ETR Digital Wins Working Capital Innovation Award for Working Capital Notes™

The award recognises ETR Digital’s development of Working Capital Notes™ and their potential to deliver faster, more efficient working-capital finance for buyers and suppliers.

ETR Digital has been named a winner in the Working Capital Innovation category at the 2025 Working Capital Awards.

Presented in Amsterdam on 24 November 2025, the Working Capital Awards recognise best practice and innovation across the global working-capital community. Entries are assessed by an independent panel of experienced treasury and working-capital professionals.

ETR Digital received the award for the development and promotion of Working Capital Notes™, which are being deployed in supply-chain and working-capital finance programmes.

Turning innovation into practical value

Working Capital Notes™ were created to address persistent challenges in global supply chains.

Traditional working-capital finance can depend on complex onboarding, fragmented systems, and document-heavy processes. These limitations can delay access to funding, increase operational costs, and make it harder for businesses to use the liquidity already embedded in their trade flows.

Working Capital Notes™ provide a digital alternative based on established negotiable instruments, including bills of exchange and promissory notes. They convert verified trade obligations into secure, transferable digital instruments that can be issued, accepted, financed and settled through a controlled workflow.

For suppliers, this can provide earlier access to cash tied up in receivables. Buyers can maintain payment terms suited to their operating cycles, while banks and other liquidity providers gain access to transparent, auditable instruments.

The award reflects ETR Digital’s progress in moving this model beyond the theory of innovation and into real working-capital applications.

Recognised for speed, security and accessibility

The Working Capital Forum judges highlighted several practical benefits of ETR Digital’s approach.

Digital execution allows businesses and financing providers to approve and transfer Working Capital Notes™ electronically, reducing processes that may previously have taken days or weeks. The structured digital lifecycle also supports clearer audit trails, stronger transaction visibility and more efficient administration.

The judges additionally recognised ETR Digital’s work in helping organisations understand the legal, accounting, technical, risk and sustainability considerations surrounding digital negotiable instruments.

That combination of technology, education and implementation support has been essential to making a new approach accessible to treasury teams, suppliers and financing partners.

A shared achievement

This recognition also belongs to the customers and partners who supported Working Capital Notes™ before digital negotiable instruments were widely understood.

Their willingness to explore a different approach, test it against real business requirements, and deploy it within working-capital programmes has played a central role in developing the model.

ETR Digital is grateful to every organisation that has helped shape and adopt Working Capital Notes™, as well as to the Working Capital Forum judges for recognising the progress achieved.

Expanding access to working-capital liquidity

Following the award, ETR Digital will continue expanding access to faster, more cost-effective, and secure alternatives to traditional working-capital finance.

The objective remains helping businesses release liquidity from existing trade flows without unnecessarily disrupting commercial relationships or replacing established treasury and ERP infrastructure.

For organisations facing cash-flow pressure across their receivables or payables cycles, Working Capital Notes™ offer a practical way to make payment obligations more transferable, transparent and financeable.

Learn more about Working Capital Notes™ and how they could support your organisation’s working-capital strategy.