GOLD AWARD WINNER

Sun Microsystems

What's the expression? Many hands make light work? Sun Microsystems would agree when it comes to the Sun treasury's Process Excellence Cash Management, a project that encourages all parts of the business to work on improving cash flow. Navneet Govil, an assistant treasurer, says Sun reduced its cash conversion cycle to 40 days as of the fourth quarter of fiscal year 2004, down from 52 days in the fourth quarter of 2002, and freed up $540 million of cash.

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