Yet more awards for Garanti Bank.
Within the scope of the international Treasury Today Adam Smith 2009 awards, Garanti Bank and Mercedes-Benz Türk have received the Best Application and Innovation award in the "Working Capital Management" category with the inventory financing solution, developed specially for Mercedes by Garanti Bank.
The winners of the Adam Smith awards, granted by one of the leading publications of the business world Treasury Today, received their awards at the ceremony held in London on Thursday, June 18th 2009. Developing need-oriented solutions instead of standard products and services for its corporate customers' cash management needs, Garanti Bank has once again demonstrated its strength in the area of cash management by becoming the first Turkish Bank to be bestowed with this award.
Commenting on the subject, Garanti Bank CEO Ergun Özen said "As Garanti Bank, by listening to our customers' needs, we are developing solutions that best suit them. We have created a significant difference in the corporate solutions area with our flexibility. This award that we have received for the company-specific inventory financing solution, developed through our concerted collaboration with Mercedes, has proved that we are the best bank in Turkey in the cash management area as in many other areas. We are working towards widely promoting the inventory financing solution which we have developed as a first in Turkey in line with Mercedes' needs, providing significant advantages to the main company and its dealers. We will continue to listen to our customers and develop creative and innovative solutions to make their lives easier with our experienced expert staff."
Mercedes-Benz Türk Marketing and Sales Director Süer Sülün said "In the formation stage of inventory financing which we have implemented as a first in Turkey, we knew that standard products that are being used in the sector would not meet our needs. Thanks to our collaboration with Garanti Bank, we have saved our dealers from having to search for inventory financing. Furthermore, a significant operational advantage was achieved in both Mercedes-Benz Türk's and our dealers' operations. It is clear from today that daily needs in the future will encourage us in building different systems in the working capital management and financial supply chain areas. Our strategic goal is to develop a dealer organization that focuses on their business and customers and primarily accentuate customer satisfaction."
Garanti Bank – Mercedes-Benz Türk Inventory Financing Project
With the Inventory Financing Project, developed specially for Mercedes by Garanti Bank, Mercedes-Benz Türk dealers with extended inventory times get the opportunity to obtain cost-effective loans in a fully electronic environment for payments they will make to Mercedes against the vehicles in their inventories. Due to the project, while Mercedes minimizes its receivables risk by reducing operational burden, the dealers, conveniently conducting their loan transactions via Garanti Online Banking, reduce their working capital needs.
June 23rd, 2009