Welcome
The Adam Smith Awards Asia programme is now in its fifth year. Across the world, an Adam Smith Award is recognised as the ultimate industry benchmark for corporate best practice. Our range of 2018 award categories is tailored to honour corporates across the Asia Pacific region for their strategies and achievements.
A record-breaking 221 nominations were submitted this year and our panel of judges had the exceptionally challenging task of selecting the very best solutions in each category, which showcase the region’s best and brightest and demonstrate exceptional innovation in Asia’s corporate treasury arena.
All Overall Winners and Highly Commended Winners, together with their participating banking and technology partners, were presented with exclusive crystal awards at the prestigious Gala Presentation Lunch at the Four Seasons hotel in Singapore on Thursday November 15th. The Adam Smith Awards Asia provides corporates across the region with a golden opportunity to significantly raise the profile of themselves and their treasury team and to demonstrate their thought leadership and innovation to the industry.
Categories
The Adam Smith Awards Asia recognise success, regardless of budget, geography or industry.
On the day
A celebratory Gala Presentation Lunch at the Four Seasons hotel in Singapore was held in honour of this year’s winners.
Winners
A full list of winners is now available.
It is a huge compliment and a fantastic achievement. I am especially pleased because it is for the team. I am very fortunate to have a great team that has been doing fantastic work for a long time and I am incredibly pleased that they are being recognised.
Damian Glendinning, Group Treasurer, Lenovo – Overall Winner, Treasury Today Asia’s Top Treasury Team 2017
Contact
If you have any questions, please email us.
2018 award categories
Treasury Today Asia’s Top Treasury Team 2018
Open to any corporate treasury team based in the Asia Pacific region
that has made an outstanding contribution to its organisation over the
past 12-18 months. 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
across the enterprise.
Best Cash Management Solution
Any solution which demonstrates how the company manages its cash is
eligible. It could be a simple single country/single currency/single
bank solution or multi-country/multi-currency/multi-bank solution. It
might simply improve your cash visibility; show how a hybrid/virtual
account structure has been implemented; involve complex cash pooling
structures or support a full regional treasury centre (RTC), shared
service centre (SSC) or in-house bank (IHB) structure. All are valid in
this category. Perhaps you manage the Asia-Pacific region from another
part of the world. Tell us how you achieve this.
Best Working Capital Management, AP/AR Solution
Efficient working capital is a key challenge for companies of all shapes
and sizes. What have you done to improve your key performance
indicators (KPIs) of DPO, DSO, DIO and/or DWC? Have you improved your
cash conversion cycle (CCC)? Tell us how this has been achieved. Perhaps
you have taken the step from straight through processing (STP) to
straight through reconciliation (STR), automating the reconciliations
process or have you implemented an ‘on-behalf-of’ (POBO/ROBO/COBO)
structure? Tell us how.
Best Card Solution
No longer just a piece of plastic, corporate cards have become an
integral part of the cash management set-up. Have you implemented a new
card programme to achieve increased control and/or visibility and/or
improved your T&E management? The winning solution, including
virtual cards, could cover any aspect of corporate cards, from improving
the richness of procurement data to minimising the risk of fraud.
Best Funding Solution
Many corporates are exploring alternative sources of funding and
diversifying their funding sources. With credit still squeezed,
corporate bonds have made a comeback in recent months. Has your company
issued commercial paper or bonds? Have you looked at panda or Formosa
bonds, securitisation, IPOs, crowd funding, peer-to-peer funding or the
private placement market? Whether a single transaction or as part of a
company’s overall debt strategy, this category is open to all types of
funding.
Best Trade/Supply Chain Finance Solution
This category combines trade and supply chain finance (SCF) to
acknowledge the special relationship between buyer and seller. Any
solution which addresses the supply chain, either financial or physical,
qualifies here. Perhaps you are looking at reverse supply chain. Have
you embraced electronic documentation? Have you implemented a smart
solution involving letters of credit, guarantees or do you practice open
account trading? Have you opened a new trade corridor in an emerging
market or perhaps you implemented essDOCS paperless trade solution
and/or have implemented a supply chain finance solution? Tell us your
trade and/or SCF story.
Best Risk Management Solution
Risk continues to be top of every treasurer’s agenda; the winning
solution could relate to any aspect of risk which arises in the
corporate treasury arena. Have you changed the way you control foreign
exchange risk, counterparty risk, commodity risk, interest rate risk or
your supply chain risk? Has currency volatility opened your eyes to new
risk management concerns and/or are you rethinking your hedging
strategy? Are you monitoring new risks such as sovereign risk, employee
risk or perhaps even reputational risk? What are you doing to mitigate
cyber-crime and fraud?
First Class Relationship Management
This category incorporates any relationship (internal as well as
external) managed by the treasury function, such as investor relations,
employee relations, ratings agencies and procurement, in addition to
your core bank(s)/other service provider(s) relationships. The recent
economic turmoil has certainly focused the attention on relationships.
Perhaps you have introduced a new RFP/bank selection process or had to
innovate to maintain credit lines? Are you looking at bank charges, bank
account analysis, managing mandates, using digital signatures or eBAM
perhaps? Do you benchmark your bank(s) and/or have you had to change how
the treasury function interfaces with procurement and/or taken a fresh
look at investor relations. Tell us your story.
Best Liquidity Management/Short-term Investing Solution
This category is included to capture best in class liquidity solutions
such as cash pooling structures. The solution can be single
country/single currency or multi-country/multi-currency. Short-term
investing is also included, providing an opportunity to show how your
company has optimised and/or diversified its short-term investments. How
have you addressed the trade-off between yield, liquidity and
counterparty risk? Have you explored alternative investment vehicles?
How have you overcome the low/negative interest rate environment and
have you had to consider the new regulations in the world of money
market funds? Do you use CNAV/ VNAV funds or the recently introduced Low
Volatility Net Asset Value (LVNAV) fund? Tell us your story.
Best Foreign Exchange Solution
This category includes any solution implemented, or in the process of
being implemented, which addresses foreign exchange. It could be a
single transaction, suite of transactions or a complete change in FX
strategy or policy, a hedging programme, use of specific instrument(s)
or a new FX requirement as a result of entering a new market or dealing
with a new client/supplier. Have you entered the emerging markets and,
if so, how have you dealt with any currency volatilities encountered?
Harnessing the Power of Technology
Whilst we appreciate technology will inevitably be a key component in
many of the submissions entered in other categories, we include this
category in its own right to capture any traditional treasury technology
solutions which are helping you run your treasury. Have you
re-engineered your processes where technology is the key enabler?
Entries here could include a simple in-house developed spreadsheet
solution to a full blown TMS/ERP project. Perhaps technology is helping
you to comply with the ever-increasing KYC, regulatory, security,
cyber-crime and/or fraud demands on your organisation. Tell us your
treasury technology stories.
Harnessing the Power of Emerging Technology
New for 2018, this category has been introduced specifically to capture
the emerging technology solutions. We have heard much about the fintech
revolution and artificial intelligence (AI), robotics, bitcoin,
blockchain and distributed ledger technologies. Has your company moved
beyond ‘proof of concept’ stage and is now using one of these emerging
technology solutions? Tell us your story.
Best SWIFT Solution
This category recognises any solution implemented, or in the process of
being implemented, where SWIFT is the primary enabler. It could involve
the use of any message type and/or SWIFT access method such as the
MA-CUG, SCORE, Alliance Lite, third-party bureau, Trade Services Utility
(TSU) or 3SKey. Perhaps you have embraced the newer message types such
as ACMT (Account Management), CAMT (Cash Management) and/or PAIN
(Payments Initiation) – tell us your SWIFT story.
Best Solution in China
This category recognises the unique challenges of operating in the PRC.
The solution can cover any aspect of corporate treasury. The only
condition is the solution must be implemented, or in the process of
being implemented. Whilst this category relates to a particular
geography, this does not preclude the solution from being entered in one
of the other categories if appropriate. Why not showcase your talent
and achievement and submit a nomination?
Best Solution in India
Introduced in 2017 to recognise the unique challenges of operating in
India. The solution can cover any aspect of corporate treasury. The only
condition is the solution must be implemented, or in the process of
being implemented. Whilst this category relates to a particular country,
this does not preclude the solution from being entered in one of the
other categories if appropriate. Why not showcase your talent and
achievement and submit a nomination?
One to Watch
This category includes any solution which is in the pipeline, has been
implemented as a direct result of macroeconomic events or is a project
which demonstrates innovation which does not easily fit another
category. Tell us why your submission is one that we should be watching.
Treasury Today Asia Woman of the Year
Open to any woman operating in the corporate treasury environment in the
Asia-Pacific region who can demonstrate real innovation, achievement
and someone who is a real inspiration in her current role. Do you know
someone in treasury who is a role model to other women? Someone who has
overcome real adversity? Who may have had a career changing experience?
Who has helped others? Someone who may have demonstrated real
innovation? What have they achieved? Why do they stand out? You might be
our Woman of the Year or you might want to nominate someone else. You
can attach or submit by email any material supporting your nomination.
A Rising Star
This category recognises talent coming through the corporate treasury
ranks in the Asia Pacific region. Have you excelled in a professional
qualification? Are you a future Finance Director or CFO? Whilst this
category may fit a junior person, later arrivals to the world of
corporate treasury are also invited to enter. Nominate yourself or
someone you think fits this category.
Nominations
The 2018 Overall Winners and Highly Commended Winners were announced in September. The award winners attended the prestigious Adam Smith Awards Asia Gala Presentation Lunch which was held in their honour on Thursday 15th November at the Four Seasons hotel in Singapore.
Should you have any queries please do not hesitate to contact us.
Winning submissions
Case studies of all the award winners will feature in the Adam Smith
Awards Asia Yearbook which will be seen by our Asia readership as well
as your colleagues, clients, investors and peers.
Criteria
The basic criterion for the Adam Smith Awards Asia is that they demonstrate best practice and/or innovation as evidenced by any of the following:
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Outstanding cost savings.
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Above average ROI.
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Optimal account/treasury structure.
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Quantitative improvements in efficiency.
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Cutting edge technology.
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Tailor-made solution.
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Exceptional implementation (budget/time).
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Quality accreditation.
The Adam Smith Awards Asia are open to companies operating in Asia Pacific (regardless of their home base which can be within or outside the region). The examples of best practice nominated should be deals and structures that have been implemented or are in the process of being implemented in 2017 and/or 2018.
Our Adam Smith Awards Asia Yearbook includes case studies on all award winners. The case studies are based on the winning nominations and the text is submitted for winners’ approval prior to publication. By submitting a nomination in the Adam Smith Awards Asia you accept that a case study outlining the details of your winning solution will appear in the Adam Smith Awards Asia Yearbook.
Adam Smith Awards Asia
The Adam Smith Awards Asia are unique in their focusing the spotlight on corporates. Showcasing those who define cutting-edge thinking and drive the industry forward. In these challenging times, The Adam Smith Awards Asia present an opportunity to reflect on the remarkable achievements in our industry.
The Adam Smith Awards are firmly established as the ultimate ‘benchmark’ for true treasury talent and our highly respected judging panel will be looking for innovation, creativity, outstanding insight, thinking ‘outside the box’ and, of course, real business impact.
Why are they called Adam Smith Awards Asia?
Adam Smith (1723-1790) helped to develop modern economic theory and provided a rationale for free trade and the capitalist system. He was a leading innovator of free-market policies and an advocate of a free society and is perhaps best known for his series of books ‘An Inquiry into the Nature and Causes of the Wealth of Nations’ normally referred to as ‘The Wealth of Nations’. This work advocates the division of labour and the benefits of competition and free trade and also has some wonderful observations on how markets work:
Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, in consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.
Adam Smith
The Adam Smith Awards Asia is not just another industry event. This highly prestigious awards programme recognises excellence and achievement in the corporate treasury space. That is why it is named after Adam Smith who reminds us all what best practice is.
