REL: CFO Europe, ``Money Mechanics''
July 20 2007 - 12:02PM
Business Wire
It�s been a record-setting year for working capital management in
Europe. Despite challenging conditions, the three-man team driving
an Audi R10 sports car won the Le Mans 24-hour motor race in June,
giving the German carmaker its seventh title in eight years. Even
without the crash helmets, Europe�s finance chiefs have a similar
victory to celebrate when it comes to a task that can be as
gruelling as the legendary French endurance race. Last year, the
1,000 largest listed companies headquartered in Europe achieved
their best working capital performance in some time, as the average
number of working capital days reached a five-year low. Excluding
carmakers, whose large financing arms skew the data, European days
working capital (DWC) fell to 45.2 in 2006, 6.6% lower than the
previous year, according to REL, a research and consulting firm
which compiles the data for CFO Europe�s annual scorecard. This
article provides in-depth coverage of findings from REL's annual
Total Working Capital Survey of Europe's top 1000 companies. Click
Here to Link to Full Text of Article or visit the following URL:
http://www.cfoeurope.com/displaystory.cfm/9395621/l_print. A
detailed REL analysis of the survey findings is also available
online (with registration) at: www.relconsultancy.com/twcEU. About
REL REL (NASDAQ: ANSR) is a world leading consulting firm dedicated
to delivering sustainable cash flow improvement across business
operations. REL�s tailored solutions balance client trade-offs
between working capital, operating costs and service performance.
REL�s expertise has helped clients free up billions of pounds in
cash, creating the financial freedom to fund acquisitions, pension
liabilities, product development, debt reduction and share buy-back
programs. In-depth process expertise, analytical rigour, and
collaborative client relationships enable REL to deliver an
exceptional return on investment in a short timeframe. REL has
delivered work in over 60 countries for the Fortune 500. REL is a
sister company of The Hackett Group, a global strategic advisory
firm is a leader in best practice research and advisory programs,
benchmarking and transformation consulting services including
shared services, offshoring and outsourcing advice. More
information on�REL is available: by phone at (770) 225-7300; by
e-mail at info@relconsultancy.com; or on the Web at
www.relconsultancy.com.
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