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EUROFINANCE

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THE BENCHMARK OF TREASURY EXCELLENCE

The annual EuroFinance Treasury Awards for Excellence are the benchmark for
treasury excellence. Every year, the theme changes to reflect the key trends
that have emerged in treasury over 12 months, and the winners are invited to
tell their story at our annual flagship conference, EuroFinance International
Treasury Management in Barcelona in September. Past winners include Alibaba,
Fiat Chrysler, Nokia, Microsoft and Coca-Cola.

We are looking for treasury teams that have pushed the boundaries of the
industry in very challenging times. Those that have created solutions that
respond to real needs, for present and the future, that not only drive value
creation within their business but also continue to take the industry to new
levels of excellence.

Award submissions are now open and close on Friday 21st April 2023.




2023 AWARD CATEGORIES


MASTERING STRATEGIC CHANGE

Just as businesses are looking at radical change to keep themselves relevant, so
too must treasury. Disruption is a given. But how to create a coherent strategy
of how to remodel? How to evaluate in advance the myriad risks that new business
and treasury models are likely to entail? Winners of this award have innovated
to drive treasury efficiency, control risk and create value for the wider
business.


TECHNOLOGY IMPLEMENTATION

Treasury technology is rapidly advancing and proliferating into every aspect and
function of treasury, often making recent tech obsolete or less useful. This
award recognises a treasury team that has collaborated with a partner in
implementing new and innovative technology that has successfully transformed
their treasury function.


DIGITAL TRANSFORMATION

Treasury has become a driver in joining up disparate systems and making their
data available for real-time analysis. This award recognises their role in
reducing complexity and increasing visibility and insight, connecting treasury
to the business in a way that has not been possible until now.


RISK MANAGEMENT AND RESILIENCE

The coronavirus pandemic has caused a global economic shock, and aside from the
human toll has played havoc with treasury forecasts and hedging strategies. This
award recognises astute risk management actions by treasury that protected staff
and enabled their companies to survive.




2022 AWARD WINNERS AND RUNNERS UP


MASTERING STRATEGIC CHANGE

Winner: Holcim

Holcim group, the Swiss multinational manufacturer of building materials,set out
on a path to shift treasury activities to centres of excellence
(COEs).overhauling operating models to better align with the rest of a
multinational’s global finance organisation.

This meant handling not only a multitude of technological and banking challenges
but also significant operational headwinds as the company moved from a local
treasury in each country to a regional treasury reporting to the regional CFO.

Despite the challenges, the treasury team’s efforts reaped benefits as
simplification, standardisation, resulted in the reduction of hundreds of manual
labour hours, tens of hours in treasury tasks and also cutback in banking fees.
As masters in strategic change, the treasury team has achieved important goals
in digital transformation, people development and in the aim of being a real
business partnering to the business, the business itself is growing due to these
efforts.

Runners Up: London Stock Exchange

In January 2021, London Stock Exchange Group (LSEG) completed the acquisition of
Refinitiv, a financial markets data and infrastructure provider. This was the
largest acquisition in the history of the company. While acquisitions fuel
growth for an organisation, they always come with challenges, and for the
treasury team at LSEG it not only meant merging the two treasury organisations
but also standardising and integrating their processes, including the
implementation of a global treasury management solution.

In November 2021, LSEG started working on the treasury transformation and after
a short period of six months, the treasury team was able to automate and
standardise a large part of its manual treasury processes and further integrate
with Refinitiv’s treasury management solution, helping it gain access to daily
cash visibility, something the team did not have with their manual processes and
further making it is easier to analyse and eliminate manual reconciliations and
enhancing controls.


DIGITAL TRANSFORMATION

Winner: Health Care Service Corporation

The scale of HCSC’s US$50.2bn operation is enormous and involves a complex
system of multiple independent financial platforms. This led the treasury team
to begin an enterprise-wide digital transformation project to improve decision
making and re-architect the team’s capacity to be prepared for any future crises
or to take advantage of an opportunity with agility and confidence.

The modernised treasury technology stack delivered critical productivity
enhancements, such as centrally organised data management and improved treasury
decision making functionality that has driven treasury performance, and created
significant business value.

Runners Up: CrowdStrike Holdings,Inc.

A global cybersecurity leader that provides cloud-delivered protection of
endpoints, cloud workloads, identity and data, CrowdStrike has seen its revenue
increase by two-fold while cash & cash equivalents climbed from just over $250
million in January 2020 just before the pandemic to over $2 billion as of April
2022. Therefore, to support this hyper-growth, the company needed a quick and
automated solution that could be rapidly implemented and scale treasury
alongside the growing company.

Taking advantage of the rising trend of open banking via APIs and machine
learning solutions, the company partnered with a fintech company to gain full
visibility into its cash activities within weeks and was able to provide
valuable cash insights to support real time data backed decisions.


RISK MANAGEMENT AND RESILIENCE

Winner: Pegasus

The dramatic drop in demand for passenger air transport due to the COVID-19
pandemic upended operations for the airline industry. With aircrafts grounded
and oil prices tumbling, treasurers at the Turkey based Pegasus Airlines were
tasked to ensure that the company had sufficient liquidity to survive the
pandemic.

The treasury team carried a Eurobond issuance, a local currency issuance and
also utilised its bank limits to bolster its cash positions. Meanwhile, the team
also started to hedge against fuel prices at the beginning of June 2021 which
reaped profits as Brent prices rallied, and implemented multiple steps in order
to cut its payments and generate cash savings. The treasury team’s efforts
helped reduce cash burn across the organisation in order to emerge strongly out
of the pandemic.

Runners Up: Save the Children International

Established over a century ago, Save the Children International provides
education, health care, economic and emergency relief to children in 118
countries around the world.

Local banking system failures, higher regulatory barriers and economic sanctions
in some countries, put tremendous pressure on the treasury team to continue
providing funding in the most challenging locations.

The treasury team has been actively mitigating these operational risks by not
just keeping the current funding routes and cash distributions system open but
also finding alternative payment routes so that funding to frontline colleagues
remains unabated in the coming months to support their key mission of supporting
children and families.




ABOUT THE AWARDS


HOW TO ENTER

It’s easy to enter the awards – after all, in showing what you can achieve,
you’ve already done the hard part. Please submit your entry via the form below.
You can also download a copy of the form here and email to
awards@eurofinance.com with any supporting documents.

We are looking for a good narrative that supports your submissions. Although we
require some information about your company in our online entry form, what we
are ultimately looking for is a compelling story. Ideally, to excite our
interest, that story can be given simply in bullet points on one page uploaded
document showing concrete examples of treasury-led/implemented transformation
project (s) that show good communication, mobilisation of resources and teamwork
through adversity.

Award submissions are open now and close on Friday 21st April 2023.




CRITERIA AND ELIGIBILITY

The annual EuroFinance Treasury Award for Excellence is presented to the company
that best embodies the themes of EuroFinance’s flagship event.
The award is open to any commercial business, public/state-sector entity or
not-for-profit organisation, anywhere in the world
Banks, FIs, software providers and other vendors are not eligible to enter but
we welcome submissions on behalf of your corporate clients.
Competition for this award is strong, and so it is unlikely (but not impossible)
that treasuries from the smallest businesses will satisfy the criteria.


GUIDELINES AND TIPS

 * Please use the online entry form to submit your award application. To ensure
   consistency and fairness in judging, this form is mandatory for all
   participants.
 * Please provide a clear explanation as to why you should win the EuroFinance
   Treasury Award for Excellence.
 * You may submit supporting material but this must be in English. (Testimonials
   from your chief executive, investors, bankers, or internal
   customers/stakeholders may be helpful but are not necessary).
 * Any commercially sensitive information in the entry should be marked as such
   and will not be publicised by the judging panel. Please note, however, that
   you must provide an adequate amount of disclosure to justify the award.
 * Winners will be expected to make a treasury executive available for
   interview, for an article to be published on the EuroFinance website, and
   should notify their communications teams of this.


WINNERS' ENTITLEMENT

 * Present at our annual flagship EuroFinance International Treasury Management
   conference in Barcelona, September 27th-29th 2023 where you will be presented
   with your award and trophy
 * An interview with the EuroFinance editorial team to be published on the
   EuroFinance website
 * Award logo as “Winner of the EuroFinance Treasury Award for Excellence 2023”
   for your website, social media and other materials
 * Banks and vendors whose clients win an award may license the Award logo from
   EuroFinance


JUDGING PROCESS

 * The judging panel will comprise members of the EuroFinance editorial,
   research and programming
   teams, chaired by the Senior Editor and a team of treasury experts.
 * The judging panel may conduct its own additional research or put questions to
   the entrants in order to clarify your submissions
 * Entrants will be notified whether they have won or been shortlisted as soon
   after the closing date as a thorough judging process allows
 * Anyone considering entering these awards who has any questions about the
   rules or procedures may email awards@eurofinance.com



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