Alghanim Industries, one of the largest privately-owned companies in the Middle East and founded in Kuwait, has been recognised at the Adam Smith Awards 2018.
Representing Alghanim Industries, Richard Quinlan, Corporate Controller, Sonal Gupta, Head of International Accounts and Pramod Bhattiprolu, Senior Manager, Corporate Treasury received the award for the Best in Class Treasury Solution in the Middle East category, for completing the Payment Process Excellence project.
Launched and completed within 12 months without compromising workflow, the Payment Process Excellence Project unifies transactions in Alghanim Industries’ 300+ bank accounts, spread across more than 20 business units, with a new system. The new system centralises all payments securely across different business units of Alghanim Industries, working integrally with built-in systems.
This new wide-reaching solution is in line with Alghanim Industries’ ongoing efforts to enhance corporate finance and funding, risk management, governance and cash management across all its businesses and bank accounts.
Having the new system in place automates processes and creates an easier workflow, improving financial visibility and increasing security throughout the transaction process; in essence, implementing the Payment Process Excellence Project has allowed the company to improve its infrastructure in ways that are ground-breaking to the local market.