For many corporate treasury teams, the sky is threatening to fall. Supply chain and staffing woes—and the general Covid economy—have been plaguing global businesses for the past two years. Even as these challenges remain unresolved, inflation is now spiraling higher, and interest rates are on the verge of a series of upward bumps. Survival through this “perfect storm” of market trends may require companies to have clear, real-time visibility into corporate liquidity.
That’s why the first Alexander Hamilton Award of 2022 recognized Stamford, Connecticut–based envelope and label manufacturer Cenveo, whose treasury team leveraged sophisticated analytics technologies to automate and accelerate many aspects of treasury operations. The Cenveo project improved the company’s cash forecasting accuracy. It also dramatically reduced the amount of treasury staff time dedicated to rote tasks such as prioritizing outgoing payments. This freed up the team for more value-added activities.
Today, Cenveo business leaders see treasury managers as valued strategic internal advisers, thanks in no small part to the results of the liquidity management initiative. “With the visibility we have now, if there’s a need for capex within the business, we can see that,” says Frank Coppola, Cenveo’s senior vice president of finance and accounting. “We’re not spending the whole day looking at accounts payable. We’re actually helping change and invest in the business.”
Congratulations to Cenveo for this outstanding liquidity management project! And thank you to the judges of our 2022 awards program: Jean-Francois Heitz, former deputy CFO and treasurer of Microsoft; Erik Smolders, former treasurer of Ingram Micro and a vice president in Deloitte’s Global Treasury Advisory Services practice; Craig Jeffery, managing partner of Strategic Treasurer; and Marie Hollein, former president and CEO of Financial Executives International.
Finally, thank you very much to Kyriba, C2FO, TIS, ION Treasury, and ICD for sponsoring the 2022 Alexander Hamilton Awards program.
You can learn more about the award-winning Liquidity Management project by watching the on-demand webcast during which we presented the awards.
Information on our other 2022 Alexander Hamilton Awards is available, as well:
- Best Practices in Restricted/Emerging Markets: View the on-demand webcast, or read about the projects.
- Working Capital & Payments: View the on-demand webcast, or read about the projects.
- Treasury Transformation: View the on-demand webcast, or read about the projects.
- And register today for our live webcast recognizing the Alexander Hamilton Small Company Excellence Award winners, which will take place on July 20 at 11 a.m. ET.
Treasury & Risk will present the rest of our 2022 Alexander Hamilton Awards in a series of articles and webcasts throughout the year. Stay tuned!