Creates a Seamless Workflow for Cash Forecasting, Short-Term Investments, Reporting
Bandwidth Inc., a cloud-based communications platform-as-a-service company, won a 2021 Alexander Hamilton Award for transforming its treasury organization with an API integration launched earlier this year between ICD, an independent portal provider of money market funds and other short-term investments, and Trovata, a leader in automating cash reporting and forecasting through wholesale, multi-bank API data aggregation. The winning project created a seamless workflow for cash forecasting, short-term investments and reporting.
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“New API technology is carrying the industry forward, but it still takes the ingenuity of treasury professionals to imagine their own worlds and ask themselves – what does success look like,” says Bandwidth Treasurer Scott Taylor. Taylor worked with ICD, Trovata and HSBC to establish an infrastructure that was easy to implement and designed to scale. “We were deliberate in choosing partners that mirrored our own values for speed, service and collaboration,” he says.
This is a much-deserved win for Scott and his team,” says ICD CEO Tory Hazard. “We’re happy that Scott leveraged ICD’s partnership with Trovata to build the kind of treasury organization he wanted at Bandwidth. ICD has been co-innovating with clients from day one, making improvements to the application that broadly benefit ICD’s client base.”
The award win puts Bandwidth’s project in the finals for receiving bronze, silver or gold status during a webinar in the spring with Alexander Hamilton Awards organizer, Treasury and Risk magazine.
The Treasury Transformation category celebrates projects that have achieved noteworthy success through a major revamp of corporate treasury processes. The Alexander Hamilton Awards is in its 25th year and celebrates companies taking big leaps forward in treasury, finance, or risk management through process innovations and technology implementations.
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