Inovatiqa Corporation – Hybrid Accounting Support by MindWhiz
Industry: IT Services & Networking Solutions
Location: Calgary, Canada
Engagement Model: Hybrid (Onshore + Offshore)
Client Overview
Inovatiqa Corporation is a Houston-based provider of medical and laboratory equipment and supplies , serving healthcare organizations across the United States. The company’s rapid growth and nationwide operations meant that its accounting department needed to keep pace with increasing transaction volumes and complexity. Inovatiqa maintained a lean in-house finance team and sought to streamline its accounting processes without compromising accuracy or compliance, especially as the business scaled up.
Challenges
Like many growing companies, Inovatiqa faced several challenges in managing its accounting operations internally:
Rising Workloads
Rapid business growth led to a surge in accounting transactions (vendor invoices, customer orders, payments, etc.), straining the small in-house accounting team. Routine tasks such as accounts payable and receivable were becoming time-consuming and prone to backlog.
Staffing Constraints
Hiring and retaining experienced accounting personnel in the local market was difficult. The company needed additional skilled manpower but wanted to avoid the high costs of expanding the on-site team. There was a clear need for a cost-effective way to scale up support.
Efficiency & Accuracy
Inovatiqa aimed to shorten its monthly financial close cycle and reduce errors. Manual processes and overtime were being used to meet reporting deadlines, increasing the risk of mistakes. Ensuring high accuracy and compliance (e.g. with healthcare industry regulations and GAAP) under tight timelines was a constant challenge.
Coverage & Collaboration
With clients and operations across different time zones, Inovatiqa required more flexible coverage. They needed accounting support beyond the standard 9–5 hours to handle tasks and resolve issues promptly. Additionally, as a healthcare supplier, timely invoicing and quick response to any billing inquiries were critical for customer satisfaction.
Taken together, these factors threatened to slow IT Partners’ growth and jeopardize client commitments. The company needed a solution to rapidly onboard the required expertise —without breaking the budget or risking an SLA breach
MindWhiz Solution
MindWhiz provided a tailored solution by deploying a hybrid staffing model that combined onshore expertise with an offshore team, seamlessly integrating with Inovatiqa’s operations. Key elements of the solution included:
Onshore Accounting Specialist
MindWhiz placed a senior accounting professional onshore (in the U.S.) to work closely with Inovatiqa’s management. This onshore specialist acted as a bridge between Inovatiqa and the offshore team, attending onsite meetings when needed, quickly addressing urgent issues, and ensuring alignment with Inovatiqa’s business culture and practices.
Offshore Team Integration
MindWhiz set up a dedicated offshore accounting team (qualified accountants based in MindWhiz’s offshore delivery center) to handle the bulk of transactional work. This team managed daily tasks such as accounts payable processing, accounts receivable follow-ups, general ledger entries, and bank reconciliations. Despite being offshore, they functioned as a virtual extension of Inovatiqa’s own staff.
Process Alignment & Training
At the start of the engagement, MindWhiz collaborated with Inovatiqa to document all key accounting workflows. The offshore team was thoroughly trained on Inovatiqa’s systems (ERP and accounting software) and industry-specific compliance requirements. Standard Operating Procedures (SOPs) were established, and MindWhiz introduced process improvements to eliminate redundancies and automate where possible.
Technology & Communication
MindWhiz leveraged technology to ensure real-time collaboration. The offshore team worked within Inovatiqa’s accounting system via secure remote access, so data was updated in real time. Regular communication protocols were set up, including daily check-in calls, weekly status meetings (involving the onshore coordinator and Inovatiqa’s finance lead), and shared dashboards for tracking volumes and key performance indicators. This transparency ensured issues were identified quickly and resolved proactively.
Quality Control & Compliance
A multi-level review process was implemented. The onshore MindWhiz specialist reviewed critical outputs (e.g. monthly closing reports, financial statements) for accuracy before finalization. MindWhiz also adhered to strict quality assurance checks and maintained compliance with all relevant accounting standards and data security policies (vital for handling sensitive financial and healthcare-related data).
By implementing this hybrid model, MindWhiz ensured that Inovatiqa received the benefits of both local presence and global reach: the onshore expert provided immediate collaboration and context, while the offshore team delivered efficiency and cost savings through round-the-clock productivity.
Business Impact
Partnering with MindWhiz had a transformative impact on Inovatiqa’s accounting operations. The improvements were both quantitative and qualitative, leading to better performance and value for the business:
In addition to the above tangible results, the engagement allowed Inovatiqa’s in-house finance team to focus more on strategic tasks (such as financial analysis and planning) instead of being bogged down by routine processing. The hybrid support model also provided greater flexibility – for example, during quarterly closes or peak business periods, the MindWhiz team could quickly ramp up efforts to meet deadlines. Overall, Inovatiqa achieved faster reporting, lower costs, and improved accuracy, translating into better decision-making and operational efficiency for the company.
Client Testimonial
“MindWhiz’s hybrid support model has been a game-changer for us. Their team quickly became a seamless extension of our own, handling our day-to-day accounting workload with efficiency and precision. We now close our books faster and with more confidence, and we’ve managed to do it while reducing costs. The peace of mind and reliability we get from MindWhiz’s support is invaluable.”
— Hammad Iqbal, CEO, Inovatiqa Corporation
Why Mindwhiz?
Deep Accounting Expertise
MindWhiz’s team includes seasoned accounting and finance professionals familiar with industry best practices and compliance standards. This expertise ensures that even complex accounting tasks are handled correctly and efficiently.
Hybrid Delivery Model
MindWhiz specializes in blending onshore and offshore teams to provide the best of both worlds. Clients get the benefit of local presence for strategic coordination and communication, along with the cost advantages of offshore talent for routine processing and extended coverage.
Proven Cost Efficiency
By leveraging a global talent pool, MindWhiz helps clients achieve significant cost savings. Companies can scale their operations without the burden of high overhead, typically seeing reductions in operating costs while maintaining (or improving) service quality.
Scalability & Flexibility
MindWhiz offers flexible engagement models that scale with the client’s needs. Whether a company experiences rapid growth or seasonal spikes in workload, MindWhiz can quickly adjust team size and coverage, ensuring continuity and performance under changing demands.
Quality and Compliance Focus
A strong emphasis on quality control and compliance underpins all MindWhiz services. Well-defined processes, regular audits, and adherence to financial regulations (e.g. GAAP, IFRS) and data security protocols give clients confidence that their operations meet the highest standards.
Dedicated Partnership:
MindWhiz prides itself on being more than just a service provider. They work as a true partner, with dedicated account managers and responsive support. Continuous communication, transparency in performance metrics, and a proactive approach to process improvement help build long-term, trust-based relationships.
By choosing MindWhiz, companies like Inovatiqa not only solve immediate resource challenges but also gain a strategic ally that contributes to their efficiency and success. This case study demonstrates how a well-implemented hybrid staffing solution can drive operational excellence and business growth.