Press Releases

VICOR ‘Customer Support Services Group’: New Industry Standard for Delivering Superior Project Management and Client Technical Support

VICOR Veteran Jack Mangan Appointed Vice President, Client Support Services

Contact: Mike Dignen
VICOR, Inc.
610-524-5950 or mdignen@vicor.com

RICHMOND, CA, March 8, 2004 – Extending its rich customer services resources, VICOR, Inc., the leading provider of image-based lockbox and receivables management solutions, today announced the introduction of its Customer Support Services Group. Dedicated to delivering superior project management and client technical support, the Customer Support Services Group offers an extensive program designed to build on VICOR’s mission to deliver flexible, high-performance image solutions that offer significant value, power and reliability.

Underscoring its commitment to its expanded client support resources, VICOR announced that company veteran Jack Mangan has been appointed to the newly created position of vice president, client support services, within the new group. A key VICOR executive since 1995, Mangan most recently served as vice president, national account management. In his new role, Mangan will report to Steve Westmoreland, VICOR senior vice president of support operations, and be responsible for project management and customer technical support.

“With the formation of our Customer Support Services Group, VICOR has raised the bar for delivering integrated, comprehensive lockbox and receivables solutions with the service and support resources necessary to speed implementation and deliver greater value to our clients more quickly,” said Westmoreland. “When combined with our industry-leading software solutions, the new group positions VICOR to provide an unrivaled receivables offering.”

“The dynamics of the lockbox and receivables market are changing dramatically. Ever-increasing competition and the need to speed A/R posting and eliminate ‘information float’ are resulting in extraordinary pressure for users to maximize IT system resources and ensure continuous operations,” said Bob Kirk, VICOR president and COO. “Our new Customer Support Services Group strengthens our ability to bridge the gap between technology and an intimate understanding of our customers’ business needs to create real value and results.”

About VICOR, Inc.

VICOR is a leading provider of image-enabled receivables processing and management solutions. The company’s flagship product, RIDS (Receivables Information Delivery System), is the first payment processing and cash management platform to offer full color images and intra-day delivery of receivables information via the Internet and other publishing options. Currently installed in 22 sites, RIDS processed over 100 million transactions in 2003, representing more than $1.2 trillion. VICOR is headquartered in Richmond, CA, and is privately held. For more information, call 510-621-2000.