In recent years, Vodafone has made significant investments in innovative technology to unlock working capital for their business needs and to support their vast supplier ecosystem. By leveraging today’s best-in-class working capital optimisation tools, Vodafone has aligned their commercial objectives with the health of their suppliers to build strong, mutually beneficial relationships, free up cash, and eliminate inefficiencies.
Graham Taylor – Treasury Manager, Commercial Treasury at Vodafone:
“Now we can offer our suppliers a complete end-to-end process, from when they’re submitting their invoices, all the way through settlement. Because Taulia is free for suppliers, and we like the technology so much, it has been mandated in a lot of our markets and has been successful. The suppliers like it as well.”
CHALLENGES
- Previous bank-led SCF program did not address ALL suppliers in network??
- Complicated onboarding process, not electronically based
- Suppliers lacked visibility into payments process
- Need for a solution with user-friendly interface, seamless integration into existing workflow and NO supplier fees
RESULTS
- Enrolled over 12,400 suppliers
- Extended $6.1 billion program to $10 billion within just 9 months of program launch
- Accelerated payments by 51 days on average
- Successfully on-boarded Huawei, one of the largest suppliers
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