Mid-sized companies globally are transforming working capital from a defensive buffer into a strategic growth engine, leveraging digital tools, artificial intelligence (AI), and card solutions to achieve an average of $19 million in savings, according to Visa’s third annual Growth Corporates Working Capital Index.
The 2025-2026 Index, which incorporates insights from over 1,400 CFOs and Treasurers across 10 industries and 23 countries, identifies two key finance leadership profiles. Adaptable Accelerators utilize working capital solutions (WCS) to address immediate, short-term needs, manage volatility, and capitalize on emerging growth opportunities. This segment’s global use of corporate cards for opportunistic working capital has tripled year-over-year, with finance leaders 64% more likely to deploy these solutions for unplanned growth. In Asia Pacific, opportunistic WCS usage increased from 5.6% to 9%.
Strategic Planners, in contrast, perceive working capital as a tool for expansion, capital investment, and strengthening supplier relationships. These seasoned finance leaders are 32% more likely to have extended tenure and frequently reinvest over half of their working capital savings into product and service innovation. In North America, the proportion of firms acting as Strategic Planners nearly doubled in two years, rising from 18% to 33%.
Lauren Hewings, Visa’s Head of Working Capital Solutioning, commented, “Our 2025-2026 Index underscores that working capital management is no longer defensive. Finance leaders are unlocking an average of $19 million in savings, while accelerating supplier payments and transforming receivables—and they’re doing it by tapping corporate and virtual cards combined with AI-powered insights, turning working capital into a decisive growth lever.”
Middle-market organizations are actively putting capital to work, unlocking an average of $19 million by expediting supplier payments, negotiating more favorable terms, and optimizing inventory management. In 2025, 58% of Growth Corporates adopted generative and agentic AI for forecasting, workflow automation, and supplier onboarding. This integration has led to a tripling of cash flow visibility since 2023 and yielded 66% greater savings through these solutions. Europe leads globally in AI adoption for working capital optimization, with 65% of firms now using AI-enhanced forecasting and cash management tools. Across regions, Index scores continue to improve; North America’s score climbed from 51% in 2023 to 55% in 2025, while cash flow uncertainty in the region significantly dropped from 21% to 3.7%.
Corporate and virtual cards are serving as strategic instruments to mitigate the impact of delayed receivables, which cost firms an average of $18 million annually. Currently, 53% of CFOs and Treasurers employ these card solutions to reduce Days Sales Outstanding (DSO) and accelerate cash flow. Over 60% of firms in North America and Europe utilize cards for faster settlements, streamlined workflows, and enhanced transaction data.
Experience plays a significant role in working capital strategy. Veteran CFOs are twice as likely to leverage virtual or corporate cards and 32% more likely to treat working capital solutions as a strategic growth catalyst compared to less experienced finance leaders. Organizations guided by Strategic Planners consistently outperform peers in efficiency, resilience, and investment in innovation.
Companies across regions are increasingly demanding simplified digital solutions for credit and account management, on-demand financing aligned with real-time cash flow cycles, and AI-powered forecasting coupled with deep sector expertise from their financial partners. The global loan rejection rate has risen from 4% to 27%, indicating that traditional banks may be lagging in providing the digital-first, tailored offerings that align with the speed, flexibility, and digital ambitions of middle-market firms. The findings signal a new era of working capital management marked by intentionality, agility, and innovation, driven by advanced technologies and digital payment solutions.
