Vengroff, Williams and Associates, Inc. Providing Mid-Market Companies With Invoice to Cash Services to Mitigate Risk in Light of Recent Credit Insurance and Factoring Developments

Outsourcing Support Tailored Specifically to Offer Alternative Solutions to Factoring by Assisting in Reducing Credit Risks for Vendors and Suppliers


GARDEN GROVE, CA--(Marketwire - July 21, 2009) - Vengroff, Williams and Associates, Inc., the leading global provider of order to cash and business process outsourcing solutions, today announced a series of BPO solutions designed to assist mid-market companies directly affected by CIT Group Inc. and related industry woes, specifically in the areas of credit risk management, working capital infrastructure and outsourcing of commercial third party collections.

CIT and other credit insurers and factors provide some of the nation's largest financing of receivables programs to small and midsize businesses. Recent announcements from CIT late last week indicated that it was seeking a last-minute infusion of private equity in excess of $3-$6 billion before taking drastic measures leading to a possible bankruptcy filing. The biggest areas of concern, should CIT stumble, are for the insurers that hold a large amount of CIT debt and retailers, who rely heavily on the type of short-term lending that CIT provides.

"We are extremely focused on the role that we can play in the evolution of credit risk management solutions to automate and standardize the process of accurately predicting and monitoring credit risk," said Robert Sherman, president of Vengroff, Williams and Associates, Inc. "For more than 46 years, VWA has been assisting mid-market organizations to realize significant cost-reductions and process improvements, while still ensuring maximum visibility across the financial services operations. We offer alternative solutions to factoring by allowing for full control of risk and the automation of business processes for sales-oriented tasks. If CIT's financing option were to be shut down, hundreds of midsize companies will need VWA's services to manage customers, credit risk and collections to offset the collateral damage incurred by the probable lack of working capital infrastructure."

Vengroff, Williams and Associates, Inc. (VWA) has long been dedicated to providing robust credit risk evaluation and analysis software solutions for private and public firms. The goal of credit risk management is to maximize a vendor or supplier's risk-adjusted rate of return by maintaining credit risk exposure within acceptable parameters. Companies need to manage the credit risk inherent in their accounts receivable, as well as the risk in individual credits or transactions. The effective management of credit risk is a critical component of a comprehensive approach to risk management and essential to the long-term success of any organization.

According to Vengroff, Williams and Associates, Inc., financial executives must continuously balance the cost of doing business with the risk of doing business. Each time a dollar of revenue is produced -- all costs of generating that dollar have been thoroughly analyzed in an effort to maximize the profit margin, including costs associated with accounts receivable management. If CIT should declare bankruptcy, the hundreds of billions of dollars in losses associated with bad debt charge-offs would bring brought new attention to managing trade receivables from a risk perspective.

By providing the innovative solutions needed for mid-market companies to control and monitor the risk of credit, VWA provides:

--  Credit Risk Management software to automate and standardize the
    process of accurately predicting and monitoring credit risk
--  SOX complaint policies and processes for credit risk management
    tailored to clients' needs & risk strategies
--  Credit Risk Analysis Resource
--  Credit Bureau Reporting
--  ERP reporting and monitoring processes to validate compliance
--  Consulting Services dedicated to: credit policy, process and
    technology to minimize risk and maximize sales
--  Outsourcing of third party collections
--  Source MPO - Automation of business processes for A/R departments
    across all vertical markets
    

VWA brings extensive domain and technology expertise to global organizations with the goal of solving working capital infrastructure problems through its award-winning ability to provide global BPO solutions. VWA's vertical channels of focus are specifically: Technology, CPG, Retail, Manufacturing and Healthcare. With the company's American delivery sites in New York, California and Florida, and with a European presence based in London with branch offices throughout the EMEA (Paris, Munich, Milan, Amsterdam, Madrid, Frankfurt and Stockholm). VWA has recently opened a facility in China as expansion to meet the needs of its growing 3,000+ global clients.

About Vengroff, Williams and Associates, Inc.

Founded in 1963, and with over $23 billion dollars under its management, Vengroff, Williams & Associates, Inc. is a leading provider of order to cash and business process outsourcing (BPO) solutions for Fortune 1000 companies such as Ford Motor Company, Federal Express, Kodak, Microsoft, Oracle, Cisco, PPG, Yamaha and others.

Applying state-of-the-art proprietary information systems, best practices technology, work flow and talent management to realize cost reductions, operating efficiencies, and improved process design, Vengroff, Williams and Associates' 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 the award-winning Vengroff, Williams and Associates, please visit www.vwainc.com or telephone (866) 393-4892.

Contact Information: MEDIA CONTACT: Beth Trier Trier and Company 415.285.6147 beth@triercompany.com