At the ACT’s first Working Capital Management Conference (WCM), held in London in early September, more than 220 delegates heard presentations on issues ranging from driving sustainable approaches to WCM to supply chain finance to gaining support and buy-in for working capital issues at board level.
Speakers and delegates discussed innovations in WCM, the role of cash forecasters in the business and the merits of making cash generation a bonus target for managers and executives.
The event was a great success and speaker Philip King, Chief Executive, Chartered Institute of Credit Management, had this to say:
I was struck by the consensus that management of working capital is a team sport. Treasurers can set the strategy and produce the blueprint but the whole business has to be involved and committed to bring it to a successful fruition. It’s the day-to-day business activity that determines whether or not plans are successfully delivered and objectives achieved.
- check out Philip’s conference blog for more
The conference polled delegates on WCM’s role in their businesses. While a number of speakers argued that cash management and cash generation was a team effort, results from delegate polls suggested that its profile and perceived purpose varied from one firm to another. When delegates were asked what the highest priority for effective WCM was within their business:
Some 59% of delegates said that a reduced funding availability was the factor most likely to increase their organisation’s focus on working capital.
Whatever the motivation - operational, tactical or strategic - and whatever the effort, there’s no doubt that treasurers, credit managers and finance managers of all stripes need to be on their game!
