At a ceremony here this month, Reval accepted awards alongside clients Cigna and eBay, which were highly commended for Harnessing the Power of Technology and Best Risk Management Solution, respectively. For Reval, recognition with Treasury Today magazine’s Adam Smith Awards follows a win earlier this year for Best Corporate Risk Management Solution in Global Finance magazine’s 2015 Best Treasury and Cash Management Providers awards.
“Cigna is honored to have received the Adam Smith technology award for our global transformation project,” says Scott Lambert, Treasury Senior Director in Cigna’s Treasury Department, which is using capabilities from across the full spectrum of treasury and risk management functionality on the Reval Cloud Platform. “We wanted to leverage software-as-a-service technology as much as possible to more easily standardize everyone on the same platform, share data, and achieve visibility and control. When we looked to automate a standard process for cash forecasting, we felt the dynamic cash flow forecasting capabilities enabled us to save time and lower idle cash.”
eBay’s collaboration with Reval helped shape the industry’s best practice reporting for EMIR compliance. “The sheer volume of trades and the related details that needed to be reported would have made gathering the necessary information a daunting task,“ says Debdatta Banerjee, Senior Manager of eBay’s Treasury Operations and Controls. “If we had not leveraged the foreign exchange capabilities we already had in place with Reval, the task would have been insurmountable. We are happy that the industry recognizes our accomplishments and that other companies will benefit from the EMIR capabilities we developed with Reval.”
Finance professionals can read more details about the award-winning projects in Treasury Today’s upcoming Adam Smith Award Yearbook, which will be published mid-July. According to Treasury Today, 210 entries were received from companies of various sizes and industries across 23 countries. Judges sought companies demonstrating innovation, creativity, outstanding insight, thinking 'outside the box' and real business impact.
“We are thrilled for Cigna and eBay and appreciate the acknowledgement of their work to advance the industry,” says Reval´s Chief Marketing Officer and EVP of Corporate Strategy Justin Brimfield. “Reval remains dedicated to helping corporate treasuries tackle their challenges, especially as it benefits the entire community of users on the Reval Cloud Platform.”