BETHESDA, Md., Sept. 11, 2018 /PRNewswire/ -- BMC
Software, OpenText and Uber Technologies are finalists for the
Association for Financial Professionals' 2018 Pinnacle Award.
Sponsored by MUFG (Mitsubishi UFJ Financial Group NYSE: MUFG), the
Pinnacle Award, established in 1997, recognizes excellence in
treasury and finance.
Finalists were selected by a jury of treasury and finance
professionals. Decisions were based on the entrants' innovative
solutions that helped their treasury and finance operations run
more efficiently and effectively. The AFP Pinnacle grand prize
winner will be announced November 4
at AFP 2018 in Chicago,
November 4-7. Register by
September 28 for additional savings
to the AFP Annual Conference. For any press-related questions,
please contact Melissa Rawak at
mrawak@afponline.org.
"AFP is proud to honor the 2018 Pinnacle Award finalists,"
Jim Kaitz, AFP president & CEO
said. "The treasury and finance teams at BMC Software, Open Text
and Uber truly set the global standard for their peers and their
profession with innovative solutions that serve their organizations
as well as their customers."
MUFG will make a $10,000 donation
to a charity of the winner's choice., Ranjana Clark, Chief Transformation Officer,
Head of Transaction Banking Americas, and Bay Area President for
MUFG and Jim Kaitz, will host the
award ceremony at AFP 2018.
"MUFG is proud to sponsor the Pinnacle Awards to acknowledge
innovation and achievements among treasury and finance
professionals within the industry," said Ms. Clark. "MUFG supports
the AFP's ongoing commitment to education and recognizing
excellence in treasury and finance as exemplified by these Pinnacle
Award finalists."
About the submissions:
BMC Software's entry focused on financial planning and analysis.
The software maker wanted to increase sales of new software
licenses and maintenance contracts. To better measure progress and
help the sales team increase revenue and cross-selling
opportunities, the finance team created a new metric—New Bookings
vs. Renewal Bookings. The home-grown solution, called bSMART,
leverages Tableau and demonstrates how BMC's finance team partners
with the business to drive revenue.
OpenText's submission centered on treasury management. The
company has grown rapidly through acquisitions, leading to more
than 400 bank accounts in over 120 banks—many not fully integrated
into the global treasury center. Moreover, manual processes
dominated. In response, the treasury team launched a process that
automated payments, statements and cash management; rationalized
banks and accounts; and created a global cross-currency pooling
structure to improve liquidity management.
Uber's submission enhanced payments for its drivers. Uber
previously paid drivers once a week via ACH, which was inconvenient
for users. Its new "Instant Pay" process works on demand, every day
via debit card. The new process pays drivers before riders' funds
are deposited—a conscious choice by the company to place employees
above the bottom line.
ABOUT AFP®
Headquartered outside Washington,
D.C., the Association for Financial Professionals (AFP) is
the professional society that represents finance executives
globally. AFP established and administers the Certified Treasury
Professional and Certified Corporate FP&A Professional
credentials, which set standards of excellence in finance. The
quarterly AFP Corporate Cash Indicators serve as a bellwether of
economic growth. The AFP Annual Conference is the largest
networking event for corporate finance professionals in the
world.
View original content with
multimedia:http://www.prnewswire.com/news-releases/uber-opentext-and-bmc-software-are-the-finalists-for-the-afp-2018-pinnacle-award-300709160.html
SOURCE Association for Financial Professionals