IODM (ASX:IOD) has signed a new enterprise contract for its debtor management software with national accountancy and advisory group BDO.
IODM’s cloud-based software platform fully automates the debtor management cycle to help companies get paid quicker and boost cash flow.
The new deal will see IODM’s debtor management platform help BDO automate and improve the speed of its collection processes.
BDO offers a wide range of business and corporate advisory services to large corporate organisations, government entities and private businesses.
IODM will integrate with BDO’s Reckon APS desktop software to reduce the number of debtor days and introduce more efficiencies in its accounts receivable process.
Importantly, the latest agreement is indicative of the interest IODM is garnering from the large accounting and enterprise market.
These are key end-user market segments, which have a need to drive efficiencies by automating workflows, reduce overdue debtors and improve cash flow.
BDO’s decision to deploy IODM was based on low entry and ongoing costs, and the ease of set up with its existing accounting system.
BDO is expecting to see an improvement in its debtor days as well as efficiencies in the debtor management process of around 20%.
IODM’s sales and marketing focus is on targeting corporate accounts and building a national distribution network of strategic partners and resellers.
This strategy has resulted in the conversion of some key enterprise contracts, with continued growth expected in the March and June quarters.