Vengroff Williams & Associates Inc. has moved to larger space in Irvine to accommodate its staff growth.
The firm’s new office at 16881 Hale totals 15,000 square feet. The accounts receivable management firm was previously in 9,000 square feet in Huntington Beach.
“We are just constantly hiring people, so we need a place to put them,” said Mark Vengroff, president of the firm.
Vengroff Williams’ revenue has been growing at more than 200% annually and the firm is looking at doubling its staff strength over the next few years, Vengroff said.
“We have 75 employees right now and I expect it to go to 150 to 200 people in a two-year time period,” he said. “We have about eight or nine positions that we had to put a hold on because we had no space.” Vengroff Williams’ main line of business is managing accounts receivable for other firms. It handles more than $11 billion in receivables for firms such as Cisco Systems Inc., the American Stock Exchange, Microsoft Corp. and State Farm Insurance Cos.
Vengroff said that more firms are outsourcing their receivables in the economic downturn, to save cost.
Vengroff Williams has been in the accounts receivables management business for more than 35 years. Over the years, the firm has diversified into third-party collections, high-level placement and temporary services in accounting and finance, and credit scoring and analysis.
Vengroff Williams was founded by Harvey Vengroff, father of Mark Vengroff. The firm has 15 offices worldwide and more than 700 employees. It is headquartered in Sarasota, Fla. n
