7th annual cfo innovation awards · the cfo innovation awards recognize outstanding chief financial...

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7th ANNUAL

CFO INNOVATION

AWARDS

DECEMBER 2018, SINGAPORE

OMNIBUS NOMINATION PACK

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Honoring Excellence in Financial

Management

Nominate CFOs, service providers, and transformative projects

The CFO Innovation Awards recognize outstanding Chief Financial Officers

and partner companies that provide corporate finance departments with

innovative products and services, including accounting firms, banks,

enterprise software companies and finance executive recruiters.

The Awards also honor individual transformative projects and transactions

that showcase effective collaboration between the CFO and his or her service

provider.

Examples of transformative projects include the deployment of innovative

technology that resulted in finance acquiring outstanding analytics

capability, adoption of a new budgeting process with the help of a

management consultant, and implementation of a cash management

solution that resulted in 100% global cash visibility.

Nominations are now being accepted from CFOs and other finance

professionals as well as from service providers. Whether you nominate

yourself, your CFO, the CFO of another organization or a transformative

project you were personally involved with or not, we hope you will take this

opportunity to honor a deserving Awards recipient.

Teresa Leung

Senior Editor

CFO Innovation

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Contents

About The Awards 4

CFO of the Year Awards 5

CFO OF THE YEAR

EXCELLENCE IN FINANCE TRANSFORMATION

EXCELLENCE IN FINANCIAL PLANNING & ANALYSIS

EXCELLENCE IN TECHNOLOGY

EXCELLENCE IN TALENT MANAGEMENT

Partner of the Year Awards 8

BEST IN AUDIT SERVICES

BEST IN TAX ADVISORY

BEST IN RISK MANAGEMENT ADVISORY

BEST TRADE CREDIT INSURANCE PROVIDER

BEST GENERAL INSURANCE PROVIDER

BEST INSURANCE BROKER

BEST IN PAYROLL OUTSOURCING

BEST IN F&A OUTSOURCING

BEST IN FINANCE AUTOMATION

BEST IN F&A RECRUITMENT

Editors’ Choice Awards 10

EXCELLENCE IN CYBER SECURITY TRANSFORMATION

EXCELLENCE IN RISK MANAGEMENT (CYBER INSURANCE)

EXCELLENCE IN TRANSACTION BANKING

EXCELLENCE IN TRADE FINANCE

EXCELLENCE IN ROBOTIC PROCESS AUTOMATION

EXCELLENCE IN TREASURY MANAGEMENT TRANSFORMATION

EXCELLENCE IN ANALYTICS TRANSFORMATION

EXCELLENCE IN BUDGETING TRANSFORMATION

EXCELLENCE IN ERP TRANSFORMATION

EXCELLENCE IN FOREX MANAGEMENT TRANSFORMATION

Nomination Guidelines 12

Nomination Forms

CFO of the Year Awards

Editors’ Choice Awards 13

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About the Awards

Now on its seventh year, the CFO Innovation Awards honor individuals, companies and

projects in the Asia Pacific region for innovative and transformative achievement in

corporate financial management.

The Awards are divided into three categories:

CFO of the Year Awards (to recognize the achievements of CFOs)

Partner of the Year Awards (to recognize outstanding service providers such as

accounting firms, banks and technology companies)

Editors’ Choice Awards (to recognize well-executed transformative projects carried

out by a finance department in collaboration with service providers)

Specifically, the objectives of the awards are:

1. To recognize and celebrate individuals and service providers helping transform

financial management in Asia Pacific enterprises

2. To promote sharing and learning of strategies, best practices and

technology-enabled innovation in financial management through

outstanding projects by CFOs in collaboration with service providers

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CFO OF THE YEAR AWARDS

DETERMINED BY JUDGING PANEL

1. CFO OF THE YEAR

Who should be nominated: CFOs of stand-alone companies, whether MNCs, regional

companies or national enterprises, who are the ultimate decision-makers in financial

management and who report to the CEO and the board. Regional, country and business-unit

CFOs, finance directors and vice-presidents of finance who report to a higher-level CFO or

FD should not be nominated for this award.

Who should submit nomination: CFOs (nominating themselves or another CFO), other

finance professionals, service providers including advertising and marketing agencies

Criteria: The CFO of the Year is a CFO who:

piloted the company to outstanding revenue and profit growth

achieved or maintained best-in-class cost of finance

transformed the finance function and the business through initiatives such as, but

not limited to:

transitioning to a more powerful business model

expanding the business through successful M&A (and post-merger integration)

and organic growth

helping win and retain big customer accounts

attaining accurate forecasting, effective planning and budgeting

conducting effective risk management

overseeing successful change management

Who determines the CFO of the Year: A judging panel will assess the quantitative and

qualitative aspects of the nomination and other information, and select the nominee that in

its judgment deserves the award.

2. EXCELLENCE IN FINANCE TRANSFORMATION

Who should be nominated: CFOs of stand-alone companies, regional, country and business-

unit CFOs, finance directors and vice-presidents of finance


finance professionals, service providers

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Criteria: The Excellence in Finance Transformation Award is given to a CFO who modernized

the finance function in response to new expectations that finance also focus on operations

and strategy. Among others, the CFO:

simplified and redesigned organizational structures and finance processes through

automation and other technology innovations in a cost-effective and secure way

outsourced processes to a Shared Services Center and/or third-party BPO provider,

resulting in higher satisfaction among internal clients

designed and deployed robotic process automation, machine learning, digital

assistants, artificial intelligence and other next-generation technologies

re-oriented the finance team towards business partnering, analytics and other value-

added tasks without detracting from traditional activities such as accounting,

reporting and compliance

Who determines the awardee: A judging panel will assess information in the nomination

document as well as other data, and select the nominee that in its judgment deserves the

award

3. EXCELLENCE IN FINANCIAL PLANNING & ANALYSIS





Criteria: The Excellence in Financial Planning & Analysis Award is given to a CFO who has

achieved outstanding business outcomes from developing and nurturing the FP&A function.

Among others, the CFO:

adopted an FP&A structure appropriate for the company (centralized, decentralized,

hybrid)

redeployed and retrained existing staff to FP&A and/or recruited and nurtured new

talent for FP&A, with emphasis on business acumen, analytical capabilities and

communication skills

generated insightful reports that are accepted and implemented by the business



award

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4. EXCELLENCE IN TECHNOLOGY





Criteria: The Excellence in Technology Award is given to a CFO who has achieved

outstanding business outcomes from deploying technology in finance and the wider

business, such as but not limited to robotics process automation, analytics and business

intelligence software, and treasury management system. Among others, the CFO:

collaborated effectively with the CIO and the IT department to select and deploy the

appropriate, cost-effective and secure technology solutions in financial management

retrained existing staff and/or recruited and nurtured new talent to optimize use of

the technology solutions within and outside finance

generated significant outcomes such as provision of real-time data, achieving global

cash visibility, self-service analytics, and timely preparation and updating of budgets

and forecasts



award

5. EXCELLENCE IN TALENT MANAGEMENT





Criteria: The Excellence in Talent Management is given to a CFO who has achieved

outstanding business outcomes by outstanding recruitment, development and retention of a

finance team that focuses on the domains of finance, operations and strategy. Among

others, the CFO:

collaborated effectively with HR to assemble, nurture and retain a finance team

whose size is appropriate for the company and which possesses capabilities not only

for finance tasks but also to partner with operations and support the CFO on strategy

issues

achieved best-in-class talent management metrics such as low attrition, high revenue

and profit per full-time equivalent (FTE) and a sustainable mix of millennials, Gen X

and older generations in the team

ensured smooth staff movement by deploying and nurturing succession planning

and open communications with the team on external hiring into senior positions



award

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PARTNER OF THE YEAR AWARDS

DETERMINED BY READERS’ VOTES

Who should be nominated: Service providers in the relevant category

Who should submit nomination: CFOs, other finance professionals, service providers

(nominating themselves or another company)

Who determines the awardee: CFO Innovation editors will review the nominations and

assemble a short list for each category. CFO Innovation readers will then be invited to vote

in an online survey. Only readers who are finance executives are eligible to vote.

Criteria: Eligible CFO Innovation readers are asked to vote with reference to the following

criteria:

products and services that are fit for the purpose

innovative solutions customized to the company’s requirements

superior after-sales customer service

cost-effective pricing vis-à-vis return on investment

focus on long-term working relationship

track record as a financially viable enterprise

1. BEST IN AUDIT SERVICES

An accounting firm that provides innovative audit services to businesses in Asia Pacific

2. BEST IN TAX ADVISORY

A firm that provides effective and compliant tax advisory services to businesses in Asia

Pacific

3. BEST IN RISK MANAGEMENT ADVISORY

A service provider that helps businesses in Asia Pacific design and implement a risk

management framework that covers financial risk, supplier risk, fraud risk, cyber risk

and other risks.

4. BEST TRADE CREDIT INSURANCE PROVIDER

An insurance company that extends innovative, cost-effective and value-added trade

credit insurance coverage to businesses in Asia Pacific

5. BEST GENERAL INSURANCE PROVIDER

An insurance company that extends innovative, cost-effective and value-added general

insurance coverage (e.g., property, fire, workman’s compensation and liability

insurance) to businesses in Asia Pacific

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6. BEST INSURANCE BROKER

An enterprise risk management specialist that designs and deploys innovative, cost-

effective and appropriate insurance coverage for businesses in Asia Pacific in the

context of a comprehensive risk management program

7. BEST IN PAYROLL OUTSOURCING

A third-party BPO service provider that takes over the payroll process of Asia Pacific

businesses with 100% accuracy, timeliness and cost-effectiveness

8. BEST IN F&A OUTSOURCING

A third-party BPO service provider that takes over the financial processes of Asia Pacific

businesses, such as order-to-invoice, procure-to-pay and record-to-report

9. BEST IN FINANCE AUTOMATION

A service provider that helps Asia Pacific businesses automate finance processes

through technology solutions such as robotic process automation, procurement

automation, expenses automation and other automation solutions

10. BEST IN F&A RECRUITMENT

A service provider that helps Asia Pacific businesses recruit the most appropriate talent

for the finance team, including CFOs, financial controllers, treasurers and finance

specialists

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EDITORS’ CHOICE AWARDS

DETERMINED BY CFO INNOVATION EDITORS

Who should be nominated: Outstanding transformative projects involving service providers

and the office of finance in the relevant category

Who should submit nomination: Service providers, CFOs, other finance professionals

Who determines the awardee: CFO Innovation editors will review the nominations and select

the nominee that in their judgment deserves the award

Criteria: Each nomination will be assessed according to the following criteria:

scope and objectives of the project

challenges encountered and how these were surmounted

design and deployment of the program, including technology component

people aspects, including change management and training

outcomes such as cost savings, enhanced productivity, timeliness

cost-effective pricing vis-à-vis return on investment

1. EXCELLENCE IN CYBER SECURITY TRANSFORMATION

An Asia Pacific project with a technology provider and management consultant to put

in place an effective cyber security program designed to protect against hacking and

theft of data, including deployment of technology solutions, best-practice security

processes and employee training and change management

2. EXCELLENCE IN RISK MANAGEMENT (CYBER INSURANCE)

An innovative insurance deal designed to help an Asia Pacific organization cope with

the negative impact of attempted or actual ransomware attack and other cyber

intrusions, including assessment of the company’s security capability and systems

and advice on how to fix the gaps

3. EXCELLENCE IN TRANSACTION BANKING

An Asia Pacific project designed to eliminate redundant cash management processes,

simplify those that are unduly complicated, standardize and automate what remains

and deploy technology solutions towards the end of achieving global cash visibility,

timeliness of information, control and compliance

4. EXCELLENCE IN TRADE FINANCE

A transaction with an Asia Pacific client that provided not only trade insurance

coverage but also real-time counterparty and other risk information, technology

support (e.g., blockchain) and other value-added services that improved trade

processes and the bottom line

5. EXCELLENCE IN ROBOTIC PROCESS AUTOMATION

A project with an Asia Pacific company that proved RPA as a viable tool in the finance

function or other parts of the organization (pilot basis) or a full-scale deployment

that has resulted in lower costs, more accurate processing and faster achievement of

deadlines – and freeing finance staff to focus on more value-added activities

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6. EXCELLENCE IN TREASURY MANAGEMENT TRANSFORMATION

An Asia Pacific project to modernize treasury management by the swift and smooth

deployment of technology solutions, toward the end of timely deployment of funds

across borders, including markets that restrict currency movements, and appropriate

investment of idle funds

7. EXCELLENCE IN ANALYTICS TRANSFORMATION

An Asia Pacific project designed to clean up company historical and current data and

deploy technology solutions to access and automatically extract siloed internal data

and source external information for analysis, towards the end of generating business

insights for action by the various parts of the organization

8. EXCELLENCE IN BUDGETING TRANSFORMATION

An Asia Pacific project designed to speed up planning and budgeting by eliminating,

simplifying and automating financial and other business processes, and deploying

innovative techniques and methodologies (e.g. zero-based budgeting), towards the

end of making planning and budgeting timely, flexible and responsive to rapid

changes in the business and macro-economic environment

9. EXCELLENCE IN ERP TRANSFORMATION

An Asia Pacific project to modernize enterprise resource planning, including swift

and smooth deployment of an on-premise, public cloud or hybrid technology

solution, towards the end of allowing finance to automatically extract information for

end-to-end procurement, payables, accounting, reporting and other processes

10. EXCELLENCE IN FOREX MANAGEMENT TRANSFORMATION

An Asia Pacific project to enable a company to effectively manage foreign exchange

risk by acquiring timely global visibility into forex holdings and obligations, and

deploying an appropriate hedging program

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NOMINATION GUIDELINES

1. The nomination forms for the three award categories are at the end of this document.

Please complete the nomination form as fully as possible. All information will be kept

strictly confidential and used only for the purpose of judging these awards.

2. Completed forms may be submitted via:

a. Email in PDF format only to [email protected] ; or

b. As hardcopy mailed to:

CFO Innovation Award Nominations

Questex Asia Limited

13/F, 88 Hing Fat Street,

Causeway Bay, Hong Kong

3. Nominations must be completed and submitted no later than 3 August for the CFO of

the Year Awards. Nominations and filling in of detailed information for the Editors’

Choice Awards should be submitted no later than 28 September. Nominations for the

Partner of the Year Awards are already closed; voting starts on 3 September.

4. All submission queries and supplementary information should be directed to CFO

Awards at [email protected].

5. The judging committees’ decision is final. All information collected during the

submission will remain confidential.

6. Winners will be announced in December 2018 with the awards ceremony taking

place in Singapore.

For more information, please contact Teresa Leung, Senior Editor, CFO Innovation at +852

2589 1336 or email [email protected]

mailto:[email protected]



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NOMINATION FORM

CFO OF THE YEAR AWARDS

Submission Deadline: 3 August 2018

NOMINATOR INFORMATION CONTACT PERSON NAME:

Company

CONTACT TELEPHONE NO.:

TITLE AS IT APPEARS ON BUSINESS CARD:

EMAIL ADDRESS (CORPORATE EMAIL ONLY – YAHOO OR GMAIL ACCOUNTS, ETC. WILL NOT BE ACCEPTED)

INFORMATION ABOUT THE NOMINEE NAME: TITLE: COMPANY: PHONE NO.: EMAIL:

AWARD CATEGORY (PLEASE CHECK)

CFO of the Year

Excellence in Finance Transformation

Excellence in Financial Planning & Analysis Excellence in Technology Excellence in Talent Management

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NOMINATION FORM

EDITORS’ CHOICE AWARDS

Submission Deadline: 28 September 2018

NOMINATOR INFORMATION

CONTACT PERSON NAME:

Company

CONTACT TELEPHONE NO.:



INFORMATION ABOUT THE SERVICE PROVIDER INVOLVED IN THE PROJECT


Company

CONTACT TELEPHONE NO.



INFORMATION ABOUT THE CLIENT COMPANY INVOLVED IN THE PROJECT


Company

CONTACT TELEPHONE NO.



AWARD SUBMISSION INFORMATION AWARD CATEGORY (PLEASE CHECK)

Excellence in Cyber Security Transformation Excellence in Risk Management (Cyber Insurance) Excellence in Transaction Banking Excellence in Trade Finance Excellence in Robotic Process Automation Excellence in Treasury Management Transformation Excellence in Analytics Transformation Excellence in Budgeting Transformation Excellence in ERP Transformation Excellence in Forex Management Transformation Other category [Please specify]

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ABOUT THE NOMINATED PROJECT

1. WHAT WERE THE SCOPE AND OBJECTIVES OF THE PROJECT, AND WHAT WERE THE PROBLEMS THAT

PROMPTED THE FINANCE DEPARTMENT TO EMBARK ON THE PROJECT?

2. What were the challenges encountered in design and deployment, and how were these

surmounted?

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3. How were the people issues dealt with, including winning buy-in from the people who would

be using the solution and training them in the new system and processes?

4. What are the outcomes of the project, including cost savings, enhanced productivity, early

deadlines?

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5. What is the total all-in cost of the project and what has been the ROI on it?

6. Other relevant information

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