LOS ANGELES, CA--(Marketwire - August 26, 2010) - Vengroff, Williams & Associates, Inc. (VWA), the global domain leader for Order to Cash Business Process Outsourcing, today announced significant momentum among its roster of clients in the CPG sector. By using its proprietary technology to improve the order to cash cycle, VWA is helping to increase the effectiveness and efficiency of major CPG manufacturers' deduction management.
Every company in the world that sells into retail channels knows the challenges of preventing revenue leakage around deductions. As a result of the fierce competition for shelf space, companies have been forced into many costly concessions, resulting in negative impacts to the bottom line. A prime example of the pains that companies feel is the variance of deductions and the resulting chargebacks driven by retailers offsetting amounts. This results in millions of dollars of revenue leakages to companies and requires a new approach to ensure that this highly preventable set of occurrences is properly addressed.
Companies need a fast and easy way to identify deductions and their root causes, thereby cutting down the need for escalation, potential revenue leakage and additional days sales outstanding (DSO) due to slow resolution. Being able to align execution with strategic intent is essential to CPG manufacturers and by having real-time visibility into order fulfillment, returns, VMI, trade fund management and invoicing and payment processes, VWA maintains a comprehensive and consistent view of its CPG clients' deduction management needs for O2C, resulting in timely revenue recognition of disallowed collections and improved cash flow.
Utilizing VWA's Webcollect O2C and Source MPO, fully-integrated, enterprise-wide and web-based Software-as-a Service (SaaS) outsourcing products, VWA's customers are able to drive significant cost-reductions and process improvements, while still ensuring maximum visibility across the financial services operations.
VWA's Source MPO and Webcollect O2C enable greater control and faster dispute resolution, with its ability to capture information from different parties and sources (customers, sales, distributors, etc.). With deductions processing requiring multiple interactions between sales, accounting and supply chain, Webcollect enables greater visibility and faster dispute resolution by monitoring and tracking the progress of deductions processing. VWA's deduction management tools engage the entire supply chain and permits visibility and specific assignments electronically. VWA's technology insures real-time follow up, with all disputes being adjudicated between 5-60 days depending on the type of dispute and complexity. The benefit is revenue leakage prevention, and maximized cash flow.
"Providing an enhanced finance and accounting outsourcing product for growing CPG companies allows VWA to demonstrate our strength in delivering the critical infrastructure needed to manage finance and accounting functions efficiently, while streamlining process costs and automating manual tasks," said Robert Sherman, president of VWA. "VWA is pleased with the recent traction and recognition received for our proficiency and innovative solutions for our existing and new CPG clients. Over the past 6 months, our new client acquisition within the deduction management space specifically has surpassed our full year forecasting. Our success is testimony to the culture and innovation brought to each engagement by our dedicated associates."
About VWA
VWA is the global domain provider of order to cash business process outsourcing for optimizing working capital. We provide a full range of solutions and technologies which allow clients to achieve substantial financial and operational benefits that enable operational efficiency which significantly influences the outcome of their businesses.
With extensive industry expertise in Order to Cash outsourcing, VWA provides a broad and evolving spectrum of service offerings including O2C, starting with credit, revenue cycle management, Deduction Management, Dispute Management, 3rd party collections, Subrogation, Credit Risk Mitigation Services and A/R technology solutions.
Named a Top 21 enterprise-level FAO service provider by FAO Today Magazine and to the Global Services Top 10 in the FAO Category and Top 50 in the enterprise FAO space in the BlackBook of Outsourcing, 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 for VWA
beth@triercompany.com
415.285.6147