May 13, 2009

FOR IMMEDIATE RELEASE

Amy Rosenthal
Trier and Company for VWA
415.717.2485
Email contact: amy@triercompany.com

Corporations Prioritize Working Capital Management According to Vengroff, Williams & Associates, Inc. Survey

Garden Grove, Calif. -- May 13, 2009 -- Vengroff, Williams & Associates, Inc., the leading provider of receivable management and business process outsourcing solutions today announced findings from a recent online survey of financial executives at Fortune 1000 companies in the United States.

The VWA survey revealed that a large number of the companies are significantly concerned about both cash flow and tight liquidity and are keeping a strident watch on credit terms and corporate credit risk. The global economic environment and restricted access to liquidity has highlighted the importance of an efficient cash management structure. As working capital is the lifeblood of firms, 90% of the survey respondents indicated that they are constantly examining the ways in which they can get cash flow under control. While traditional corporate performance levels have focused on factors such as the efficiency of manufacturing, operations, and the effectiveness of sales and marketing, the primary issue is working capital management, that which dictates business survival and growth.

Additionally, the survey revealed that historical-based measurements, such as past due percentages, DSO and aging quality, used by 89% of the responding companies, are the primary measure of success for their firms. The majority of those polled stated that they are looking for proactive ways to head off receivables disputes before they become an issue.

"Affiliating oneself with a trusted partner that has the range of cash management solutions required to optimally manage collections, payment and liquidity is vital at this time in our economy," stated Robert Sherman, president of Vengroff, Williams and Associates. "Using historical indicators alone, such as DSO and percentage past due, to measure success is akin to driving while looking in the rear-view mirror. When cash is otherwise locked in due to disputes it is time for companies to tighten credit practices and optimize cash inflow to ensure that DSO, DDO, and Collection Effectiveness is not negatively affected -- these key metrics used to rate the financial health of firms."

Furthermore, 90% of the polled corporations agree that effective dispute, and deduction management can improve customer service and unlocks time for justifiable activities like sales, order entry and cash collection. Overall, with effective working capital processes in place, efficiency increases as a result of reduced operating costs. In fact, 72% of respondents say that their company reviews the balance of overdue receivables on a weekly basis.

Additional survey findings from VWA revealed that in spite of the fact that 68% of the respondents have themselves requested credit from a vendor or credit resource in the past 90-days, this same percentage has tightened up their respective corporate credit policy in response to the current credit crunch. Overwhelmingly, responding companies noted that is it riskier to extend credit to their customers, as compared to the same time last year.

The VWA survey conducted in April 2009, polled financial, collections and receivables executives at mid-to large-sized global companies in varying industries and found that:

• 93% of companies tie individual success to the overall company financial goals
• 76% indicate that the single biggest challenge facing their company today is handling the work volume with limited resources
• 87% say that their company will not be facing financial issues due to lack of working capital within the next 3-6 months

According to an Aberdeen study in 2008, titled, "Working Capital Optimization: Finance and Supply Chain Strategies for Today's Business Environment," 71% of companies polled cited Working Capital Optimization (WCO) as a high priority. The top pressure driving companies to focus on WCO is the pressure by financial stakeholders to improve working capital metrics. Aberdeen Group's study of 179 companies shows that corporations are responding to the tighter financial conditions with an increased focus on short-term internal strategies of extending Days Payable Outstanding (DPOs) and reducing Days Sales Outstanding (DSOs).

About Vengroff, Williams & Associates, Inc.
Founded in 1963, and with $23 billion dollars under its management, 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. Applying state-of-the-art proprietary information systems, best practice work flow and people 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. Named a Top 21 enterprise-level FAO service provider by FAO Today Magazine and to the Global Services Top 10 in the FAO Category, to learn more about the award-winning Vengroff, Williams and Associates, please visit www.vwainc.com or telephone (866) 393-4892.