Nominations for Treasury Today’s prestigious Adam Smith Awards close on 30th April 2010. This means there are only six weeks left for you to submit your entry.
We have already received an incredible number of nominations for these Awards for Best Practice and Innovation, but there is still time for your solution, or treasury team, to make it into pole position. We welcome entries from companies of all sizes, industries and geographies.
As the leader of Honeywell’s Treasury organisation, I constantly look for ways to think about and improve our core treasury processes to make them ‘world class’. By participating in the Adam Smith Awards we are able to competitively benchmark our progress against some of the best companies in the world, while motivating our team members with the external recognition needed to build successful careers. The recognition that Honeywell Treasury received through the Adam Smith Awards is an invaluable tool, enabling us to become a consistently better Treasury organisation.
John J. Tus, Vice President and Treasurer, Honeywell International Inc. Winner, Treasury Today’s Top Treasury Team 2009
Do you have what it takes to be a winner? Submit your nomination today.
How to enter
Details of the Adam Smith Awards 2010 and a nomination form are available at www.treasurytoday.com. The short nomination form should take less than 15 minutes to complete.
If you are a corporate treasury professional and would like to be considered for one or more Awards, please apply using the online nomination form.
If you are a bank or other service provider you can nominate your customers or assist them in applying directly.
Shortlisted companies may be asked to provide additional information where appropriate. The Awards will be announced at the Treasury Today 2010 Adam Smith Awards Lunch in London on 17th June 2010. Winners will be advised in advance. If you would like any more information, please do not hesitate to contact us at: firstname.lastname@example.org
Submissions will be considered from the corporate treasury perspective, and the basic criterion for the Awards is that they evidence best practice and/or innovation as demonstrated by any of the following:
Outstanding cost savings.
Above average ROI.
Optimal account/treasury structure.
Quantitative improvements in efficiency.
Cutting edge technology.
Exceptional implementation (budget/time).
Deals may be in any currency/country/region and only deals being implemented between 1st January 2009 and 30th April 2010 will qualify.
Bank Relationship Management
Managing bank relationships is a delicate task at the best of times. Perhaps you have introduced a new RFP/bank selection process or had to innovate to maintain credit lines? Has the crisis made you look again at bank charges, bank account analysis, managing mandates and the use of digital signatures or other new software? This category covers all aspects of the corporate/bank relationship.
Global Liquidity Management
From visibility of data to maximising returns on surplus cash positions, the winning solution could be a simple cash reporting process or a new hybrid solution. It could be mono or multi bank. It might involve a special purpose vehicle, in-house bank and/or innovative account structure. Any global liquidity management solution is eligible for this Award.
Working Capital Management/Financial Supply Chain
Has supplier finance come onto your radar this year? Is electronic invoicing your new pet project? Whether involving order-to-cash, purchase-to-pay or forecast-to-fulfilment, this category recognises the key processes in any business.
Payables and/or Receivables Solutions
Have you recently joined the SWIFT for Corporates model, established a payments factory or a shared service centre? Whether single or multi-currency, domestic or cross-border, the winning solution could cover any aspect of accounts payable and/or accounts receivable.
Outstanding Insourcing or Outsourcing
Every treasury needs to strive for continuous improvement. This often results in a review of processes that can be carried out in-house or equally conducted externally. The winning solution in this category could cover any process, task or activity within corporate treasury which has benefitted from an in/outsourced solution.
Best Card Solution
No longer just a piece of plastic, corporate cards are becoming an integral part of the cash management set-up. Have you implemented a new card programme to achieve increased control and visibility? The winning solution could cover any aspect of corporate cards from improving the richness of procurement data to minimising the risk of fraud.
Best Corporate Debt Solution
With sources of credit still squeezed, corporate bonds have made a comeback in recent months. Has your company issued commercial paper or bonds? Have you investigated new instruments and/or currencies to help cope through the crisis? Whether relating to a single transaction or a part of a company’s overall debt strategy, this category is open to all types of funding.
Effective Risk Management
A category close to every treasurer’s heart, the winning solution could relate to any aspect of risk within the corporate treasury arena. Have you changed the way you control foreign exchange risk, counterparty risk, interest rate risk and more? Has the crisis opened your eyes to new risk management solutions?
Specifically targeted at SME/MMEs this category recognises that the company does not have to be a major multinational to be considered for an Award. This could include any aspect of the treasury/cash management arena where innovation and/or best practice can be demonstrated.
Harnessing the Power of Technology
Technology spend has suffered significantly from budget cuts, but has your treasury department been one of the lucky ones? Have you installed a new TMS or ERP system? Or have you leveraged your existing technology to support the cash management, process or supply chain solutions? Any form of technology deployed within the corporate treasury/finance function is eligible for this Award.
Best SEPA Solution
The SEPA Direct Debit has arrived. Has this changed your company’s outlook on SEPA? Have you implemented a SEPA solution or changed processes, systems or service provider(s) to respond to the new SEPA environment? Covering all aspects of SEPA, including the SCT (Credit Transfer), this Award salutes the early adopters of this initiative.
Treasury Today in China
The global financial crisis has afforded China the opportunity to prove its economic resilience and independence in the international arena. For treasurers in China, it has meant dealing with increased concerns over liquidity and risk alongside an intricate regulatory environment. The winning solution could be a response to these contemporary challenges or may address more fundamental treasury conundrums.
‘One to Watch’
Intended to capture an idea in the pipeline, this category is for those grand designs which demonstrate the potential for best practice and/or innovation within the treasury/finance function. From audit and compliance to green solutions such as banishing paper cheques, do you think you are on to a winner?
Treasury Today’s Top Treasury Team – an Award for overall excellence
Open to any corporate team that has made an outstanding contribution to its organisation, this Award recognises those who have made the world of corporate treasury that much better. This could be purely the treasury team or a broader team effort involving different disciplines within a company.