Treasury 2030: Transform or Risk Irrelevance

The corporate treasury stands at a crossroads. Within six years, the function must evolve from its traditional role managing cash and risk into a strategic powerhouse driving business growth – or risk irrelevance.

A new Citi report reveals this stark choice facing treasurers. While 93% expect significant advancement in their function by 2030, more than half remain uncertain about how to get there. The challenge is daunting: transform treasury operations into a 24/7, AI-enabled strategic partner while maintaining core responsibilities of risk and liquidity management.

The transformation requires rebuilding treasury from the ground up. Legacy technology systems – identified in the report as the biggest barrier to change – must give way to real-time platforms. Treasury teams need new skills spanning data science and strategic partnership. Even the basic concept of when treasury operates is changing, with 24/7 operations replacing traditional banking hours.

For many companies, current technology infrastructure and organizational structures aren’t equipped for this future. The report identifies poor data quality and lack of resources as major roadblocks, alongside legacy systems.

The vision for 2030 goes beyond modernizing technology. Treasurers must become central to strategic decision-making, bringing unique insights about financial risk, liquidity management, and capital deployment to support business growth.

“Treasury brings a unique combination of expertise encompassing financial risk management, liquidity management, capital and returns implications, and scenario thinking,” the report states. This expertise positions treasury to take a leading role in analyzing risk versus returns for major business decisions.

Real-time operations will define the future treasury. Companies are moving away from traditional banking hours and batch processing toward instant, always-on treasury management. This shift requires rethinking everything from how cash is moved to how decisions are made.

Artificial intelligence will be crucial to this transformation. The report envisions AI automating routine tasks while supporting faster, more informed decision-making. Like modern aircraft, where autopilots handle routine operations while pilots manage overall strategy and intervene when needed, future treasury teams will supervise AI systems that handle day-to-day operations.

The technology landscape supporting this vision remains fragmented. The report calls for greater collaboration between banks, technology providers, and treasury teams to create more integrated, real-time solutions. Legacy systems need to be replaced with modern platforms that can support 24/7 operations and AI-driven insights.

The skills challenge may be the most profound shift of all. While core treasury competencies remain vital, the 2030 treasury team will need expertise in data science, technology, and business partnership.

Companies need treasury professionals who can interpret data, understand AI capabilities, and communicate strategic insights to business leaders. This represents a significant change from traditional treasury roles focused on cash management and risk mitigation.

“As an organization, we need to have a complete mindset shift,” says Sandra Ramos Alves, Senior Vice President & Treasurer at Bristol Myers Squibb. “The AI and the technology is not here to replace us. It’s to help us augment our thinking, provide better analysis so that we’re making smart and timely decisions.”

The transformation demands investment in both technology and talent. The report suggests treasury teams will need to upskill existing staff while recruiting professionals with new capabilities. Organizations must decide how to balance traditional treasury expertise with emerging technical skills.

Success in 2030 will require treasury teams to embrace constant change. As UPS Global Treasury President Jen Powers explains, treasury needs people who are “not afraid to break things and reinvent them, to make them more future-focused.”

For corporate treasurers, the message is clear: transform now or risk becoming irrelevant. The report suggests that by 2030, leading treasuries will be strategic partners driving business growth through real-time operations and data-driven insights.

Success requires action on multiple fronts. Treasurers must upgrade technology infrastructure, develop new capabilities, and position themselves as strategic partners within their organizations. This means closer collaboration with technology providers and banks to create integrated solutions that support 24/7 operations.

“The road to 2030 is filled with opportunity for those that boldly embrace the challenge,” says Shahmir Khaliq, Head of Services at Citi. The alternative – maintaining the status quo – risks leaving treasury unable to meet the demands of an increasingly real-time, digital business environment.