PR - Vengroff Enhances Deduction Management System

 
Vengroff, Williams & Associates (VWA), a leading provider of receivable management and business process outsourcing solutions, today announces significant enhancements to the company’s flagship Deduction Management System (DMS). DMS 2.0 combines existing operational data elements from disparate systems, customers and vendors in a centralized uniform platform to reduce costs, improve collections, achieve faster resolution, produce cleaner accounts and achieve incisive analysis of root causes. Additionally, DMS 2.0 is designed to improved operational excellence and customer satisfaction and most importantly, to drive toward best practices and continued process improvements by incorporating technology into what has been, traditionally, a manual-process oriented series of tasks. 

VWA’s DMS proprietary technology was developed to complement VWA’s outsourced receivables services and is ideal for global organizations that have large distribution channels or companies that sell directly to large retailers. VWA’s DMS reduces the manual processes associated with high-volume deduction and the dispute resolution processes by connecting vendors, distributors and retailers via a Web-based application. Coupled with VWA’s outsource solutions, the benefits of bringing together people, process, and technology are achieved with a clear ROI delivered to each client engagement. The new features allow clients to communicate collaboratively and see faster dispute resolution with the overall goal of reducing workload, enforcing timely follow-up, establishing accountability and facilitating the quick resolution of disputes.

“Being able to align execution with strategic intent is essential to VWA’s clients and by having real-time visibility into the order/fulfillment/invoicing/payment process allows VWA to get comprehensive, consistent view of our clients’ deduction management needs,” said Stefan Pofahl, Senior Director of Operations at VWA. “Helping our clients eliminate unnecessary deductions results in benefits ranging from lowered operating costs and increased productivity to a positive impact on their balance sheet.”

“VWA’s Deduction Management System has been a vital component in our ability to be to track outstanding receivables and bring resolution to a large volume of transactional issues,” said Kim Motika, vice present of worldwide sales and operations for D3Publisher of America, Inc. “Deduction Management Component functionality is a part of all A/R processes when working with the mass market retailing segment. At D3P, the volume of documents and process controls required to bring accurate tracking and settling of payments to invoices, specifically when it comes to short or partial payments requires sophisticated tools. Without the benefits of VWA technology, the result would be large expenditures for labor, and the inevitable increase of customer’s days to pay. VWA’s DMS platform allows us to accurately track deductions taken for various reasons and provide improved customer service with a reduced DSO benefit.”

As global organizations conduct direct sales to retailers and the specialization of the supply chain continues to grow, VWA has seen a significant increase in transactional volume, specifically within the retail industry and as the volume increases, the chance for error grows. Previously, these small dollar amounts fell within the tolerance calendar, yet over time, these small dollar amounts have brought about sizeable revenue leakage. Where DMS plays a significant role in solving the business problem is by using technology to quickly identify deductions and their root causes, thereby cutting down the need for escalation and additional days sales outstanding (DSO). 

Advanced reporting empowers executive management to quickly identify the departments that trigger errors and implement process improvement. Collectively, these tools reduce laborious rework of claims, accelerate cash flow and decrease revenue leakage.

“Innovative companies demand innovative ways of running their businesses all the way down to how they manage their distribution and receivables,” said Henry Ijams, Managing Director, PayStream Advisors. “To meet the high standards of today’s customers receivables needs, vendors must place a heavy emphasis on technology. Whether via partnerships, or internal development, customers depend on advanced receivables management technology from the industry. VWA certainly has a valuable tool to offer.”