On June 22 in London, the Etihad treasury team received its latest accolade at the highly prestigious Treasury Today Adam Smith Awards.
Adam Boukadida, Etihad Airways Acting Group Treasurer, said: “We are delighted that Etihad’s treasury transformation project continues to be recognized, winning highly commended in the best risk management category at the Adam Smith Awards. OpenLink is a key foundation and strategic platform for us to manage all our daily treasury and risk management activity as the business evolves.”
In April 2016, OpenLink announced its selection by Etihad in its move to consolidate its fuel risk management and treasury business into a single strategic platform. Managing these functions in one system instead of its previous two, was intended to provide senior managers with a consolidated view of operations and treasury activities such as; dealing (management of interest, currency and commodity risks), risk management, cash liquidity and working capital management, back office operations, corporate finance and insurance.
The relationship has gone from strength to strength, and follows a highly successful year for OpenLink in the corporate treasury market. It has secured over 10 new client projects for top-tier commodity intensive corporates, replacing incumbent solutions no longer capable of supporting modern day business requirements. In 2017 OpenLink was named Best Treasury Analytics Solution in the Treasury Management International Awards.
“For CFOs and treasurers in commodity intensive corporates, from airlines to food and beverage to manufacturers, access to top-quality analytics and full visibility has never been more important. In an environment of increasingly volatile markets, highly variable input prices and regulation, treasurers must have the technology in place to be masters of big data. It is now at the core of their role, and having the tools to manage and analyze historical and current data is a necessity rather than a luxury.” said John O’Malley, CEO of OpenLink.