Techcombank Scores a ‘Hat-Trick’ with its C-Cash Treasury Solution: A Trio of International Accolades!

Techcombank’s innovative treasury management solution, C-Cash, has been recognized by Corporate Treasurer magazine in two prestigious categories: “Most Innovative Treasury Initiative” and “Best for Sustainable Treasury Solutions.” The awards ceremony, held in Hong Kong on December 3, 2024, highlighted the exceptional features and impact of the C-Cash platform.

In November 2024, Treasury Today magazine also acknowledged the remarkable achievements of Hoang Duc Pharmaceutical and Medical Equipment Company (“Hoang Duc”) at the Adam Smith Asia Awards 2024. Hoang Duc stood out among over 400 nominees, including prominent multinational corporations, to win in the “Harnessing the Power of Technology” category. This recognition underscores the successful digital transformation in treasury management that Hoang Duc has achieved through its collaboration with Techcombank and the implementation of the C-Cash solution.

By adopting the C-Cash treasury management solution, Hoang Duc demonstrated its strategic vision in leveraging cutting-edge technology for its financial operations. C-Cash, Techcombank’s unique offering, has enabled Hoang Duc to optimize its capital management processes, resulting in enhanced efficiency and transparency in their business activities.

C-Cash: Pioneering Technology Empowering Businesses

C-Cash, as a comprehensive integrated solution, showcases Techcombank’s commitment to digitizing corporate financial operations. It combines advanced technology, intelligent data, and a deep understanding of the market, reflecting the bank’s forward-thinking approach.

Built on a state-of-the-art technology platform provided by Kyriba, a global leader in financial management solutions, and incorporating a modern financial management framework designed by PwC Vietnam, C-Cash delivers an exceptional financial management experience. It provides real-time reporting and automates manual processes such as data aggregation, reporting, and planning. Since its launch in June 2023, the platform has supported over 100 chief financial officers from diverse industries, helping them save time, optimize cash flow, and increase profits from idle funds.

Moreover, through online courses, financial management benchmarking tools, and guidance on establishing standard operating procedures, the Techcombank solution empowers its clients to develop a professional financial team within their organizations.

In the first year of implementation, C-Cash has helped companies with multiple branches and subsidiaries save an average of 160+ hours per month in report consolidation, increase profits from idle funds by 3-5 billion VND, and reduce working capital requirements by up to 47%, underscoring the solution’s effectiveness and high applicability in business operations.

Mr. Phan Thanh Son, Deputy General Director of Techcombank, shared, “The hat-trick of awards from Corporate Treasurer and Treasury Today magazines reaffirms our commitment to innovation and creativity in delivering advanced and sustainable financial solutions to our corporate clients. With our vision of ‘Transforming Finance, Elevating Life,’ we aim to build a flexible and adaptable system of financial management solutions that cater to the unique needs and scales of businesses. Our superior services, solutions rooted in business realities, and leadership in digitalization are key factors in our journey to becoming the primary transaction bank for Vietnamese and international enterprises.”

Empowering Businesses Towards Sustainable Growth

C-Cash is not just an effective financial management tool but also supports businesses in achieving their sustainability goals (ESG). By reducing resource waste and improving financial management efficiency, C-Cash aligns with Techcombank’s commitment to building strong relationships with its clients and solidifying its position in the regional financial market.

In addition to the “Most Innovative Treasury Initiative” award, C-Cash was also recognized with the “Best for Sustainable Treasury Solutions” award at the Corporate Treasurer Awards 2024. This accolade not only acknowledges Techcombank’s pioneering role in promoting digital transformation and bridging the gap between medium-sized enterprises and world-class treasury management tools but also highlights the bank’s contribution to supporting businesses in achieving their sustainability goals. This includes enhancing corporate governance through standardized processes and policies, developing human resources through comprehensive training programs, and advancing the overall maturity of the market through community initiatives with the Vietnam CFO Association and the National Association of Accountants.

The recognition received at these international awards not only validates Techcombank’s relentless efforts but also marks a significant step forward in integrating Vietnam’s financial industry into the global landscape. With its strategic vision of “Transforming Finance, Elevating Life” and robust technological foundation, Techcombank remains committed to its mission of becoming a trusted partner for businesses at every stage of their growth journey.