Swiss Post and PostFinance have presented the Swiss WCM Award for the fourth time. Two companies were awarded the prize for their pioneering role in different service fields relating to working capital management.
Fourth Swiss WCM Award presented
Working capital management (WCM) allows companies to optimize their liquidity and inventories. It also improves the processes of accounts payable, accounts receivable and cash management. Resources and capital employed can be managed selectively. WCM has become far more significant for companies in recent years due to the difficult market environment and is now more topical than ever, despite low and in some cases negative interest rates.
The Swiss WCM Summit is the specialist WCM event in Switzerland, and was held on 20 September in Zurich. A large number of participants from various sectors followed a panel discussion featuring major Swiss business figures at the event. There were also inspiring specialist talks, which provided insights into how companies such as Roche and KBC Bank NV successfully implement WCM approaches.
Comprehensive WCM study on digitization
In order to investigate the current performance levels of Swiss companies and public entities in WCM, PostFinance and the University of St. Gallen carried out a WCM study for the fourth time.
The current study focuses on the opportunities digitization provides in WCM, and was presented to the public for the first time last Wednesday. Alongside the most important WCM key figures, companies can also find solutions in the form of actual case studies. These show for example how ABB was able to reduce its stocks thanks to streamlined processes and just-in-time delivery, and how Roche was able to bundle financial flows, processes and taxes using an in-house bank.
Swiss WCM Award presented
Swiss Post, PostFinance and the University of St. Gallen’s Supply Chain Finance Lab confer the Swiss WCM Award for exceptional overall performance in WCM (in the “Performance Excellence” category), as well as for innovative WCM concepts (“Innovation” category). The winners of the Swiss WCM Award were selected by a top-class, independent jury. The jury included the CFOs of leading Swiss companies from a variety of sectors.
The award in the “Performance Excellence” category was won by Swiss Federal Railways (SBB). SBB received the prize for launching a comprehensive, in-depth analysis covering all the Group units in order to define levers for WCM, from which it derived a catalogue of WCM optimization measures.
The jury awarded the prize in the “Innovation” category to CRX Markets. The company provides an independent market place for asset-based financing solutions, and in doing so has revolutionized the financing of supplier receivables.
Solutions from Swiss Post
Swiss Post’s WCM services include the financial, logistics and process-related aspects of WCM. Swiss Post implements these solutions by using integrated services from PostFinance, PostMail, PostLogistics and Swiss Post Solutions.
The next Swiss WCM Summit will be held on 19 September 2018.
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