Of all the companies to win their individual categories, Vodafone stood apart from the field. Judges scored it consistently high in all the key areas – success-defined objectives, internal alignment and innovation, and it was ahead of the pack when it came to supplier onboarding.
Most notable about the programme, however, was the fact that it ensured that supply chain finance was available to all of its suppliers. “A unique funding instrument,” said the judges. “A huge step up compared to its previous supply chain finance programme.”
Previously, Vodafone used just a single-bank platform which suited its larger suppliers, covering some $6bn of spend. With the additional SCF programme rolled out with Taulia, the total amount of spend covered by SCF is $10bn, globally. By offering competitively-priced financing options, it helps makes Vodafone a ‘customer of choice’ for its suppliers. The programme even offers free-to-use e-invoicing tools.
Almost two-thirds of suppliers to whom it has been offered so far have adopted the programme. “The scalability is enormous and gives SMEs easy access to early payment,” the judges said. “We like how everything is optional rather than required.”