The Treasurer for Companies Without a Treasurer
Treasury often gets linked with large companies and big teams. However, many growing businesses work very differently. Startups and scale-ups still need to manage cash, banking, risk, and payments, but they usually have fewer people and less time.
As a result, finance teams often handle treasury work alongside other responsibilities. The challenge isn’t whether treasury matters. It’s how to do it well without building a large treasury department.
That’s where Jennifer Pearson comes in. As the founder & Treasury Consultant of TreasuryEdge, she helps startups and scale-ups build practical treasury processes. Her career began at Procter & Gamble and later included roles across major organisations, professional services firms, and Freetrade.
At Freetrade, she built the treasury function in the company’s early days, before she launched TreasuryEdge.
Here’s what makes her unusual. Most treasury consultants work with companies that already have a treasurer, on one-off jobs like a refinancing or a new system. Jennifer does the opposite.
She works with the ones that have the risk but no treasurer at all: an e-commerce brand bleeding money on currency swings, say, or a freshly funded scale-up sitting on cash it doesn’t know what to do with.
She builds the function from scratch, then hands the finance team a playbook they can run themselves.
In this article, we’ll explore what lean finance teams can learn from both startups and corporates. We’ll cover ownership, curiosity, and cash forecasting.
We’ll also explore foreign exchange risk, banking relationships, and treasury policies. Finally, we’ll look at practical steps that strengthen treasury processes.
What Startups and Corporates Can Teach Each Other About Treasury
Many people don’t plan a career in treasury. They simply find it and end up loving it. That’s because the treasury covers many areas and keeps things interesting.
What Startups Do Differently
Startups push people to take ownership. Nobody waits around for instructions because there often aren’t any. People need to solve problems, share ideas, and help wherever needed. Moreover, they often work beyond their job title.
Key startup traits include:
- Strong ownership
- Quick action
- Broad responsibility
- Problem-solving mindset
- Focus on getting things done
In many startups, you build processes from scratch. That can feel daunting at first, but it’s also exciting.
What Corporates Still Do Well
Large companies offer structure, experience, and proven ways of working. They bring together skilled people and clear processes. However, fresh thinking still matters.
Every person brings different skills and experiences. So don’t assume every process is perfect. Ask questions and suggest better ways when needed.
The Value of Curiosity and Honesty
One simple habit stands out. Don’t be afraid to say, ‘I don’t know’. People respect honesty. They also respect those who ask good questions. Whether you work in a startup or a large company, ownership, curiosity, and initiative help you grow and make a real difference.
Image Credits: Photo by Yan Krukau on Pexels
Why Growing Companies Need Their Own Treasury Playbook
Many treasury practices come from large corporations. However, startups and scale-ups face different challenges every day.
Big companies usually have treasury teams, strong bank contacts, and plenty of support. Smaller businesses often don’t. Yet they still need to manage cash, risk, and banking operations.
The Main Challenge for Growing Companies
Growing businesses still need to manage:
- Foreign exchange risk
- Cash investments
- Banking relationships
- Payment processes
- Treasury controls
However, these tasks often fall to the CFO or finance team. They already have enough on their plates, so treasury can’t become a full-time job.
Why Automation Matters More
Time is limited in a growing business. That’s why simple tools matter so much. Modern treasury platforms help automate foreign exchange, investments, and other routine tasks.
As a result, finance teams spend less time chasing banks and more time focusing on growth. Moreover, many of these tools offer simple pricing, quick setup, and easy day-to-day use.
And these tools are easy to find now. For currency, platforms like Bound and HedgeFlows automate the hedging at tight spreads, so nobody has to take those endless calls from FX brokers.
For cash, the likes of TreasurySpring and Flagstone open up money market funds and spread deposits across banks. That sort of access used to be a big-company luxury. Now anyone can have it.
Treasury Is About More Than Returns
The highest return isn’t always the best choice.
Treasury teams also consider:
- Banking relationships
- Access to future funding
- Counterparty risk
- Operational resilience
Moreover, keeping all cash with one provider creates risk. A system outage or cyber issue could stop access to funds. That’s why spreading cash across different providers remains a smart and practical treasury habit.
Treasurers call part of this “wallet share.” Instead of chasing the single best rate, you spread the business across two or three banks so each one gets a fair slice. In return, they tend to give you better pricing, more flexibility, and a friendlier ear when you need something.
The First 100 Days of a New Treasury Function
The first 100 days should focus on the things that can save or make money quickly. There’s no point building complex processes if the biggest risks still sit untouched.
Start With Cash and FX Risk
For many growing companies, the first step is simple. Make sure spare cash earns interest.
Money sitting in the wrong account costs the business every day. That’s why cash management often delivers quick results.
Next comes foreign exchange risk. For companies that trade across borders, currency swings can hurt profits. A clear hedging plan reduces surprises and gives finance teams more control.
Put Clear Rules in Place
Once the main risks are understood, it’s time to create a treasury policy.
A good policy covers:
- Liquidity risk
- Foreign exchange risk
- Credit risk
- Market risk
More importantly, it gives the finance team confidence. They know what to do when markets move or conditions change.
Strengthen Banking and Forecasting
A good treasury also starts with good banking relationships. Relying on one bank creates unnecessary risk, so having at least two banking partners is a smart move.
In practice, that often means pairing a traditional high-street bank with an easy-to-use account from a newer provider. The finance team can then add users, make payments and keep the business running even when one person is on holiday and the bank’s security tokens are locked in a drawer.
At the same time, cash forecasting shouldn’t become an afterthought. It doesn’t need to be perfect. However, it should help teams make better decisions and stay one step ahead.
Image Credits: Photo by Vlada Karpovich on Pexels
How Lean Finance Teams Forecast Early and Grow Treasury Careers
Good treasury planning starts before a payment is due. Many companies know a large payment is coming, yet they wait too long to arrange funding. Then teams rush to move cash, buy currency, and meet deadlines.
A good forecast helps teams prepare early, manage risk, and avoid surprises. It also gives leaders confidence about what comes next.
Create Clear Rules, Not Assumptions
Many businesses rely on trust and experience. However, treasury works better when everyone follows the same plan. A clear treasury policy sets expectations and removes guesswork.
Jennifer puts it bluntly. A founder who tells the finance team “I trust you, just handle it” is, she says, like handing someone your credit card: “I’ve got two kids and a mortgage, so please pay for everything.
I trust you.” Lovely. But trust was never the problem. The missing instructions are, and that’s exactly what a treasury policy gives you.
It helps teams manage cash, foreign exchange risk, and liquidity in a consistent way. When people track results and review them regularly, treasury becomes calmer and more predictable.
Why Treasury Appeals to Many Professionals
Treasury focuses on today’s decisions, not yesterday’s results. It connects finance to markets, interest rates, currencies, and business strategy. That’s what makes it interesting. Every day brings new information and new decisions.
Build Your Network Early
Treasury is a small profession, so relationships matter.
- Stay active on LinkedIn
- Attend industry events
- Join treasury groups
- Speak to new people
Most importantly, treat your role like it’s your own business. Take ownership, share ideas, and make the role your own.
Conclusion
Growing companies don’t need large budgets or big treasury departments to succeed. Instead, they need clear priorities, good habits, and the confidence to act early.
Moreover, strong forecasting, smart tools, and solid banking relationships help teams stay in control as the business grows. That said, people who stay curious, take ownership, and keep learning will always stand out in treasury.