Treasury Awards 2010

AkzoNobel and its Treasury Transformation Project

We are delighted to inform you our client AkzoNobel has won prestigious awards for its Treasury Transformation Project.

Our congratulations go to the team of AkzoNobel, who won the “Treasury Technology Implementation Project of the Year” and “Treasury Team of the Year” award categories at the gtnews Global Corporate Treasury Awards, which were held in Amsterdam during Sibos 2010. AkzoNobel also won The Treasury of the Year Award 2010 at EuroFinance in Geneva as a recognition of its treasury excellence.

One judge commented on the treasury technology award: “Well planned and executed – best in class - by starting with business case approval and alignment across multiple lines of business requirements”.

Zanders has worked very closely with AkzoNobel on its Treasury Transformation project, so we are extremely pleased and proud that the initiative has received industry-wide recognition. The modernization of AkzoNobel's treasury was first conceived in 2008. The new SAP Treasury system (including SAP In-House Cash, SAP Bank Communication Management, SWIFT correspondence monitor and Swiftnet) went live in April 2010, along with a new global payments factory in an implementation period of around a year.

AkzoNobel's treasury team, headed by group treasurer Peter van Rood, has been recognized by the gtnews Treasury Team of the Year award for the change that it achieved during a difficult financial environment. Through teamwork, AkzoNobel successfully implemented a complex IT project at a very challenging time. Zanders is pleased to have worked closely with the treasury team throughout in an advisory and consultancy role.

“Dealing with both the expected and the unexpected in very difficult times has been challenging for all treasuries. AkzoNobel seems to thrive in such situations” said one judge.

For more information about Zanders' involvement with AkzoNobel's Treasury Transformation please see this article on our website  http://zanders.eu/en/client-cases/case/the-treasury-transformation/

If you would like to discuss any aspect of this project of a treasury transformation and implementation project, please do not hesitate to get in touch with Judith van Paassen: update@zanders.eu.

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