Working capital management is a topic that needs to be worked on across all departments, as e.g. both sales and procurement determine key influencing factors when negotiating payment terms.
Working capital management needs to be worked on across departments and staff involved need to have a basic understanding of how their actions influence working capital. It is important to define KPIs from the outset, if working capital management is to be successful, and they need to be specified for each department in turn. A management model supported by the right tools that enables continuous transparency in every area can help with achieving the goals that have been set.