1 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
Who should submit nomination: CFOs (nominating themselves or another CFO), other
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
Who should be nominated: CFOs of stand-alone companies, regional, country and business-
unit CFOs, finance directors and vice-presidents of finance
Who should submit nomination: CFOs (nominating themselves or another CFO), other
finance professionals, service providers
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
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
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4. EXCELLENCE IN TECHNOLOGY
Who should be nominated: CFOs of stand-alone companies, regional, country and business-
unit CFOs, finance directors and vice-presidents of finance
Who should submit nomination: CFOs (nominating themselves or another CFO), other
finance professionals, service providers
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
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
5. EXCELLENCE IN TALENT MANAGEMENT
Who should be nominated: CFOs of stand-alone companies, regional, country and business-
unit CFOs, finance directors and vice-presidents of finance
Who should submit nomination: CFOs (nominating themselves or another CFO), other
finance professionals, service providers
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
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
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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]
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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.:
TITLE AS IT APPEARS ON BUSINESS CARD:
EMAIL ADDRESS (CORPORATE EMAIL ONLY – YAHOO OR GMAIL ACCOUNTS, ETC. WILL NOT BE ACCEPTED)
INFORMATION ABOUT THE SERVICE PROVIDER INVOLVED IN THE PROJECT
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 CLIENT COMPANY INVOLVED IN THE PROJECT
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)
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?