SOURCE: Vengroff, Williams & Associates

February 28, 2007 12:03 ET

Vengroff, Williams & Associates Evaluated as One of Seven Market Leaders in Leading Analyst Firm's F&A BPO Worldwide Competitive Landscape

Evaluation Based on Providers Generating Over $100 Million From F&A Outsourcing

GARDEN GROVE, CA -- (MARKET WIRE) -- February 28, 2007 -- Vengroff, Williams & Associates (VWA), a leading provider of receivable management and business process outsourcing solutions with more than 3000 worldwide customers, today announced that Gartner, Inc. (NYSE: IT) recently profiled VWA as one of the seven market leaders in its "Dataquest Insight: F&A BPO Competitive Landscape, Worldwide, 2006." Published January 15, 2007, written by Cathy Tornbohm, List of Figures, Figure 1.

More than 20 companies are targeting the finance and accounting (F&A) business process outsourcing (BPO) worldwide market with comprehensive or niche offerings. The report highlights F&A BPO providers competing in the market at the end of 2006 classifying them into two main types: Those that offer and have sold comprehensive F&A offerings across the full spectrum of F&A BPO and those that have niche F&A offerings.

"We're happy to see the momentum continue to build in the business process outsourcing market," said Mark Vengroff, CEO of Vengroff, Williams & Associates. "VWA is proud to have been a leader in this market since its inception, and can celebrate our ongoing success with customers and partners."

As a leader in the F&A outsourcing market, VWA sees the following outsourcing trends emerging in 2007:

--  Competitive landscape of finance and accounting outsourcing and with
    labor market changes, companies will be forced to elevate training to
    provide superior customer service. Labor Markets continue to change and the
    ability to train and increase the KPIs at the desk level will continue to
    challenge the F&A market. Outsourcing providers need to see the ability to
    utilize technologies to analyze the current work habits and accountability
    of each function. This ability, used in tandem with a learning management
    system (LMS), can provide intuitive learning programs, on-demand sessions
    and scripting programs to support the right decision and work flow for
    acceptable people process.
    
--  Finance-driven process improvements will need to bridge the process
    gap within the entire corporate organization. Driven by greater integration
    between finance and non-finance related data (such as sales, marketing and
    customer data), finance now has greater insight into performance issues
    that arise within the quote-to-cash cycle. Outsourcing of the F&A functions
    will allow for corporations to have the ability to create a streamlined
    ownership process of all tasks.
    
--  Global standardization of billing and payment practices will drive
    companies to adopt new technologies. Doing business on all corners of the
    globe has created a situation where standardization of such practices as
    customer billing, electronic payment and document delivery needs to be
    synchronized on one platform for use around the world. Such functionalities
    as e-billing focus on creating a secure method of clear visibility around
    payment, disputes, POD, and contracts.
    

Most recently, VWA announced the launch of its Skill Development Partners program (SDP), which delivers specific skill development and talent Management solutions to credit and collections departments within global Fortune 1000 organizations.

About Vengroff, Williams & Associates, Inc.

Founded in 1963, and with $23 billion dollars under its management, Vengroff, Williams & Associates is a leading provider of receivables management business process outsourcing (BPO) solutions for Fortune 1000 companies such as Tyco, 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. To learn more about VWA, please visit www.vwainc.com or telephone (866) 393-4892.

Contact Information

  • Media Contacts:
    Robert Sherman
    Vengroff, Williams & Associates, Inc.
    714.889.6202
    Email contact: Email Contact

    Pamela Herman
    Trier and Company
    415.422.0024
    Email contact: Email Contact