The 2023 cohort of Best Managed Companies are at the forefront of implementing leaner practices, innovation, and improved ESG processes, said Bank of Ireland Corporate Banking senior director Nikki Canavan.
This year eight new businesses were awarded Ireland’s Best Managed Companies accolade at the 15th annual awards programme, led by Deloitte in association with Bank of Ireland, on Thursday night (14 September).
This year, Deloitte recognised 130 indigenous companies at the awards representing 24 of the 32 counties across the island of Ireland.
“With our sustainable finance fund increasing to €4bn by 2024, and our ongoing deployment of green mortgages, green business and corporate lending along with a significant commitment to increase our sustainability related lending, we aim to lead the way in supporting how society faces the challenges ahead”
Deloitte Best Managed Companies Award winners 2023 have combined turnover of €17bn and export sales of €3bn and employ more than 53,000 people nationwide.
As well as sponsoring the awards, Bank of Ireland contributed more than 30 experienced coaches who worked alongside Deloitte to guide the businesses.
The four pillars of becoming a Best Managed Company
Bank of Ireland’s senior director and head of Origination & Sustainability Nikki Canavan
“We have been very impressed at the resilience and flexibility of the participating businesses, and how they have successfully adapted to an ever changing commercial landscape, in particular given the events of the last three years”
Lead partner on the programme Brian Murphy from Deloitte said that it was remarkable how indigenous Irish businesses have been able to find opportunities in change.
“Strengthening governance and recognising the value of specialist expert advice on critical areas such as ESG were key discussion points in the coaching sessions. We also saw companies increasingly focused on innovation driving internationalisation. Despite the uncertainties of the past few years, the confidence of Irish businesses is clear as more and more are scaling their market reach internationally.”
In her speech on the night, Bank of Ireland’s senior director and head of Origination & Sustainability Nikki Canavan said that the 2023 cohort had their foundations built on the four pillars that define the Best Managed Companies programme: Strategy, Culture and Commitment, Capabilities and Innovation and Governance and Financials.
“I echo Brian’s earlier comments regarding the contribution that participating in this programme can provide for strategy development, the sense of community, the brilliant network and of course the international recognition it holds. Of course like most things in life, you get out what you put in – so I encourage all of you to actively engage with the supports available, your coaches and the events organised throughout the year.
“Whilst these are some of the reasons that Bank of Ireland is pleased to be lead sponsor of this programme, there are of course others, including our deep commitment to the business community in Ireland, and our ambition to support businesses across all sectors and segments of the economy to grow and scale. As the No.1 Corporate and Business Bank in Ireland, we are delighted to provide over 30 experienced coaches to work alongside their Deloitte counterparts to guide and support Ireland’s top performing companies, many of whom are valued customers.
“From consulting with the Bank of Ireland coaching team and through my own role on the judging panel, we have been very impressed at the resilience and flexibility of the participating businesses, and how they have successfully adapted to an ever changing commercial landscape, in particular given the events of the last three years.”
Canavan said that businesses are in the vanguard when it comes to climate action. “Climate Change presents a monumental challenge to us all, and at Bank of Ireland we are proud to be playing a leading role in helping our personal, business and corporate customers to make the necessary changes to play their part.
“With our sustainable finance fund increasing to €4bn by 2024, and our ongoing deployment of green mortgages, green business and corporate lending along with a significant commitment to increase our sustainability related lending, we aim to lead the way in supporting how society faces the challenges ahead.”
The four pillars of the Best Managed Companies programme were evident in all the businesses that took part.
“Within those pillars both the judging panel and coaching group have been impressed with how management teams implemented leaner practices, an ever-increased focus on staff wellbeing and the introduction of improved ESG processes, all crucially important.
“At Bank of Ireland, we are committed to enabling Irish companies to grow, innovate and compete. We look forward to further strengthening our relationships with existing customers, as well as welcoming the opportunity to work with the many companies we have developed new relationships with throughout this programme,” Canavan said.