In a business's early days, optimizing treasury capabilities may take a backseat to more pressing organizational needs. Sometimes this means that, down the line, a large and complex company realizes it is operating much less efficiently than it could be. And in many cases, the adoption of the right technologies can bring efficiencies in treasury that were previously lacking. Such is the case for all three of this year's Alexander Hamilton Award winners in the category of Technology Excellence

Join this Treasury & Risk webcast where we explore how these companies leveraged technology to centralize key treasury tasks, dramatically improving the treasury group's efficiency, reducing risk to the organization, and highlighting the value that treasury brings to the company.

The winners are: ● Casey's General Stores. Based in Ankeny, Iowa, Casey's grew to have more than 2,300 bank accounts across 890 different bank branches before building an internal treasury team. The convenience store chain with over $10 billion in annual revenue centralized cash management, deploying smart safe and other technologies to support the transition. Casey's eliminated approximately $3 million in cash shrinkage and enabled staff nationwide to redirect 1.7 million hours per year away from store-level treasury activities and toward more value-added tasks.

● Heidrick & Struggles. The global executive search firm also centralized key treasury functions in order to dramatically improve efficiency. In its case, the challenging tasks revolved around cash flow forecasting. The firm built a custom module for its ERP system called the Heidrick Cashflow Forecast Module, which pulls together data from A/P, A/R, treasury journals, and the corporate G/L, then analyzes that data with business logic designed to account for seasonality, FX, bad debt, and other factors. The resulting forecasts are much easier to produce and less challenging to maintain than the legacy process. They also significantly reduce the risk of forecasting errors. Meanwhile, Heidrick & Struggles has gained better visibility into data and processes, supporting better decision-making companywide.

● Hilton. The hotel chain operates 7,300 properties in 123 countries and territories. For two decades, the Hilton treasury team used spreadsheets and emailed documents back and forth to manage the myriad bank accounts required to run this widely dispersed business. When Hilton implemented a bank account management system, the treasury team was able to centralize bank account information for business units around the world, reducing information risk and creating a clear audit trail that reduces organizational risk as well.

Register Now

Can't attend? Register here for an on-demand recording after the webcast.

Speakers: 

Yogesh Tupe | VP & Treasurer | Heidrick & Struggles