SOURCE: Vengroff, Williams & Associates

January 16, 2008 09:00 ET

Vengroff, Williams & Associates Celebrates 45 Years in Finance and Accounting Outsourcing Business

Company Responsible for $23 Billion in Accounts Receivables for Leading Fortune 1000 Companies

GARDEN GROVE, CA--(Marketwire - January 16, 2008) - Vengroff, Williams & Associates (VWA), a leading provider of receivables management and business process outsourcing solutions, today announced its 45th anniversary. From a small store front in Long Island, measuring a scant 300 square feet, VWA was founded by patriarch, Harvey Vengroff, who started the business when a client owed his janitorial company the sum of $35,000.

Since opening its doors in 1963 as a collections management agency, VWA has grown to 1000 employees, gained the trust of 3000+ leading companies representing $23 billion in accounts receivables and began offering a full range of accounts receivables services.

"Until recently, we did not do much mainstream marketing, primarily growing the business through referrals," said Mark Vengroff, CEO of VWA. "This is testament to the satisfaction of our customers."

One of the keys to VWAs success is its highly trained employees, who tap into the company's 45-years of lessons learned to deliver a high-quality, flexible customer experience. In fact, VWA was rated "Promising" in Gartner's MarketScope for Comprehensive Finance and Accounting Business Process Outsourcing, 2007(1).

"We are very proud of the that fact through it all, we have been able to continue to deliver customized, 'boutique-like' services to our customers, who have in turn, helped us get to where we are at today. We are looking forward to 45 more years of service to our customers," Mark Vengroff added.

"The VWA brand has been built over the past 45 years on innovation," stated Mark. "We were among the first in our business to advocate for regulation. We were the first in our business to build sales teams exclusively for clients. We were the first in our business to enhance the image of receivables management to one of being about people -- dedicated sales people working hand-in-hand with clients to find the most efficient and cost-effective solutions to business processes."

Although VWA's founder, Harvey Vengroff, retired from the business a decade ago, he is still called upon by management for guidance and inspiration. Glancing back at the past 45 years, he was asked if he was amazed at the company's success over the years.

"No, not at all. We are good at what we do. Simple as that. We hire good people. We do what we do well. We built long-standing relationships with our customers who have come to trust us. This is what most good companies do over time -- they build relationships with customers and they get the job done."

About Vengroff, Williams & Associates, Inc.

Founded in 1963, and with $23 billion under its management, Vengroff, Williams & Associates is a leading provider of receivables management business process outsourcing (BPO) solutions for Fortune 1000 companies such as Ford Motor Company, Federal Express, Kodak, Microsoft, Yamaha and others. Applying state-of-the-art proprietary information systems, best practice work flow and people to realize cost reductions, operating efficiencies, and improved process design, VWA's approach enables clients to easily insource or outsource all or part of the quote-to-cash function. Solutions are customized to each client's requirements or expanded to incorporate specialized tools and SAS 70 compliant processes and procedures. Services include full order to cash processing, third party collections, EIPP systems, deduction management, dispute management, auto cash solutions, front-end risk mitigation, and tax resolution. VWA has been named a Top 21 enterprise-level FAO service provider by FAO Today Magazine. To learn more about VWA, please visit www.vwainc.com or telephone (866) 393-4892.

About the MarketScope

The MarketScope is copyrighted in December 2007 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

(1) Gartner, Inc., "MarketScope for Comprehensive Finance and Accounting Business Process Outsourcing, 2007" by Cathy Tornbohm, December 21, 2007

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