Proformative, a leading community of CFOs, today recognized AT&T and CFO John Stephens with its award for the 2013 Most Effective Finance Organization. The award honors the finance organization that has led its company to the highest levels of performance in risk management and/or top line growth while maximizing the productivity of every team member and exhibiting exemplary personal and professional traits.
AT&T has been recognized for its ambitious plan to increase cash flow by reducing the company’s working capital requirements. The finance organization has led this effort by collaborating with groups across all of AT&T. Led by a commitment from John Stephens, managing working capital is now ingrained in AT&T’s culture. As a result, AT&T has already reduced working capital by more than 35 percent. And by the end of 2013, the company expects to reduce working capital by a total of more than 50 percent from its 2011 starting point.