2017 Europe Working Capital Survey 2017 Europe Working Capital Survey

Compare your working capital performance with top 1000 European companies in key industries and countries. The cash conversion cycle (CCC) slipped 3.6% last year among Europe's top 1000 nonfinancial companies while net working capital expanded. Download

Take Steps Now to Prepare for Higher Interest Rates

Companies have exploited low interest rates in recent years to bolster their financial position and increase spending. But with signs of higher rates ahead, defensive steps may be in order. Download

Using DSO to Measure Your Accounts Receivable Performance

Which key performance indicator (KPI) offers the best way to measure and monitor accounts receivable? It ultimately depends on your company's particular structure, culture and goals. Download

Seven Habits: Highly Effective Supplier Payment Practices

Companies can't always get paid when they would like to, but they can exercise control over when and how they pay their suppliers. Download

There's Still Time: 7 Ways to Release Cash by Year-End

It's not too late to positively impact your working capital by year-end. Your organisation can take steps now to release cash and also lay the foundation for a sustainable improvement trend. Download

Brexit and Working Capital Impact: How Should UK Companies Prepare?

For businesses in the United Kingdom, Brexit is already a source of uncertainty and anxiety. It is for this reason that they should take a deeper look into their working capital and bolster their cash reserves. Download

More Research Papers

Experts in working capital management

REL, a division of The Hackett Group, has helped many of the world's leading businesses release billions through process transformation that drives sustainable working capital improvements.

We focus on three critical end-to-end processes – inventory management, accounts receivable and accounts payable – that can improve cash flow management and service performance while reducing costs and business risks.

Working Capitalist newsletter

The Working Capitalist: Spring 2017 – Our latest issue of The Working Capitalist newsletter examines what it takes to sustainably improve working capital performance. It examines the performance characteristics and metrics associated with top performers and offers recommendations for where underperformers can begin to improve working capital performance.

   I was very pleased to have a team of such professional people working with me; they looked to identify and resolve issues from day one. REL are extremely professional and dedicated to delivering quality work.   
European Aeronautic Defence and Space Company
   We were impressed with the people of REL; impressed with how they explained the various concepts involved, their emphasis on knowledge transfer, and their collaborative, team-oriented approach. REL proposed an approach that involved Cytec in every aspect of the effort, rather than doing everything with Cytec personnel watching.   
Cytec Industries Inc.
   REL provided both an independent viewpoint and consistent approach - the same people were involved in both phases. The reporting was simple, basic and useful. I like that REL is a small, niche consultancy - they are experts. The differentiator (to other consultancies) is the personal approach that REL provides.   
Heineken Italia S.p.A
   With the pragmatic approach the REL consultants got to the heart of each process and introduced some real hand-on tools and solutions to improve communication on and execution of key-processes in NWC-management supporting change of mindset across management.   
Arcadis NV
   REL brings in good professionals, who roll up their sleeves and start working with local teams to make things happen. They have a hands-on mentality and a no-nonsense approach. They are not like typical consultants who only give you plans to follow.   

REL in the Press

Financial Director (UK), "It's time to get ready for quantitative tightening,"

Robert Haas, Senior Consultant, Working Capital Division, at The Hackett Group, discusses the need to prepare for changes in interest rates.

December 4, 2017

Beschaffung aktuell (DACH): "Deterioration of Performance in Germany"

In German. Article begins on page 7. The working capital performance of major German companies worsened in 2016: The 132 German manufacturing companies analyzed in the current study by REL, a division of The Hackett Group, had a cash conversion cycle (CCC) of 48.2 days on average in 2016, compared to 46.3 days in 2015.

November 6, 2017

Finanz und Wirtschaft, "Cheap Money Hurts Discipline,"

In German..."Paul Moody knows. As an associate partner of The Hackett Group's cash flow advisor REL, he not only knows all facets of working capital management and cash flow generation. With responsibility for Germany, Austria and Switzerland, he also looks into many companies in numerous industries. So, if he says that the results of the REL Working Capital Survey 2017 have disappointed him then this is serious.

November 3, 2017

Financial Management Network, "Benefits from an Improvement in Working Captial,"

Veronica Wills is featured in this half-hour video news segment.

November 1, 2017

Supply Chain Digest, "Supply Chain Inventory Performance 2017,"

Since 2005, I have been doing reporting and analysis on company and sector inventory levels based on the annual Working Capital scorecard that is compiled The Hackett Group. It is always one of our most popular columns of the year. But there have been a few twists over the years, and another one this year, as I am going to explain here.

September 9, 2017