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Treasury is not what it used to be, and that’s all thanks to a convergence of new technologies, changing values, and the push for more inclusivity. Formerly a primarily back-office function where treasurers focused solely on the numbers, treasury is becoming more of a strategic, tech-driven role. 

As we get ready for 2025, Trade Finance Global (TFG) spoke with our Editorial Board Member Eleanor Hill to explore the biggest trends in the world of treasury: technology, ESG, DEI, and the power of people.

Treasury meets technology: the new normal

In the past, treasury was defined by its heavy reliance on spreadsheets and manual calculations. Tedious processes often made it difficult to innovate, leaving treasurers with the same set of challenges year after year. 

Now, all of that is changing. 

Technology, particularly artificial intelligence (AI), is transforming the way treasurers do their jobs and also the expectations placed upon them. AI has evolved far beyond just automating mundane tasks; it is helping treasury teams dive deeper into forecasting, risk management, and even policy formulation.

Hill said, “If you speak to treasurers about what they want to fix with AI, it’s cash flow forecasting. The cash flow forecasting has been the number one issue for people for as long as I’ve been writing about treasury.”

These innovations have led to impressive strides in real-time liquidity forecasting, predictive analytics, and even making AI a kind of personal assistant—offering insights and drafting preliminary strategies. 

But with great power comes great responsibility.

Hill said, “There’s a lot of interesting applications of AI going on for sure, but always with caution.”

AI isn’t just a set-it-and-forget-it solution; it brings with it ethical concerns and new complexities. Questions about energy consumption and inherent biases in data are critical to the conversation, especially when AI usage is scaling across industries. 

As technology becomes more deeply embedded in treasury functions, treasurers must embrace the potential of AI while staying vigilant about its broader impacts. This new normal requires an ability to think critically about the role of technology in corporate finance, making it crucial for treasury teams to build robust governance around data use, privacy, and AI implementation. 

ESG: the comeback story?

Two years ago, it felt like ESG (environmental, social, and governance) initiatives were at the heart of every corporate conversation, especially within treasury. Sustainability was a priority, and treasury teams were eager to align their financing and supply chain solutions with broader ESG goals. 

But in 2024, the enthusiasm seemed to fade. The conversation around ESG was more subdued, with companies appearing to step back from their earlier commitments. 

Hill said, “There’s been a lot of concern around greenwashing, and there’s this new trend of green hushing. There are a couple of ways of it people might hush up what they’re doing as a defensive move, or people are just doing it passively. But it is filtering into treasury.”

Despite this dip, there are reasons to believe that ESG could make a strong comeback in 2025. Regulatory pressure is mounting, and treasurers are realising that sustainability is more than just a checkbox on a form. 

When viewed through a strategic lens, ESG doesn’t have to mean sacrificing profits or adding a layer of bureaucracy. Instead, it represents an opportunity for long-term growth, resilience, and alignment with stakeholder expectations.

Hill said, “When you look at ESG investments, people tend to think that, ‘Okay, I’m going to be compromising my investment performance by choosing an ESG investment.’ But that is not necessarily true.”

The regulatory environment, particularly in Europe, is pushing companies to rethink how they report on and integrate sustainability into their core operations. Treasurers have the unique role of linking these regulatory requirements with actionable, finance-driven solutions, helping their organisations turn ESG from a buzzword into a core business strategy.

The hope is that 2025 will see treasury teams once again leading the charge towards more sustainable finance. They have the ability to shape corporate behaviour, influence supply chain practices, and ensure that financial products align with a company’s long-term ESG goals. 

Diversity in treasury: still a long road

When we think about the treasury sector, it’s impossible to ignore the lack of diversity. Treasury, particularly at the leadership level, has long been dominated by men. Despite more women entering the industry in recent years, there is a clear drop-off in senior positions.

Hill said, “If I look back at the panels that I’ve moderated over the last year or so, they were 90% men, and it’s probably 80% white. There’s a huge discrepancy in terms of the general population and the people that are coming into treasury.”

The pipeline is there, but the glass ceiling remains a significant barrier. Diversity, Equity, and Inclusion (DEI) initiatives are crucial for ensuring that a diverse range of voices is not only heard but also represented in decision-making roles.

Diversity is not just about getting women and underrepresented groups into treasury roles; it’s about ensuring they stay, thrive, and lead. One of the ways to achieve this is through increased visibility. If young professionals cannot see themselves in leadership roles, it’s hard for them to aspire to them.

Hill said, “If you can’t see it, you can’t be it. It’s that element. Making sure that we really are showcasing the talent that’s out there.”

Interestingly, the rise of AI adds another layer to the diversity challenge. Studies show that men are using AI tools at work more frequently than women, which is starting to create a gap in productivity and opportunity. If this trend continues unchecked, the treasury sector may see further disparity, rather than progress, when it comes to DEI. 

Skills for the future: it’s about the people

Once, the treasurer’s role was defined by technical skills—deep knowledge of cash management, risk, and balance sheets. Today, the job is evolving into something far more dynamic. 

Treasury professionals are no longer hidden in the back office; they are sitting at the table with the C-suite, making strategic decisions that impact the entire company. The skills required for this transformation are not purely technical; they are increasingly about the ability to communicate, connect, and think strategically.

The role is now less about crunching numbers and more about asking what these numbers mean for the business and how they can be used to drive strategy forward.

Treasurers are now tasked with telling the story behind the numbers, and translating data into insights that support business growth. This makes skills like data storytelling, emotional intelligence, and the ability to influence stakeholders absolutely crucial. 

The treasurer’s role has never been so people-focused. Investing in human capital, ensuring well-being, and prioritising continuous learning are no longer nice-to-haves; they’re essential elements of a thriving treasury team. 

The future of treasury is about balancing technical acumen with a deep understanding of people—both the teams they lead and the stakeholders they serve.

Hill said, “Focus on your people. They are the ultimate corporate asset, not your data.”

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Treasury is changing, and fast. The days of being confined to spreadsheets are long gone. Treasury professionals are stepping into a broader, more influential role within their organisations, driving strategy through technology, sustainability, diversity, and people-centric leadership. 

The challenges are many—ethical AI use, bringing ESG back to the forefront, ensuring diversity truly becomes embedded in corporate culture, and adapting to an ever-expanding skill set. But these challenges are also opportunities for treasury teams to reshape their roles and, by extension, the future of their organisations. 

As we look towards 2025, it’s clear that the future of treasury isn’t just about managing finances; it’s about leading change—in technology, in sustainability, and in people.