OfficeTorque is an online business services company that helps organisations significantly improve their working capital, reduce their costs, and enhance customer service. OfficeTorque provides a range of electronic bill presentment, bill payment and AR automation tools, as well as fully integrated FRM solutions that automate most of the workflows and communications associated with invoice or bill presentment, payment processing, and AR management. Combining the efficiencies of a flexible workflow management system and the effectiveness of an integrated multichannel communications gateway, OfficeTorque FRM positively changes the way organisations maintain their on-going customer relationship and at the same time improve their bottom line.
FRM integrated approach
FRM – Financial Relationship Management brings to the back office what CRM provides for the front office by enhancing the post-sale customer experience and automating many of the associated workflows and communications .
FRM takes an holistic approach to the entire credit to cash cycle, from easy to use customer self-help interfaces, payment, automated collections through to simplified allocations.
FRM provides you with a much more comprehensive and insightful view of your customers. We can even connect to your CRM to provide a single view of your customer.
Augmenting existing systems
Our cloud-based software synchronises with any existing ERP, accounting, or CRM system to provide affordable best-of-bread capability.
After many years working in, and consulting with many businesses in different sectors, we noticed that there was a lot of focus and investment in systems to automate the front office functions of sales, marketing and fulfilment, but little had changed in the way businesses billed and collected payment.
We decided to do something about it, and we started by challenging the conventional thinking around bill presentment, bill pay and receivables management by taking a very holistic approach these functions. We developed the Financial Relationship Management (FRM) concept, and then developed our software to deliver the required solution to support it.
Different sectors and new business priorities continue to drive us to enhance and expand our specialist offerings. Recent focus has been on better bill pay options. Why should paying your bill be any harder than an eCommerce transaction?
Increasingly, there is growing focus on customer experience and self-help services. This is a new and exciting era, and we are delighted to be in a position to provide forward thinking innovative businesses with a solution and the tools to move billing and collections into the next new area of focus for both businesses and end customers.
Lance Wickman, Founder and CEO.