IQor

Last updated
IQor
Privately-held
Industry Business process outsourcing
HeadquartersOne Progress Plaza - 200 Central Avenue, 7th Floor,
St. Petersburg, Florida 33701
,
United States
Key people
Hartmut Liebel - CEO
ProductsCustomer Interactions Solutions[ buzzword ], Product Support Services and Data Solutions[ buzzword ] and Analytics
BrandsiQor and QeyMetrics
ServicesThird-party collections, Accounts receivable management, and Customer Service
OwnerPrivately owned by Huntsman Gay Global Capital
Number of employees
40,000
Website iqor.com

iQor is a business process outsourcing company which provides customer service, third-party collections and accounts receivable management. [1] Although its headquarters are located in St. Petersburg, Florida, [2] the company operates about 40 call centers in North America, Europe, and Asia. Since 2014, iQor has shifted to an end-to-end customer support organization, when iQor acquired the aftermarket services division of Jabil Circuit (rebranded as iQor's Product Support division). Services provided vary from consumer electronics, to medical devices.

Accounts receivable legally enforceable claim for payment to a business by its customer/ clients for goods supplied and/or services rendered in execution of the customer’s order

Accounts receivable is a legally enforceable claim for payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes.

St. Petersburg, Florida City in Florida, United States

St. Petersburg is a city in Pinellas County, Florida, United States. As of the 2015 census estimate, the population was 257,083, making it the fifth-most populous city in Florida and the largest in the state that is not a county seat.

Contents

History

In January 2004, Vikas Kapoor became the CEO and President of iQor. Kapoor built the company's computing platforms, developer tools, and cloud computing services. iQor’s employee base grew from 4,000 to 14,000. This success led InformationWeek magazine to rank iQor #27 among the top technology innovators in the US. [3]

Vikas Kapoor Technologist Entrepreneur, CEO of Mezocliq and former CEO of iQor

Vikas Kapoor is the CEO of Mezocliq, an enterprise technology company.

Investigations

In 2012, a CBC news investigation found that iQor routinely and sometimes knowingly repeatedly contacted people who did not owe debt in Canada. The investigation noted that in 2012, two Canadian provinces had fined iQor for violating provincial regulations. [4] In 2010, Allied Interstate, a subsidiary of iQor, was fined $1.75 million by the Federal Trade Commission for harassing debtors and trying to collect from the wrong people. [5]

The Canadian Broadcasting Corporation, branded as CBC/Radio-Canada, is a Canadian federal Crown corporation that serves as the national public broadcaster for both radio and television. The English- and French-language service units of the corporation are commonly known as CBC and Radio-Canada.

Federal Trade Commission Government agency

The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act. Its principal mission is the promotion of consumer protection and the elimination and prevention of anticompetitive business practices, such as coercive monopoly. It is headquartered in the Federal Trade Commission Building in Washington, D.C.

Ownership

iQor is privately owned by Huntsman Gay Global Capital and the company's management team. In 2010, iQor acquired RMS which was headquartered in Bethlehem, PA. [6]

HGGC is a middle-market private equity firm based in Palo Alto, California, with over $4.25 billion of cumulative capital commitments. Since inception in 2007, HGGC has completed platform investments, add-on acquisitions, recapitalizations and liquidity events with aggregate transaction value of over $12 billion, representing more than 60 individual investments with more than 46,000 portfolio company employees. The firm was named 2014 M&A Mid-Market Private Equity Firm of the Year by Mergers & Acquisitions magazine.

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References

  1. Yahoo Finance profile
  2. Harrington, Jeff (9 December 2014). "New York firm iQor moving its international headquarters to St. Petersburg". Tampa Bay Times. Retrieved 1 September 2016.
  3. "iQor Acquires RMS". Globe Newsire. 1 November 2010. Retrieved 1 September 2016.
  4. "Collection agency harassed debt-free Canadians". CBC News.
  5. "Obama Relies on Debt Collectors Profiting From Student Loan Woe". Bloomberg.com.
  6. "iQor Acquires RMS". GlobeNewswire News Room.