LONDON, June 24, 2014 /PRNewswire/ -- The corporate treasury and finance resource gtnews has announced winners of the 2014 gtnews Awards for Global Corporate Treasury and Finance, recognising the CFOs, treasurers and finance staffs that have done the most to contribute to the success of their organisation, wherever they are in the world.
The 2014 Awards attracted high level entries from countries all across North America, Europe and Asia, spanning eight categories. Submissions ranged from companies specializing in forest products, fabrics, engineering and electronics, enterprise software, hospitality, to the finance department of a major financial institution and even an international trading exchange.
Topics for 2014 included a category that was introduced last year for financial planning and analysis, the discipline of forecasting and scenario planning that is becoming increasingly important to the financial success of global organisations.
A special Judges' Choice Award this year recognised an ambitious project by Rolls Royce, in collaboration with Citi, to develop a programme to provide Rolls Royce's suppliers with access to funding at very fine rates, leveraging the company's strong credit rating.
Winners of the 2014 gtnews Awards for Global Corporate Treasury and Finance:
- Cash Forecasting Award: AIA Group Limited for "Project Amadeus – Transforming Cash Forecasting Through Technology and Processes"
- Financial Planning & Analysis Award: Etihad Airways for "5YP – Fostering a culture of ownership across the organization"
- Funding the Organisation Award: SAP AG for "Early Refinancing SAP AG's EUR 2bn Revolving Credit Facility"
- Global Treasury Award: Texhong Textile Group Limited for "Texhong Textile Group Liquidity Management Solution"
- Payments Award: Siemens AG for "Implementation of CNY as Additional Global Invoicing Currency"
- Risk Management Award: TUI Travel PLC for "Hotelbeds InstantFX"
- Supply Chain/Trade Finance Award: Rolls-Royce for "Funding the Unfundable - Finance for Supplier Tooling for Rolls-Royce"
- Treasury Technology Award: NASDAQ OMX for "NASDAQ OMX Group Treasury Overhauls Clearinghouse Process Using Treasury Technology for EMIR Compliance and Improved Visibility to Cash, Risk and Trades"
- Judges Choice Award: Rolls-Royce for "Funding the Unfundable - Finance for Supplier Tooling for Rolls-Royce"
Winning entries show how corporations continue to cope with the pressures of an increasingly globalised marketplace with regional regulatory demands, yet are able to create excellent finance structures by using technology in new ways and by creating a unified corporate culture.
The judging panel, headed by Oliver Eiss, Director- Corporate Development, GlaxoSmithKline, included working treasury professionals from Bacardi, Honda Motors Europe, Ladbrokes plc, Merck KGaA and SABMiller plc, among other companies, providing real-world expertise to ensure that the very best examples were rewarded.
gtnews, part of the Association for Financial Professionals, is the leading online knowledge resource for global treasury, finance, payments and cash management professionals. Under the guidance of an advisory board of European and Asian treasurers, gtnews provides weekly updates and an archive of over 8,500 articles, research reports, commentaries, webinars, and whitepapers with a global finance focus. The annual gtnews Awards for Global Corporate Treasury and Finance celebrate best practice in finance projects and provide executive level education and networking opportunities. Follow @gtnewsdotcom