BP Finance received the 2002 International Award of Treasury Excellence from EuroFinance and the Association for Financial Professionals (AFP). The award, presented during a reception at the 11th Annual Three-Day Conference on International Treasury Management in Amsterdam, is bestowed upon organizations whose finance and treasury departments implement international solutions that contribute to the company’s financial success. BP Finance was recognized for innovation in technology and process improvement following its mergers with Amoco, Arco, Castrol and Vastar. The company was challenged to centralize treasury functions, which at the time were located in Chicago and London. The BP Finance team successfully standardized, simplified and automated its centralized group funding structure, operational cash and banking processes and systems. ‘Internationally, treasury and finance departments are implementing creative solutions that redefine business functions and achieve dramatic improvements in efficiency,’ said AFP’s President and CEO Jim Kaitz. ‘And because a company’s success is weighed heavily on the financial professional, BP Finance’s commitment to enhancing corporate performance and creating a world-class operations structure is to be commended.’
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