Caterpillar 2011 Annual Report Download - page 43

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Financial Products & Corporate Services 43
WHAT THE WORLD NEEDS | 2011 YEAR IN REVIEW
Chairman’s
Message
Construction
Industries
Customer &
Dealer Support
Financial Products &
Corporate Services
The Caterpillar
Foundation Leadership Performance
Resource
Industries
Energy &
Power Systems
Business Expansion Announcements
• New retail nancing for Caterpillar Financial Services Corporation was $11.32 billion,
an increase of $1.9 billion, or 20 percent, from 2010.
• Cat Financial portfolio performance improved, with past dues and full-year write-offs
at their lowest levels since 2008.
• Cat Financial launched an e-Signature tool for paperless loan documents to provide
customers with a quick, secure, convenient and sustainable way to process documents.
• Collaboration efforts from many areas of Caterpillar to innovatively improve working
capital and cash flow were recognized as best practices. Caterpillar was recognized by
Treasury & Risk magazine and the Association for Financial Professionals for excellence
and innovation in treasury management and finance, its sustainable focus on working
capital improvement, and the funding of the Bucyrus acquisition with no equity.
• During our rapid growth in 2011 with new facility start-ups worldwide, production
increases and the addition of thousands of new employees, Caterpillar was
able to achieve a 13 percent improvement in our safety results.
• More than 7,000 Caterpillar leaders participated in leadership development programs
that provide leaders the tools to build high-performing teams and execute the strategy.
• Caterpillar continued deployment of common global systems to support growth in
manufacturing and achieve improved inventory turns, improved labor utilization, and
better supply chain visibility and management. By the end of 2012, approximately
25 percent of enterprise sales and revenues will be on the strategic platform.
• As machine volumes have grown dramatically from 2009 on, Caterpillar suppliers have
responded. Global Purchasing orchestrated the ramp-up of a supply base that in some
cases saw demand grow by 300 percent or more.
• Global Purchasing led supplier recovery efforts after a devastating tsunami hit
Japan. The team worked with the supply base to install back-up generators and
identified alternate sources for critical parts, ensuring severe business disruption
was avoided.
2011
Highlights
Financial Products &
Corporate Services