From real-time payments to straight-through processing of reconciliations,and from extended terms to emerging options such asvirtual cards, payments innovation is one ofthe hottest topics in corporate treasury today. That explains whythe competition was fierce in this year's contest for the AlexanderHamilton Awards in Working Capital & Payments.

The companies that stood out from the crowd were those that notonly pursued leading-edge technologies and ideas, but alsotransformed processes in an effort to standardize and centralizepayments. "[Our] new process is very streamlined," says Jeff May,former supervisor for global treasury at Amway. "Like always, thereare exceptions. In certain countries, local requirements mandatethat specific payments go through processes that are not ourstandard workflow. But for the vast majority of our payments aroundthe world, we've eliminated a lot of unnecessary steps that used towaste time and cause payment delays in our legacy environment."

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.