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Transforming the TMT treasurer from sensible to indispensable

Authors

  • Casey Kernan

    EY Americas Treasury Leader, Financial Accounting Advisory Services

  • Adam Blaylock

    EY Americas Financial Accounting Advisory Services (FAAS) TMT Industry and Technology Sector Leader

06 minute read 19 Jan 2026
Related topics
Assurance
TMT
Financial accounting advisory services

In the TMT sector, treasurers are highly confident in their ability to proactively add value but less sure about handling risk. 

In brief
  • Treasury roles are being pushed to deliver more value with fewer resources.
  • In the TMT sector, this imperative to transform and deliver is heightened.
  • How are TMT treasurers enhancing value and transforming their role to remain indispensable?

The role of the treasurer is a bundle of contradictions, with expectations and demands rapidly eclipsing reality. The relentless challenge to do more with less offers a high degree of potential opportunity — for transformative treasurers prepared to find the puzzle pieces and fit them together for bigger-picture value.


In the most traditional sense, treasurers are adept money managers. They develop and implement financial strategies to optimize an organization’s cash flow, enhance profitability and safeguard against financial risks. But in the current business climate, treasurers are increasingly expected to become proactive value creators. A recent global EY survey of nearly 1,000 treasurers, including 40 respondents in the US technology, media and entertainment, and telecommunications (TMT) sector, spotlights this shift, marked by the growing importance of data analysis skills and the need for treasurers to spend more time building the knowledge skills that lead to value creation opportunities.

“There is a clear theme in today’s TMT sector: Organizations are expected to do more with less,” says Adam Blaylock, EY Americas Financial Accounting Advisory Services (FAAS) TMT Industry and Technology Sector Leader. “Treasury functions must demonstrate value by leveraging automation and technology-enabled solutions that drive efficiency, enhance precision and elevate the strategic insights they deliver — especially at a time when some companies are questioning whether to reduce or even eliminate treasury operations.”

1

Chapter 1

TMT treasurers express confidence in their ability to create value

Most describe themselves as value creators, which aligns with CFOs’ strategic expectations.


How EY can help

The EY survey reveals that 85% of CFOs expect treasurers to identify new value opportunities for their organizations. Yet only 52% of all treasurers surveyed currently view themselves as proactive value creators. That discrepancy underscores the need for treasurers to align their roles with the strategic expectations of their CFOs.

 

By contrast, in the TMT sector, the number of treasurers who self-identified as value creators jumps to 93%. Transformative treasurers — those who actively seek to continually redefine their roles — are approximately 60% more likely to believe that their responsibilities will increasingly focus on managing liquidity flow, the cost of capital and enterprise risk.

 

Just 29% of treasurers surveyed say they have full personal responsibility for their organization’s working capital and free cash flow and the factors influencing it. But in the TMT sector, 78% of TMT treasurers say they have full personal responsibility. That indicates that they aren’t just managing money; they are also redefining what it means to create value, drive innovation, manage risk and lead their organizations through uncertainty.

 

Despite the clear expectations, treasurers face several barriers to value creation. The top three challenges identified include managing external relationships with banks or investors, operational responsibilities, and a lack of time to enhance knowledge and expertise. These barriers can hinder treasurers from fully realizing their potential as value creators within their organizations.

 

“Treasury functions can be a siloed niche within finance,” says Casey Kernan, EY Americas Treasury Leader, Financial Accounting Advisory Services. “The transformative treasurer transcends silos to exponentially create, protect and optimize.”

2

Chapter 2

Risk management responses show TMT treasurers are least confident

Yet 43% of CFOs believe financial risk management is becoming an important aspect of the treasurer role.


When it comes to managing risk, TMT treasurers are less confident than their counterparts. According to the recent survey, only 27% of treasurers feel “very confident” that their financial risk management strategies are improving decision-making across their organization. In the TMT sector, that number dips to 15%, the lowest of all sector respondents.

More than half of transformative treasurers and 43% of CFOs believe that the treasurer’s role will increasingly emphasize managing financial risk in the future. In the TMT sector, 38% of respondents believe that the emphasis on managing financial risk will increase significantly in the next five years.

About 40% of treasurers foresee a significant increase in addressing liquidity flow and cost of capital; supporting sustainability and environmental, social and governance (ESG) reporting; and managing cash and banking relationships. Effective risk management is not just a theoretical concept but a practical necessity for financial stability.

3

Chapter 3

Embracing technology and data analytics

Leading-edge tools and processes give treasurers the opportunity to inform decision-making and drive innovation.


Technological advancements, particularly in data analytics and artificial intelligence (AI), represent a sea change for treasury operations. Treasurers who lean into these tools may significantly enhance their cash forecasting, optimize liquidity and hedging strategies, and provide valuable insights that inform enterprise decision-making.

Currently, 82% of treasurers say they frequently use data analytics and visualization tools, yet 65% report not having highly accurate 12-month forecasts. Those using AI benefit from a 7% improvement in forecasting accuracy.

For TMT companies, which are inherently technology oriented, transformative treasurers should continue to drive innovative and effective AI-powered technology solutions that surpass their current capabilities.

4

Chapter 4

Bringing and developing talent

Responses suggest a disconnect between CFOs and treasurers on the subject of developing finance talent.


Developing finance talent continues to be crucial for treasurers in creating value. The EY survey indicates that 26% of both treasurers and CFOs view the development of finance talent through leading treasury expertise as a top priority.

A majority of CFOs believe that the CFO role should be the ultimate career ambition for a treasurer, while 14% suggest aiming for the CEO position. However, there is a gap in perceived leadership development needs, with only 18% of treasurers acknowledging the necessity for additional training in this area, despite 28% of CFOs recognizing the need for support.

“Treasury is already super specialized, and within treasury, you have super specialized people,” says Ross Hardy, Senior Manager, Global Treasury Services, Ernst & Young LLP. “The challenge lies in ensuring that these specialized roles are filled with experienced people who possess the necessary skills to navigate complex financial landscapes.”

Ross Hardy, Senior Manager, Global Treasury Services, Ernst & Young LLP contributed to this article.

Summary 

As the business landscape continues to evolve, treasurers can rise to the challenge by redefining their roles and leading change. By championing sustainability, fostering a culture of innovation and leveraging technology, treasurers can position themselves as trusted business partners who drive organizational success.

Becoming a transformative treasurer is not simply adapting to change; it’s using bold, creative thinking to make change happen. The charge to create organizational value amid uncertainty is hardly new, but uncertainty is also opportunity. Particularly in the TMT space, continuous flux is the norm, and flexing forward is the path toward creating new value.

About this article

Authors

  • Casey Kernan
    EY Americas Treasury Leader, Financial Accounting Advisory Services
  • Adam Blaylock
    EY Americas Financial Accounting Advisory Services (FAAS) TMT Industry and Technology Sector Leader
Related topics
Assurance
TMT
Financial accounting advisory services

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