Raymond Yeo, CFO at Epsilon Telecommunications walked away with the CFO of the Year accolade at the gala ceremony of the 7th Annual CFO Innovation Awards held on Dec 7 at Grand Copthorne Waterfront Hotel in Singapore.
“It’d been a very challenging year at Epsilon. As a business focused on delivering cloud-centric networking solutions, it’s important to have finance functions that match the agility of the services we offer our customers. We also needed a robust finance model that can support all business units across the organization,” said Yeo.
“2019 will be another year of change. I’m sure there will be new challenges but I’m confident in overcoming them together with an amazing team of people at Epsilon. This award would not be possible without their support, and in a way, it is as much theirs as is mine,” the Singapore-based CFO noted. “The role of CFO is transforming, and I think it is important for us, CFOs, to learn to embrace flexibility to better support business transformation and enable innovation. Be curious and continue to explore new ways of doing things beyond our traditional functions.”
Four other senior finance executives from different companies in various Asia Pacific countries also scooped awards in the following categories:
Excellence in Finance Transformation: Thilagavathy Nadason, Finance Managing Director, PT Bank Maybank Indonesia Tbk
“Trying to reinvent finance in this new era of increasing demand, increasing expectations and an almost exponential increase of data points is challenging, to say the least,” said Nadason. “It’s important to continually innovate, become more efficient, and keep working on getting the right information—not data but information—in order to make the decisions that matter.”
Excellence in Financial Planning & Analysis: June Cheryl Cabal-Revilla, CFO, Smart Communications, Inc.
“The deployment of a cloud-based, real-time financial planning system provided by Anaplan allows the finance team to recalibrate budgeting, not only at regular intervals, but whenever the situation calls for it.,” said Cabal-Revilla. “This capability to reassess budgets in the middle of the year enables Smart’s parent company PLDT Group to better steer its course through a fast-changing, complicated, and challenging business environment.”
“Members of the Finance team have thus transformed their bean counter mindset. They now see themselves as empowered business partners, advisers, and value creators who are proactively involved in different business facets and operations,” the Philippines-based CFO added.
Excellence in Technology: Mrs Wanida Boonpiraks, Executive Vice President, Corporate Finance and Accounting, Global Power Synergy Public Company Limited
“I'd like to thank my treasury team and my partner bank, Standard Chartered Bank especially Byron Gardiner, Executive Director, Treasury Solutions who assisted GPSC to set up a world-class cash management solution by developing a supplier database via the “Virtual Accounts for Payments”, which will raise efficiency, reduce cost and enhance cash management control for the company," said Mrs Boonpiraks."This partnership results in us being the first organization in Thailand equipped with this cash management innovation that has made our payment process faster and more visible."
“Going into 2019, GPSC aims to enhance our efficiency through digitization. We believe that we could leapfrog to the next level of digitization," she added.
Excellence in Talent Management: Leonardus Wahyu Wasono Mihardjo, Chief Finance and Business Partner Officer, PT Telekomunikasi Indonesia International (PT Telin)
“The lessons learned in 2018 are very important to how we’d strengthen our financial talent to become business partners in 2019,” said Mihardjo. “There will be 3 strategic initiatives for next year in terms of financial talent management: Continuing the development digital leadership and global talent program; developing a lean financial organization through virtual and share services; and developing a digitization process to support a lean organization, speedier decision making, and analytical capability.”
2018 Board of Judges
The finalists of the above five awards were independently ranked by the 2018 Board of Judges according to a set of criteria. Members of the 2018 Board of Judges include the following executives:
Jacqueline Chan, CFO, DBS Bank (Hong Kong) Limited
Adri Kwee, Managing Partner of KCG, Group CFO of VIP Plaza Pte Ltd
Dennis Tan, EVP &CFO, Asia Pacific, DHL Express Asia Pacific
Partner of the Year and Editors’ Choice Awards
In addition, eight service providers—chosen by CFO Innovation audiences via online voting during September-October 2018—were recognized as Partner of the Year for service excellence in different categories while six projects received Editors’ Choice Award, which recognizes effective collaboration between CFOs and service providers.
Partner of the Year Awards Winners
Best in Audit Services: PwC Singapore
Best in Tax Advisory: PwC Singapore
Best in Risk Management Advisory: Ernst & Young Advisory Pte. Ltd.
Best Trade Credit Insurance Provider: QBE Insurance (Singapore) Pte Ltd
Best General Insurance Provider: Allianz Asia Pacific
Best Insurance Broker: Marsh
Best in Payroll Outsourcing: Accenture
Best in F&A Outsourcing: Accenture
Best in Finance Automation: Fuji Xerox Singapore Pte Ltd
Best in F&A Recruitment: Hays Specialist Recruitment Pte Ltd
Editors’ Choice Awards Winners
Excellence in ERP Transformation: Unit4 Asia pacific & Global Green Growth Institute
Excellence in Treasury Management Transformation: Standard Chartered Bank & Global Power Synergy Public Company Limited
Excellence in Supply Chain Finance: MUFG Bank, Ltd. & PT Wijaya Karya (Persero) Tbk
Excellence in Purchase-to-Pay Transformation: Esker & Luxasia
Excellence in Corporate Performance Management Transformation: Unit4 Asia Pacific
Excellence in Budgeting Transformation: Jedox & Philips China
The CFO Innovation Awards, inaugurated in 2012, recognize Asia's leaders in all aspects of financial management. Nominated and voted on by the audiences of CFO Innovation, the Awards provide an opportunity to celebrate excellence and network with various leading CFOs and partner suppliers. The annual awards ceremony acknowledges not only CFOs and their teams, but also the firms that enable their success with services, support, and technologies.
More information about the awards is available at https://event.cfoinnovation.com/cfo-awards/2018/.