Treasury transformation is necessarily an extremely resource-intensive exercise. Staff must spend a great deal of time designing processes, and an assortment of technologies is often necessary to support the desired improvements. But for companies that take the leap to transform their treasury function, the initiative is often well worth the effort. This year’s Alexander Hamilton Award winners in the category Treasury Transformation demonstrate the benefits of an ambitious treasury agenda, with the understanding that proper planning may require cutting the objectives into bite-sized pieces.

“Companies that are looking to transform treasury should evaluate where their biggest pain points are, then tackle those first,” suggests Mike Vienneau, vice president of treasury at Subway. “That sets you up for a tailored approach that ensures you address your primary needs, while enabling you to set reasonable expectations for additional benefits down the road.”