Activities

Oil Field Services

Revenue

$ 8.8 Billions in 2009

Human Resource

50,000 People in 100 Countries

Business Challenge

In the context of aggregate Days of Sales Outstanding (DSO) of 92 days and rising as of April 2009, Weatherford is seeking to increase case flow by reducing the working capital balance tied up in the global Order to Cash (OTC) process. The challenge is to improve invoice timeliness and accuracy to have a positive impact on DSO metrics.

Solutions

  • OTC Processes and Tools were Redesigned
  • A Cash Flow Awareness Training was Deployed Across Operations
  • The Billing and Invoicing Organization was Redesigned to Support New Process
  • OTC Performance Dashboard Implemented, with Varies Leading and Lagging KPI’s

Results

  • 7     17 Days of Sales Outstanding (DSO)
  • 13.5    10.5    11 Average Weighted Time Between Job Completion and Invoice Submission (in Days)

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