Earlier in 2014, we celebrated the seventh year of Treasury Today’s Adam Smith Awards which are now recognised as the industry benchmark for corporate treasury achievement globally. The programme has gone from strength to strength. As a result, in January, we decided to introduce Adam Smith Awards Asia specifically to honour corporates operating in the Asia Pacific region for their strategies and achievements.
In September, shortly after nominations closed, our judges convened to undergo the extremely challenging task of examining and shortlisting the many entries and then finalising their decisions. This is difficult. As you might expect, the decisions are not always unanimous. Having said that, this was certainly not the case with the Top Treasury Team Asia winner – the treasury team at Bharti Airtel in New Delhi carried agreement from all our judges for their seven pillar treasury transformation project.
The most popular categories were Best Working Capital/Financial Supply Chain/Accounts Payable/Accounts Receivables, Best Cash Management and Best Process Re-engineering solutions, no doubt a reflection of what has been on the agenda for many of you over the past 12-18 months.
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.
The following pages summarise the Winning and Highly Commended corporates as short case studies and I hope you find them informative and an inspiration. A number of these will be presented in more detail in a series of corporate Adam Smith Awards Asia Webinars in 2015.
All of us at Treasury Today Asia wish to acknowledge your achievements and we applaud each and every one of the many applicants whether you were successful or not.