ICG over larger more recognizable names validates this philosophy:
- ICG approaches prospective customers by first obtaining a solid understanding of the business problem or opportunity to be addressed.
- We craft business solutions from a wide array of modular, boilerplate applications that can be configured to address the target area with additional modules added as needed.
- Provide single or multi-tenant cloud-hosted solutions to fit our customers cost, performance and security needs with no transaction fees to users or suppliers.
- Our highly configurable solutions suite supports on-premises, remote or hybrid back-office operations to allow you maximum flexibility under any condition.
- ICG’s technology team offers multiple integration options to ensure data flows seamlessly in both directions in manner that complies with your IT goals.
- The same business and IT people who will be involved in the implementation and support of your solution(s) are involved in the sales cycle as well, so there is no gap between what is sold and what is delivered.
- The support we provide post implementation isn’t just a help desk, but the same team of business and IT resources who crafted and implemented your solution are there to support your business with any issues that may arise.
In Good and Bad Economic Times
Back-office efficiencies and cost savings are at the core of the return-on-investment ICG delivers. In bad economic times when sales are slow and margins are under pressure, our back-office solutions can deliver much needed cost reductions and increased productivity needed in challenging times. We also help you to manage your vendors and create a robust vendor self-service environment that allows you to push non-value add activities back to your vendors via a vendor portal.
When times are good and sales are booming the automated nature of ICG’s financial back-office solutions will enable your operations to handle growth, generic or via acquisition, with little or no additional back-office processing costs.
ICG Helps You Focus Where It Matters
How often have you heard this? “It’s just paying bills. How hard can it be?“
- Discounts Captured. This is so important because we see a lot of businesses that are not capturing many of the discounts they are entitled to and should be getting. Some companies see a 70% discount capture rate and think that is pretty good. ICG would rather see that number at 95% or higher and we have the tools to help get your there!
- Cycle times for invoice and dispute processing. This is the amount of time that passes from when the vendor invoice lands on your doorstep and the time the payment goes out the door, or when a payment dispute is submitted until it is resolved. High cycle times usually result in higher processing costs, lost discounts, and less flexibility to manage cash flow.
- Cost per transaction. What is it costing your company to handle and process an invoice? This calculation may start from the time the PO is created or just include the cost of processing the transaction for payment. Tracking this KPI and making sure you keep this number as low as possible will keep costs down and allow for transaction growth without a large increase in expense.
- Exceptions. Of the invoices coming through the door, how many of them have problems/discrepancies? In most organizations this number is generally relatively high. Changes to your process and vendor behavior can help in this area but automating the exception processing process can reduce costs dramatically.
- Credit holds. These are vendors who have frozen your account and will not do business with you until payment issues are resolved. For many companies a vendor withholding products or services can have a very negative effect on your business. Vendor management tools along with back-office automation can help to eliminate this condition and create better relationships (and contract terms) with your key vendors.
- Workflow management. Getting the right information to the right people at the right time is fundamental to back-office efficiency. Whether it is approving invoices, correcting discrepancies, evaluating new vendors, researching disputes, etc., having a well thought out workflow that fits your process will go a long way to facilitating an efficient operation. All the items above will be positively impacted by an automated workflow management process.
- Communicate. Collaborate. Transact. An often overlooked key to an efficient back-office operation is the ability to communicate and collaborate in real-time with your vendors so the transaction processing flows with minimal disruption or delay. Vendor portals provide the vehicle to stay connected to your vendor base 24×7 from anywhere in the world.
The Tools For a More Efficient Back-Office
The technology-based tools our teams use to configure a solution for you include the following. We invite you to visit our Solutions page for more information:
- AP Automation
- Vendor Portals (Supplier Portals)
- Vendor Onboarding & Administration (Supplier Onboarding)
- Workflow Management
- Dynamic Discounting
- Data Capture and Document Assembly
- PO Dispatch & Update