2014 marks the seventh anniversary of Treasury Today’s Adam Smith Awards which are now recognised as the industry benchmark for corporate treasury achievement globally. The programme goes from strength to strength.
The yearbook summarises the winning and highly commended corporates as short case studies. A number of these will be presented in more detail in a series of corporate Adam Smith Webinars later this year and into 2015.
Each May, our judges convene to undergo the extremely difficult task of examining and shortlisting the many entries and then finalising their decisions. This years’ Top Treasury Team is the Pfizer treasury based in Dublin and New York.
The most popular categories were Best Cash Management, Best Process Re-engineering and Best Working Capital/Financial Supply Chain/Accounts Payable/Accounts Receivables solutions. No doubt a reflection of what has been on the agenda for many of you over the past 12-18 months.
The case studies demonstrate that the responsibilities of treasury continue to expand and almost half of all entries were defined as global in their geographic dimension. Most of the benefits of the projects have accrued as impressive cost savings, productivity gains, process efficiencies and risk mitigation; again illustrating where your priorities lie.
Our judging panel decided to introduce a new category this year – Middle East Regional Award for Best Practice. This recognises the number of entries that we received which address issues specific to this important region. There are some innovative solutions reported in this category.
