From the November 2009 issue of Treasury & Risk magazine

Gold AHA Winner in Working Capital Management

Financial executives have tried many ways to increase free cash flow and reduce working capital. DRS Sustainment Systems Inc. (SSI) in St. Louis, Mo., did it with a lot of help. The defense and aerospace contractor essentially enlisted its workforce in the effort by promoting a "culture of cash."

It was time for action. Between April 2007 and May 2008, SSI's working capital grew 41%, more than twice as fast as the 19% increase in its revenue. Free cash flow had fallen to just 78% of operating revenue, 13% below expectations.

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