Siemens Wins Gold at the 2018 SCF Community Awards
Last week in Amsterdam, Siemens was awarded top honors at the 2018 Supply Chain Finance Community Forum Awards receiving both the award for Supply Chain Finance Leader in the Manufacturing & Industrial Sector and the Gold Award for Best Supply Chain Finance Program. Siemens launched its first SCF Program with Orbian in the US in 2008 and extended it globally in 2010. Today, Orbian finances over 3,000 Siemens suppliers across more than 20 countries and 13 currencies.
What the judges said: “A very successful programme with a solid track record and an impressive number of suppliers on boarded. With the size of the company there is a high level of complexity. Transaction value of more than €3.5bn recorded in 2017 and the programme is not dependent on a single bank, even for suppliers with small purchase volumes.”
Ten years after the implementation, the Siemens SCF Program is still an example of success, excellence and best practice.