Gold Award: When GE announced that it was spinning into three separate companies, the soon-to-form GE HealthCare Technologies had one year to build a treasury function from scratch. Historically, GE had run a highly centralized treasury group that was set up to serve a range of businesses, including GE Capital, a $500 billion bank. As GE HealthCare began staffing its new treasury team, they took a data-driven approach to designing the processes and systems they would need to effectively and efficiently manage treasury for a large healthcare technology organization.
Silver Award: Subway didn’t spin off into a new business, but a few years ago, the cash management and foreign exchange (FX) functions at the $10-plus billion company operated in much the same way they had since its founding in 1965. When a new management team took over, they endeavored to transform cash visibility, investment of excess cash, and FX management. They automated many of the company’s legacy manual processes and greatly enhanced the treasury team’s strategic value to Subway.

These companies’ initiatives were challenging, to say the least, but both came out with treasury groups that serve as strong partners to the business. And that is something every treasury function should have on its radar. “Transformation is not a one-year project,” says Aditi Agarwal, global operations lead and treasury chief of staff at GE HealthCare. “It’s a journey. There are many creative ways of completing treasury tasks, and as treasury professionals, we should continuously challenge ourselves to do things better.”

Instant Insights /

2024 Alexander Hamilton Awards: Treasury Transformation

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