EuroFinance

2026 has been a demanding year for treasury teams worldwide. Interest-rate shifts, tariffs, macroeconomic headwinds, rapid technological change and geopolitical tension have forced treasurers into quick decisions and constant resilience in an increasingly volatile environment.

The EuroFinance Treasury Excellence Awards recognise the companies and treasury teams that have risen to this challenge — standing out through sharp, decisive action in a fast-changing world.

The six categories in which EuroFinance celebrates outstanding treasury achievement are:

• Cash champion
• Financing & Liquidity
• Operational excellence
• Risk & resilience
• Technology & AI innovation
• Rising star award

Each category tells a different part of the same story — of teams that read the moment, adapted fast, and found new ways forward as the ground shifted beneath them. Entries arrived from every corner of the industry, each offering its own answer to the same question: how does one lead treasury through uncertainty?

Shortlisted entries:

Cash Champion

Equinor

Equinor, a global energy company, modernised treasury operations by introducing real-time payment visibility, intraday cash reporting and stronger liquidity controls across its global business. The transformation delivered a single, more transparent view of cash and banking activity.

Iberdrola

Iberdrola, a global renewable utility company, became the first corporate to implement Swift’s Instant Cash Reporting, giving treasury real-time visibility across multiple banks. The initiative replaced end-of-day reporting with live cash information and reduced manual reconciliation.

AstraZeneca

AstraZeneca, a global biopharmaceutical company, deployed an AI-powered liquidity forecasting platform that extended cash visibility from one week to five. The initiative improved forecasting accuracy and gave treasury greater confidence in liquidity planning.

Newell Brands

Newell Brands, a consumer goods manufacturer, centralised global liquidity, simplified banking relationships and strengthened cash concentration across its international operations. The transformation reduced funding requirements while being managed by a lean treasury team. 

Financing & Liquidity

Grifols

Grifols, a global healthcare company, completed a major refinancing despite heightened geopolitical volatility. The transaction improved funding conditions and demonstrated renewed market confidence in the business.

Şişecam

Şişecam, a glass and chemicals manufacturer, became the first corporate to deploy digital Working Capital Notes in live production. The programme enables suppliers to access funding more efficiently while supporting working capital optimisation.

Asahi Europe & International

Asahi Europe & International, a brewing company, overhauled its Supply Chain Finance programme to improve supplier access to funding while simplifying onboarding and reducing cross-border payment costs.

Siemens Energy

Siemens Energy, an energy technology company, assembled a landmark guarantee facility that protected project execution during a period of exceptional financial and operational pressure before successfully returning to commercial financing.

Operational Excellence

Siemens Healthineers

Siemens Healthineers, a medical technology company, successfully integrated treasury operations following the Varian acquisition, standardising banking, payments and foreign exchange management without disrupting business operations.

The Magnum Ice Cream Company

The Magnum Ice Cream Company, a global ice cream manufacturer, built a complete treasury function from scratch following its separation from Unilever, supporting one of Europe’s largest public listings without disrupting operations.

Aliaxis

Aliaxis, a global building materials manufacturer, transformed a fragmented treasury operation into a modern global function with standardised systems, governance and banking oversight, significantly improving financial control.

Solstice Advanced Materials

Solstice Advanced Materials, an advanced materials company, established a standalone treasury function within months of its spin-off from Honeywell, strengthening cash management and funding while ensuring business continuity throughout the transition.

Risk & Resilience

Lebara

Lebara, a telecommunications provider, replaced fragmented spreadsheets and manual banking processes with a centrally controlled treasury platform, strengthening governance and delivering real-time cash visibility.

SOCAR Türkiye

SOCAR Türkiye, an integrated energy company, centralised treasury operations and automated high-risk manual processes, improving visibility across liquidity, foreign exchange and credit risk while reducing operational complexity.

Bristol Myers Squibb

Bristol Myers Squibb, a global biopharmaceutical company, redesigned its net investment hedging strategy to reduce cash-flow risk and improve financial performance while expanding the programme across multiple currencies.

Airtel Africa

Airtel Africa, a telecommunications and mobile money provider, transformed its treasury operating model by strengthening its capital structure, improving liquidity access and reducing foreign-currency risk. Real-time dashboards and artificial intelligence-assisted analysis now provide a unified view of liquidity, funding and risk across 14 African markets.

Technology & AI Innovation

Microsoft

Microsoft, a global technology company, built an artificial intelligence-powered treasury decision hub that combines market intelligence and internal exposure data into a single workspace, enabling faster and more informed decision-making.

PayPal

PayPal, a digital payments company, delivered a multi-track treasury transformation combining commercial paper funding, blockchain-based intercompany settlements and an artificial intelligence operating model built on a unified treasury data warehouse. Eleven production AI assistants now automate tasks that previously consumed hours.

Delivery Hero

Delivery Hero, a global food delivery platform, moved treasury artificial intelligence from dashboards to autonomous action, deploying execution-ready agents that identify and trigger liquidity, foreign exchange and risk optimisations while dramatically reducing query times.

Naturgy

Naturgy, a multinational energy company, embedded artificial intelligence across treasury through a wide range of production use cases, including cash forecasting, guarantee management and decision-support tools that improve operational efficiency.

ServiceNow

ServiceNow, an enterprise software company, built a unified treasury data platform that consolidates fragmented systems into a single source of truth, enabling artificial intelligence-powered cash analysis and more accurate forecasting.