29 November 2017 – Metso Corporation beat the field to win the Gold Award at the 2017 Supply Chain Finance Awards. For the second year, the Awards attracted entries from around the world, with a shortlist of five winning or being highly commended in their categories. Metso Corporation was selected as this year’s overall winner.
The awards – kindly sponsored by ING – were presented at the conclusion of the SCF Europe Forum 2017 at the Beurs van Berlage, Amsterdam.
Main photograph, left to right: Soraya Ahmed, CEEMEA trade sales head, Citi; Mikko Vainikka, director, treasury market operations and cash management development, Metso Corporation; Andrew Burns, director, business development, C2FO; Michiel Steeman, chair of the Supply Chain Finance Community and of the Awards judging panel
Metso also won in the Manufacturing and industrial category. The judges were full of praise for Metso’s twin track approach which offered conventional supply chain finance as well as dynamic discounting, enabling it to cover the full scope of its spend by making available the most appropriate option for each supplier. Mann & Hummel was highly commended.
“A world class solution for our suppliers”
The key to Metso’s success, thought Mikko Vainikka, director of treasury market operations, was that the company offered two solutions, enabling the company “to capture the whole spend curve, from the big spend suppliers to the medium and small-sized spend,” he told SCFBriefing.com.
For his team, the Supply Chain Finance Awards win means “great recognition for all the stakeholders who put a huge amount of work into this programme – procurement, our shared services centre, finance and treasury as well.”
Metso’s suppliers should be pleased by the win as well: “I hope they will see that we are able to provide a world class solution for them.”
The Affiliated Hospital of Qingdao University was also highly commended for its implementation of a supply chain finance programme that significantly lowered financing costs across the supply chain and enabled the hospital to lower its purchase costs and ensure timely delivery of essential medical products.
Innovation is what keeps the supply chain finance industry moving ahead and there were no fewer than three organisations recognised for their cutting edge technologies: TradeIX, TrustBills and Taulia.
The Leader of the Year Award was given to Robert Barnes, the founder of TradeIX who previously was a founder of PrimeRevenue.
Summing up this year’s entries, chairman of the judging panel and Supply Chain Finance Community chairman Michiel Steeman praised both the calibre of this year’s successful entrants and their geographic spread. “It’s exciting to see entries coming in from China in this year’s awards,” he said. “It’s proof of the rapid development of supply chain finance in that part of the world.
The Awards were judges by an independent panel of experts, including a number who were winners in 2016:
- Prof Michiel Steeman, Windesheim University (chair)
- Prof Dr Michael Henke, Fraunhofer Institute (vice chair)
- Frank Waechter, senior head of group treasury and insurance, PUMA
- Alexander Pawellek, head of supply chain finance, Lufthansa
- Tatiana Kuznetsova, assistant treasurer, X5 Group