Company: IBM, Armonk, NY
Company Description: IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. IBM helps its clients capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to its clients.
Nomination Category: Sales Awards Team Categories
Nomination Sub Category: Sales Support Team of the Year - Business Services Industries
 Nomination Title: Leading Cash Collection through Operational Excellence
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the achievements since July 1, 2022 of the nominated team, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below.
- Briefly describe the nominated team: its history and past performance (up to 200 words):
Total 189 words used.
IBM Quote to Cash (Q2C) is an organization under IBM’s Finance and Operations business unit to provide pre- and post-sale support to IBM sales team including quotation, contracting as well as invoicing and cash collection.
An effective cash collection is a top business priority for any company. For IBM, it’s the foundational element of the business strategy as it enables sufficient investment in building ecosystem around hybrid cloud and AI to better help our clients in their digital transformation.
Greater China Group (GCG) Q2C AR (Accounts Receivable) team plays a vital role in achieving healthy cash flow through monitoring AR, efficient cash collection and proactive risk assessment. Over the past 1.5 years, in collaboration with business teams, and especially the Finance, the AR team has been dedicated to creating a win-win relationship with the seller and the clients for a healthy business ecology through driving positive cash flow. They’ve been transforming their way of working, leveraging new technology to accelerate payment and collection process to maximize the cash collection, to reduce the bad debt risk and to maintain healthy financial situation for both the company and the clients.
- Outline the team's achievements since July 1 2022 that you wish to bring to the judges' attention (up to 250 words):
Total 250 words used.
To be successful in its operations, the team has set the strategy of “help and assist” to the sellers and clients on collection and payment instead of “drive or push”, thus created a collaborative environment. They’ve gradually changed the seller’s mindset about cash collection, taking it as a good opportunity to seek client’s feedback on their delivery, which in-turn has largely improved the client’s satisfaction. When there is a constructive relationship, the clients are more willing to cooperate and pay on-time in return.
To better support the cash collection process, the team made it important to invest time into expanding their skills beyond invoice and cash management to upfront bidding, contracting and tax to better understand the business needs. The team also established a tailored support structure with a focus on specific brand or sector, allowing them to provide efficient and dedicated support facing various business challenges.
The team led the effort in digitization of the AR management in PRC. The team launched a unique to the China market e-chop payment notice, which replaced traditional paper payment notice with manual chop and automated the release directly to clients' mailboxes. The automation enabled swift invoice delivery and brought our clients onboard their own digitalization of payment process. This is a revolutionary step ahead in PRC where the manual chop on official document is still largely honored and it took quite a lot of efforts to get the customers accept it, recognize its benefit and adopt it in their own payment system.
- Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the team's past performance (up to 250 words):
Total 188 words used.
The payment to the company is never anyone’s personal matter, yet the GCG Q2C AR team handle the business as if it is their own. They position themselves not just as a cash collector but stand on the same side with the sellers and the clients to assist them on their business needs. As a team working at the very end of the transactional cycle, they break the limit of job scope, demonstrating strong flexibility through skill-set expansion, building trust with the client and acting as a problem solver and a helper.
The team maximized their power of influence and managed to set up a healthy business environment and bring their clients onto the journey of digital transformation of payment process. They’ve changed clients’ payment behavior and generated positive cash flow for the company as well as client’s credit level improvement, and thus accelerated business cooperation between clients and IBM.
The team’s restless efforts have been paid off with clearance ratio of the account payables improved YTY from 58% to 88% and constant improvement in DSO results. The team beat DSO targets for 3 consecutive quarters in 2023.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
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