One of the core responsibilities of any treasury team, cash management may seem a fairly stable area of the business. But in today's evolving corporate environment, those managing cash flows have to be just as innovative as everyone else in the organization.

The regulatory environment is subject to change at any time, as evidenced by last year's money market reforms. The constantly changing technology landscape means companies need to constantly re-evaluate whether their solutions are still right for their organization. And in a function where staffing is almost always tight, optimizing efficiency remains an ongoing goal.

These pressures lead many treasury teams to embark on initiatives to improve their liquidity management practices. Two highly successful examples of these initiatives are this year's winners of the Alexander Hamilton Awards in Liquidity Management.

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Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.