AUTOMATED debtor management provider IODM (ASX:IOD) today announced a new strategic partnership with national accounting firm and insolvency specialists SV Partners.
The deal will see SV Partners integrate its flexible and cost effective fee funding and payment solution business, SmartFee into the IODM debtor management platform.
SV Partners has an existing network of approximately 4,000 small to medium sized accounting firms across Australia.
According to IODM Managing Director Damian Arena, the partnership demonstrates how seamless it is for large accounting firms to plug into the IODM platform.
“Our technology has been developed to make it as simple as possible for large accounting firms and financial services companies to use and plug into,” Mr Arena said.
“The deal with SV Partners affirms our approach, with large accounting firms recognising the benefit of offering our automated debtor management solution to their own clients.”
“Our alliance partners are a vital part of our go to market strategy. The focus is to empower companies with existing networks and business partners, by simply white labeling our solution. It’s very much a win for both parties as they have an exciting new solution to offer, while we consolidate our revenue with strong compound growth potential.”
According to Terry van der Velde, Managing Partner of SV Partners, it is the beginning of a substantial and positive change in client service.
“As specialist accountants and advisors, SV Partners is focused on providing solutions that can add value to our connected partner network of accounting and legal firms across Australia,” said Mr van der Velde.
Managing Director of SV Partners’ business division SmartFee Adrian Jenkinson, believes the partnership will make a significant impact on improving accountants cash flow.
“The integration of SmartFee into IODM’s platform provides significant opportunities for professional services firms. From improving their profitability by enhancing their debtor management approach as well as supporting new revenue streams leveraging SmartFee’s fee funding solution,” said Mr Jenkinson.
The partnership adds to IODM’s growing list of strategic alliances with arrangements already secured with MYOB, NAB, Reckon, QBO, NCI, PwC, Integra Pay, Maestrano and Xero. The configuration time is forecast to take 30 days with the system going live immediately thereafter.
IODM is a software platform that fully automates the debtor management process that gets cash off the balance sheet and into the bank account, drastically improving velocity to cash flow. Through a single monthly fee, what normally takes hours to manage now only takes minutes, giving businesses control of all the parameters of the accounts receivable cycle. IODM interfaces with key accounting packages, and has 40+ partners across Australia. IODM is headquartered in Melbourne.
SV Partners is an expert accounting and specialist advisory firm focused on supporting professionals and their clients. We provide professional insolvency accounting, turnaround strategy advice, forensic and advisory services to accountants, financial institutions, corporations, financial and legal advisors, and their clients.
The objective of the firm is to provide a suite of professional services to other professionals allowing them to enhance their services to their clients and concentrate on their core business. Complementing our core service offerings to professionals are our affiliate businesses, SmartFee – Fee Funding Solutions and SV Strategic Solutions – Business Improvement Strategies.
SV Partners has approximately 140 staff, with 90 specialist accountants. We have 14 offices, predominately across the eastern seaboard with a focus on delivering the highest quality service to our connected partner network in metropolitan and regional areas.
SmartFee is a division of SV Partners and specialises in providing a professional fee funding service for accounting and legal firms. SmartFee’s core aim is to ensure that invoiced fees don’t inhibit interaction between Accountants or Lawyers and their clients, allowing SMEs to get the advice they need, when they need it, without the impediment of cashflow restrictions. We do this by providing a range of flexible and cost effective payment solutions that create cashflow for professionals and their clients and make it easy for professionals to get paid on time, every time.