
Treasury 4.0—buzzword or breakthrough? It is undeniably exciting, but it’s worth asking: are we shaping its future, or are we letting the technologies, trends, and ESG mandates shape us?

Written by Nirav Kanakia

Let’s take a step back. We’ve traveled a long way:
- Treasury 1.0 focused on basic cash and liquidity management.
- Treasury 2.0 centralized functions and strengthened financial controls.
- Treasury 3.0 unlocked automation and the power of data analytics.
Now we stand at the threshold of Treasury 4.0, integrating AI, blockchain, and advanced analytics with a spotlight on sustainability and ESG. The promise is immense—but so are the questions we need to answer.
A Reality Check
Artificial Intelligence (AI) was supposed to change the game for cash forecasting and liquidity management. But many companies are still struggling to make it work in their treasury departments.
- Is the problem a lack of trust in these tools, or are they failing to deliver what was promised?
Blockchain was expected to transform cross-border payments and trade finance. While companies like Shell have demonstrated its potential, most organizations haven’t embraced it yet.
- Is blockchain really the future of treasury, or just a tool for a select few?
Robotic Process Automation (RPA) was designed to handle repetitive tasks, giving treasury teams more time for strategic planning. But many treasurers are still stuck doing routine work.
- Is RPA falling short of expectations, or are we expecting too much from it?

🌍 Sustainability and ESG: Are We Walking the Talk?
Using sustainability and ESG (Environmental, Social, and Governance) principles in treasury sounded like a move toward responsible finance. However, there are growing concerns about “greenwashing”—when organizations claim to be environmentally responsible without real action.
- Are treasurers making real progress in sustainability, or just doing the bare minimum to look good?
💡 Real-World Success Stories: Rare Exceptions or Common Practice?
Big players like IBM and JP Morgan have successfully used Treasury 4.0 technologies. But for most companies, these advancements feel out of reach.
- Is Treasury 4.0 something every organization can achieve, or is it only realistic for the largest and wealthiest companies?
🤷 The Unanswered Questions
As we reflect on the journey of Treasury 4.0, several questions remain:
- Are we truly in control of this evolution, or are we being led by external forces and trends?
- Is the treasury profession adapting to these changes, or are we clinging to outdated practices?
- And most importantly, how do we avoid being swept away by the hype and focus on creating real value?
It’s time for a candid assessment. Where do we stand, and where should we be heading? . 👇
Also Read
- Lessons from 10 Years of Failing to Sell My Dad Treasury Software
- Treasury Contrarian View: Treasury Without Borders—Should Treasury Teams Go 100% Remote?
- Treasury Is Easy; Is It?
- Treasury Contrarian View: Banks vs. Fintechs – Should Treasurers Bet on Smaller Players?
- Crafting a Compelling LinkedIn Profile
- The 12 Myths of Treasury: Debunking Misconceptions and Raising Awareness
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