November 29, 2019
The Supply Chain Finance (SCF) Awards showcase companies’ achievements in demonstrating best practice and innovation in supplier finance. Announced on 28th November at a presentation ceremony at Amsterdam’s Beurs van Berlage, this year’s SCF Awards brought double success for Taulia’s clients, with Airbus and Sasol both recognized for their considerable achievements.
Airbus not only received the category award for Transport & Logistics, but also took the Gold Award for the category-winning entry that best demonstrates SCF in action. The company’s success was richly deserved, not least because this ambitious project saw Airbus adopt a supply chain finance program that could in time be scaled across the company’s entire supply chain.
Since implementing the program, Airbus has made billions of dollars available in early payments to thousands of suppliers. The success of the project was supported by proactive measures taken by Airbus to align major stakeholders on the project, as well as by Taulia’s highly streamlined supplier onboarding process.
Sasol, meanwhile, was named the winner in the Manufacturing & Industrial category. Seeking to replace manual discounting processes and provide additional liquidity for SME suppliers, the integrated chemicals and energy company had adopted a technology-enabled dynamic discounting program provided by Taulia. As a result, the company’s early payment discount program has been scaled from 150 suppliers to almost 3,500.
In addition to capturing remarkably more early payment discounts, the program has also brought significant efficiency gains. While a team of 12 had previously been needed to handle supplier phone calls, this has been reduced to a single employee, with the others redeployed to value-adding tasks.
“This was a great night for Taulia’s clients and I am delighted to congratulate Airbus and Sasol for their achievements,” said Michael Rieskamp, Managing Director of Europe, for Taulia. “Both projects demonstrated a clear commitment to best practice and innovation, and their success is well deserved.”
Note for editors: Taulia is a leading provider of working capital solutions headquartered in San Francisco, California. Through a unique combination of its AI-powered platform, people and process, Taulia helps companies access the value tied up in their supply chain by transitioning from inefficient and often manual working capital management practices into technology-led, working capital optimization strategies. Taulia’s vision is to create a world where every business thrives and by enabling buyers and suppliers to choose when to pay and get paid, it liberates cash across the supply chain. A network of 1.8 million businesses use Taulia’s technology and the company processes over $300 billion every year. Taulia is trusted by over 120 of the world’s largest companies with clients including Airbus, AstraZeneca, Nissan, Telstra, the UK Government’s Crown Commercial Services and Vodafone. Achieving revenues of $48.8 million in 2018, the company is featured in the 2019 Inc. 5000 list of the fastest-growing private companies in the U.S.