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About Iqor Global Services, LLC

When iQor comes a-ringin', debtors better come a-bringin'. One of the world's largest business process outsourcing companies and a top debt collection agency, iQor provides third-party collections, accounts receivable management, and customer service. Its clients represent a wide swath of sectors ranging from commercial groups and financial services companies, to utilities and government agencies. The company operates about 40 call centers in North America and Asia, after selling its UK business in 2013. iQor added warranty repair for consumer electronics with its 2014 purchase of Jabil Circuit's aftermarket services division. iQor is majority owned by private equity firm Huntsman Gay Global Capital.

Operations

The oddly-named company is a global provider of business process outsourcing (BPO) services and is the second largest accounts receivable management company in the world.

In addition to debt collection, iQor offers customer care and customer retention services. Its iQor Innovations Lab helps companies use data and analytics to monitor customers.

Geographic Reach

New York City-based iQor has more than 32,000 employees operating out of roughly 40 call centers in the US, Canada, China, India, Mexico, Panama, and the Philippines, and offers its services in more than 60 countries.

Sales and Marketing

iQor collects on behalf of companies from a variety of sectors, including: communications, financial services, government, healthcare, insurance, manufacturing, retail, technology, transportation, and utilities.

Strategy

Business has been good in recent years for iQor, and the company continues to expand its operations to keep up with high-demand in markets worldwide. In early 2015, the company announced that it would add 65,000 additional square-feet to its Dasmarinas, Philippines contact center, which tripled the call center's size and increased its staff to some 5,000 employees. In 2014, the company relocated its global headquarters from New York City to St. Petersburg, Florida, along with all 1,800 employees and 20 new corporate hires. Also that year, it expanded its reach in Latin America with the opening of a 300-employee call center in Panama City to meet the ongoing demand from client growth.

iQor has looked to acquisitions and partnerships to extend its customer service business. In late 2014, iQor was awarded a contract to provide the after-sales customer service for the network and broadcasting solutions provider ADB. As part of the partnership, which will help ADB fulfill its customer demands more adequately and faster, iQor will assist ADB customers with repair, refurbishment, testing, and spare part fulfillment of ADB-provided equipment.

To better focus on growing its business in North America and other high-growth markets, the firm in March 2013 sold its operations in the UK, which provided outsourced debt collection services to the public and private sectors in Britain, for £40.5 million ($62 million).

Mergers and Acquisitions

In late 2013 iQor bought the aftermarket services division of contract electronics manufacturer Jabil Circuit for $725 million. Adding warranty repair for consumer electronics allows iQor to create a unique service that addresses customer care (including sales, technical support, and accounts receivables management), product diagnostics, and repair services. Jabil's aftermarket services division is no shoestring operation either. It has 13,000 employees and 28 facilities around the world.

In December 2012 iQor acquired CCT Group, a global provider of dedicated, shared and hybrid contact center outsourcing solutions, from majority investor Headland Capital Partners. The purchase boosted iQor's technology offerings while expanding its reach in Latin America and the Philippines,

In late 2010, iQor bought accounts receivable outsourcing services provider RMS, extending its reach in the business-to-business market and including operations in the US, Canada, Hong Kong, India, and Mexico. Citi Venture Capital, another investment firm, participated in the RMS merger and, as a result, holds a stake iQor.

Iqor Global Services, LLC

200 Central Ave FL 7
Saint Petersburg, FL 33701-3566
Phone: 1 (727) 369-0100

Firm Stats

Employer Type: Privately Owned
Pres: Daniel Montenaro
V Pres: Grant Newmyer
Employees (This Location): 350
Employees (All Locations): 19,000

Major Office Locations

Saint Petersburg, FL

Other Locations

Saint Petersburg, FL
Louisville, KY