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Supply Chain Now
Key Findings from TCU’s Working Capital Report
Aug 23, 2023
Dan Reeve, VP of Sales at Esker, and Morgan Swink from TCU share key findings from the Working Capital Report. They discuss tactics to improve working capital, outcomes after improvement, and macro-level challenges. The hosts also explore the residual effects of COVID-19 on supply chains and highlight the importance of strong supplier relationships.
01:02:29
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Quick takeaways
- Improving working capital processes leads to cost efficiency, staff retention, and enhanced customer and supplier experiences.
- Companies should adopt automation and technology to reduce errors, improve efficiency, and enhance overall operational performance.
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Benefits of Improving Working Capital Processes
Companies are expecting several benefits from improving their working capital processes. First, they hope to improve cost efficiency by reducing labor and errors, allowing for more accurate and efficient processes. Second, businesses are aiming to enhance staff retention and job satisfaction by upgrading clerical tasks to more analytical and strategic ones. Third, organizations are focused on improving the customer and supplier experience, streamlining interactions and building stronger relationships. Finally, companies that automate their accounts payable and receivable processes have seen an increase in liquidity, providing them with more financial flexibility.
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