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White Paper Describes Methodologies to Optimize Working Capital

Published: Monday, April 19, 2004 - 22:00

Aceva Technologies Inc., a developer of working capital management solutions for global enterprises, has increased use of Six Sigma methods by its enterprise clients seeking to improve financial process work flow to optimize working capital management.

To document its work, the company has released an executive research paper chronicling the effort, "Six Sigma Methodologies to Optimize Working Capital Management." The paper notes that as a strategy for securing business process improvement, Six Sigma has been proven to free up working capital for strategic investments. Six Sigma creates clear and measurable deliverables and produces high rates of process improvement in quote-to-cash, vendor manage inventory, procure-to-pay and working capital life cycles.

"Forward-thinking financial executives view the management of working capital performance as a critical measure of overall operational soundness," explains Allen Silberman, partner at Quote-to-Cash Process Consulting and past global credit director at Honeywell Corp. "Aceva has demonstrated an impressive level of leadership by enabling companies to examine the quality of all processes in the financial supply chain. This examination involves many disparate systems and processes including pricing and terms policies, order accuracy, product delivery and returns, billing, credit and collections."

"As the need to unlock more working capital accelerates in today’s business environment, process improvement techniques to reduce days of outstanding sales and other measures of the financial supply chain cycle become more critical," says Sanjay Srivastava, COO of Aceva. "Toward this end, Six Sigma methodology and the Aceva platform are helping global companies measure and ensure quality in all areas of the enterprise, including the identification and rectification of inefficiencies and problems throughout the financial supply chain."

The white paper is available from Aceva by clicking here.

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For 38 years Quality Digest has been the go-to source for all things quality. Our newsletter, Quality Digest Daily, shares expert commentary and relevant industry resources to assist our readers in their quest for continuous improvement. Our website includes every column and article from the newsletter since May 2009 as well as back issues of Quality Digest magazine to August 1995. We are committed to promoting a view wherein quality is not a niche, but an integral part of every phase of manufacturing and services.