Casey Kernan, Ernst & Young Americas Treasury Leader for Financial Accounting Advisory Services, is sounding the alarm on the transformative shift facing corporate treasurers, urging companies to empower these financial stewards as strategic partners.
In a statement, Kernan emphasized, “Treasurers increasingly have a mandate to manage risk, optimize liquidity, and support strategic decision-making—a far broader remit than in the past. But many are still not fully empowered to deliver on their potential.
Closing this gap means giving treasurers the tools to act not just as operators, but as strategic partners, equipped with the insights, technologies, and visibility needed to drive long-term value.”
A new EY survey underscores Kernan’s insights, revealing that 83% of corporate treasurers anticipate dramatic changes to their roles by 2030, a prediction echoed by 84% of CFOs who see value creation as a cornerstone of the future treasurer position.
This evolution includes unlocking additional cash reserves, delivering strategic insights, collaborating on enterprise-wide initiatives, and nurturing finance talent—shifting the focus from traditional cash management to business growth.
ALSO READ: PROCTER & GAMBLE HEALTH NAMES SHASHANK SROWTHY AS NEW CFO
The adoption of cutting-edge technology is already reshaping the treasury landscape, with 70% of treasurers routinely leveraging artificial intelligence for financial forecasting and cash management. Kernan notes this trailblazing trend as a testament to treasurers’ adaptability yet highlights significant hurdles.
Many report being bogged down by ongoing operational duties and a lack of time to upskill, hindering their ability to fully embrace their expanded roles.
Kernan’s call to action is clear: equipping treasurers with advanced tools and strategic autonomy is critical to unlocking their potential. “The future of treasury lies in empowerment,” she asserts, urging organizations to invest in technology and training to bridge the gap. As businesses navigate an increasingly complex financial environment, EY’s leadership sees treasurers as pivotal players in driving sustainable growth, provided they are given the resources to thrive.
