GARDEN GROVE, Calif., May 23, 2006 (PRIMEZONE) -- Vengroff, Williams & Associates (VWA), a leading provider of receivable management and business process outsourcing solutions, today announced availability of its deduction management system, known as DMS. Already in use by VWA's leading retail and entertainment customers, the technology was developed to complement VWA's outsourced receivables services and is ideal for companies that use large distribution channels or sell direct to large retailers. VWA's deduction management system drastically reduces the manual process associated with high-volume deduction and the disputed resolution processes by connecting vendors, distributors and retailers via a Web-based application. With this solution, deduction management resources can typically be reduced by 20%.
"Innovative companies demand innovative ways of running their businesses all the way down to how they manage their distribution and receivables," said Gabe Torek, CTO of Vengroff, Williams and Associates. "To meet the high standards of our customers' receivables needs, VWA puts a heavy emphasis on technology. Whether via partnerships, or internal development, our customers can depend on VWA to offer the most advanced receivables management technology the industry has to offer."
Meant to work with ERP platforms that don't offer the ability to manage mass deductions efficiently, VWA's deduction management system features include:
-- Data Merge: Combines existing operational data from disparate
systems, vendors, customers and distributors into a centralized
uniform platform.
-- Factor Files: Customizes the accounts receivables (AR) treatment
plan at the portfolio, customer and transaction level to more
effectively utilize human resources and support reporting needs.
Easy-to-use business logic allows real time change without IT
support.
-- End-to-end Accountability: Reduces resolution time by enforcing
cross-departmental accountability.
-- Data Mining: Goes beyond standard AR reporting providing
actionable data to immediately resolve deductions and quantify
root cause issues. Cross-relational reporting allows customers
to reexamine their customer's performance from new perspectives
to strengthen negotiating power.
-- Metrics: Ability to monitor each employee for workload and
productivity allows managers to identify weak links and
bottlenecks before they become problems.
-- Auditing and Controls: Audit trails are available on all user
and administrative activities in support of SOX and SAS-70
requirements.
Availability
VWA's deduction management system is available now and is offered to VWA's worldwide clients using the companies deduction management outsourced services.
About Vengroff, Williams & Associates, Inc.
Founded in 1963 and with $20 billion dollars under its management, Vengroff, Williams & Associates is a leading provider of finance and accounting business process outsourcing (BPO) solutions for Fortune 1000 companies such as General Electric, 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.