The changing value of treasury – 2018 Treasury Excellence Award winners

The annual EuroFinance Awards 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.

This year’s winners have taken the first steps towards building a smart treasury, applied new technology successfully to a core treasury problem and delivered genuine value to the business through innovation.

Overall award: Mastering strategic change

Winner: Stripe
This fast-growing online payment processing company manages billions of dollars of processing volume annually for millions of business worldwide. Mastering strategic change has been the theme for the company’s treasury.

Award for treasury re-engineering

Winner: OpenText
This Canadian information management company grew fast and was faced with a legacy treasury operation with myriad banks and manual systems. Re-engineering the system to a fully automated platform dramatically reduced banks and freed up capital.

Award for business partnering for value added

Winner: Volvo Car Corporation
The Swedish automaker has found practical ways in which its treasury to add demonstrable value to the business. 

Award for new build treasury

Winner: Deliveroo
This food industry disruptor is only five years old but has revolutionised the connection from restaurant to customer via its army of ‘gig economy’ drivers. Partnering with Citi, the company rebuilt its treasury to handle high-volume payments on an API platform.

Award for process transformation

Winner: Maersk Kanoo Emirates LLC
The Dubai-based container shipping company was mired in a manual, paper-based payments system that frustrated customers. It then implemented an automated accounts receivable system that revolutionised its business.

Award for innovation

Winner: Uber Technologies Inc
Founded in 2011, this disruptive logistics and transportation company expanded internationally reaching four million disbursement transactions per week, leaving sub-optimal payment solutions and straining wire capacity in some countries. Its treasury solved the problem with an innovative XML-based payments system.

Award for digital transformation

Winner: NH Hotel Group
The Spanish-based hotel group was saddled with a decentralised cash-based treasury structure and underwent a profound transformation to an automated, fully centralised treasury.

Award for technology implementation

Winner: UPS
The US-based delivery company operates in 76 countries and has 120 partner banks. With a decentralised treasury, it didn’t even know much cash it had. The company implemented a vendor solution that allowed full cash visibility across the business.

Award for innovation in financing

Winner: Vedanta Group
The UK-listed natural resources company faced significant financing challenges amid a global commodities downturn and ratings downgrades. It was able to transform its credit profile by a combination of deleveraging, extending average maturity and optimizing the blended cost of borrowings.