PR - VWA Sees 51 Percent Increase in Third-Party Collections Activity

Vengroff, Williams & Associates (VWA), a leading provider of receivables management and business process outsourcing solutions, today announced a 51 percent increase in overall third-party collections activity. California, New York and Florida saw the highest activity with 18, 21 and 66 percent increases respectively. The percent increases are based on VWA’s expanding 3000+ customer base and compared activity from 2006 to 2007. The biggest increases were seen in commercial B2B, healthcare and consumer financial services.

"Tough economies always result in increased bad debt or the need to cure slow paying customers," said Mark Vengroff, CEO of VWA. "Based upon close interaction with clients and the marketplace, the increased activity is in line with our expectations. We anticipate these levels to continue for both commercial and consumer debt through 2008. The majority of our clients have begun to tighten their extension of credit and are looking to liquidate their own receivables earlier in the collection cycle to mitigate any potential risk of additional write offs."

The news comes off the heels of predictions by industry analysts and VWA that the demand for finance and accounting (F&A) outsourcing will increase as CFOs prepare for a tough economy.

Founded in 1963, and with $23 billion under its management, Garden Grove, Calif.-based Vengroff, Williams & Associates is a leading provider of receivables management business process outsourcing (BPO) solutions for Fortune 1000 companies such as Ford Motor Company, Federal Express, Kodak, Microsoft, Yamaha and others.