The deal will integrate IODM with BDO’s Reckon APS desktop software in a bid to reduce the number of debtor days and increase efficiency in its accounts receivable process.
IODM managing director Damian Arena said the agreement is indicative of the interest the company is garnering from the large accounting and enterprise market.
“The corporate market and accounting vertical are key end-user market segments, which have a need to drive efficiencies by automating workflows, reduce overdue debtors and improve cash flow,” Mr Arena said.
“BDO saw the value we provide as the only debtor management solution that seamlessly integrates with their desktop accounting software.”
BDO's WA chief financial officer Jodie Hede said the decision to deploy IODM was based on low entry and ongoing costs, and ease of set-up with its existing accounting system.
The integration is expected to increase collection processes by 20 per cent.
“Other features we were attracted to [were] the ‘pay now’ button and ‘query account’ tool,” Ms Hede said.
“If we’re made aware of an invoice issue, we can immediately seek to address that with our clients, which plays to our values of exceptional client service. However, if there is no issue, we can comfortably proceed with our standard collection procedures.”