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Bronze Alexander Hamilton Award In Technology

Tyco International Ltd. is the bronze winner in technology.

By Staff Writer | Updated on November 01, 2006

Even after surviving one of the biggest accounting scandals in history, the future of Tyco International Ltd. as a thriving organization was in no way assured in late 2003, when its treasury staff began to address lessons learned from the prior year’s credit crisis and the lack of visibility into Tyco’s contingent liability portfolio. Tyco’s decentralized global structure meant there was little uniformity in gathering information and reporting on letters of credit (LCs) and bank guarantees involving more than 400 Tyco subsidiaries and 100 banks. And, the overly manual processes then in use would not stand up to new reporting requirements.

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