Vertican Technologies, Inc. of Montville, NJ (VTI) and Automated Collection Control, Inc. d/b/a YGC Solutions of Pine Brook, NJ (YGC) are both pleased to announce that their Boards of Directors have approved a definitive agreement for YGC to merge with Vertican, effective June 1, 2014. The agreement, endorsed by unanimous shareholder consent on both sides, is a friendly, stock-for-stock transaction in which Vertican has acquired 100 percent of YGC shares in exchange for shares of Vertican. The transaction will provide the collection industry with best-in-class technology that will help make their operations more efficient, compliant, and profitable.
“In addition to creating a world-class company, this is a compelling strategic transaction that will leverage our commitment to excellence and continuous improvement for the collection industry through insight-driven innovation,” said Stevan H. Goldman, Chairman and Chief Executive Officer of Vertican Technologies, Inc. “The addition of YGC and its innovative YouveGotClaims technology to Vertican creates an exciting opportunity for our customers, our company and for our talented and dedicated team members.”
Jeffrey Zuck, publisher of The National List of Attorneys and co-founder of YGC added “Vertican’s commitment to excellence in customer service is perfectly aligned with our philosophy at YGC. Not only did this add impetus to the merger, it also ensures uninterrupted dedication to our customer’s success. For all concerned, this is a great next step for YGC.”
According to Isaac Goldman, Chief Operating Officer at Vertican Technologies, “This combination creates a company that will synergize the YouveGotClaims technology with the case management software from CLS and Q-Soft. The opportunity to bring all of these exceptional teams together will result in tighter cross-platform integration for all of our customers, while improving reliability and transparency throughout the entire collection industry.” Isaac has previously served as Chief Operating Officer at both CLS and YGC.
“We expect an accelerated deployment of existing and new innovative products and services for our customers, said Kurt Sund, founder of Q-Soft and now the Chief Technology Officer of Vertican, adding “This merger delivers enormous opportunities for our current and future customers. The closer working relationship with YGC’s customers positions Vertican closer to the entire collection cycle, from issuers, to buyers, to servicers. The resulting development benefits will be immediate and significant.”
Vertican will begin releasing new products immediately, beginning with Vertiply, its new comprehensive compliance tracking and reporting software. Full support and ongoing software enhancements will continue, uninterrupted, on all existing products from all four Vertican-owned companies, Q-Soft, CLS, YGC and Fillimerica.
Like many in our industry, I subscribe to InsideARM. I think they publish worthwhile pieces of interest to the debt recovery business.
Last week InsideARM sent an email with the subject: “Do You Know When You’re Being Duped By a Third-Party Vendor? Probably Not…” The email was to introduce and promote a webinar regarding third-party vendors, and related compliance issues. The tag line in the email was “Right now, you’re probably at risk and you don’t even know it”, and other language in the email said “There are vendors out there making claims that, under closer scrutiny, don’t pass muster.”
Here at Vertican Technologies, we have firsthand experience that the statements in this InsideARM email are true!
Vertican Technologies users are regularly approached by third parties, usually “consultants” and third-party vendors, who make representations specifically regarding our software products, Q-Law®, Collection-Master®, YGC and Image-Master. Yet, most of these individuals and vendors have NEVER been formally trained on any of our software. Remarkably, they represent that they can help with configuring and using software on which they’ve never been formally trained! Even “consultants” with prior experience using our software (as former employees of firms who do use our software products) lose touch with our software once they leave their prior employment. So, even those who have seen earlier versions of our software do not have adequate experience with the current version, to say nothing of the new software we’re actively developing.
If you’ve been in touch with a consultant who has never been trained on any of the Vertican Technologies software products, and would have no legal access to official Vertican Technologies software documentation, but represents that he or she can help you with our software, BEWARE!! Think about it. Do you really want to be in a position of explaining to an auditor that your system configuration was done by an individual with no formal training on the software you use? Even worse, if your data is manipulated in any way by an unqualified person, if the integrity of your data is compromised, what are you going to do or say then? Ask yourself if these are risks worth taking, BEFORE you expose yourself to such a big risk.
To be sure, there are very worthwhile consultants, with expertise that can add value to your practice. Qualified experts can offer great guidance regarding your business processes, policies, procedures, staffing and more. But, when it comes to Vertican Technologies software, or any other specialty software, do the SMART thing. Call the author!! No one knows their software better than the company that wrote it and supports it. At Vertican Technologies we offer data manipulation services, performed by the ONLY experts who are available and properly trained to do this detailed work. We offer high-level consulting, designed to help you maximize your use of our software. We will gladly furnish references for the services we offer. AND, if we think an outside consultant can help you, we’ll tell you that too. Vertican Technologies wants you to succeed.
This is certainly not the time to increase your risk profile. Be very suspicious of third-party vendors whose claims don’t pass muster. Don’t be duped. If your question is about Q-Law®, Collection-Master®, YGC or Image-Master, start with Vertican Technologies. If you use other collection software, start with your vendor. You trusted your software vendor when you licensed the software. You can continue to trust your vendor to give you the best service, and advice.
Good day everyone. For those I have not yet met, I’m Stevan Goldman, now President of Vertican Technologies.
I’m super excited this morning, because I’m writing to formally welcome all of you, all of us, to Vertican Technologies!
As individual companies we have all been successful and have well deserved reputations for our skills, our passion, and our integrity. Combined, we have delivered more great software, more great support, more great efficiencies and more great solutions than any other company, or companies, in the entire collections industry. When you look at what we’ve already accomplished, it’s easy to see why I’m so excited about our future together. Together, we’re better!
Shortly, Isaac will conduct our first ever company-wide meeting. He will present our vision for our company going forward; what we want to accomplish and how we intend to get there. We’re also planning our first ever combined user meeting, which is going to be great. In addition to what will be our largest gathering of customers, we’re hoping to get as many of us as possible to meet one another in person. Even I haven’t yet met some of the Q-Soft folks, so I’m very much looking forward to that. Things are going to start happening pretty fast, and it’s all good.
We intend to be what we’ve always been; smart and nimble, delivering great solutions to our customers. We’re going to be great together. I can feel it. Beginning today, with Isaac’s presentation, I’m sure you all will too!
Thank you all for being part of the Vertican team. I look forward to exciting times together.
Very truly yours,
Stevan H. Goldman, President and CEO
Vertican Technologies, Inc.