Whatever a company's size, and however sophisticated its treasury function, if it looks hard enough, it is sure to find areas of cash management, financial risk mitigation, or other core treasury activities that are ripe for transformation. The winners of this year's Alexander Hamilton Awards in the category Treasury Transformation demonstrate this fact.

Two of these organizations had no treasury function at all just a few years ago. When Scott Taylor joined Bandwidth as its treasurer in 2019, he was the first dedicated treasury professional the company had ever employed. By contrast, Microsoft has a large, well-established, and perpetually innovative treasury organization, as demonstrated by the company's many appearances in the Alexander Hamilton Awards winners' circle through the years.

But despite their differences in size and circumstances, all four of this year's Treasury Transformation winners recognize the importance of periodically reconsidering and, when necessary, re-engineering critical processes to optimize efficiency and effectiveness. "When you build a process that then grows over time, it's really valuable to take a step back and re-examine whether you're doing it in the best possible way," says Jemima Haines, manager of treasury capital markets for Salesforce.