How to succeed as a new CFO in a pre-treasury company

In a fast-growing company without a dedicated treasury team, the CFO plays a critical role in managing cash, risk, and financial strategy. Without a structured treasury function, cash flow oversight, funding decisions, and risk mitigation often fall squarely on the CFO’s shoulders.  

Here’s how CFOs in pre-treasury companies can set their businesses up for long-term financial success.  

1. Prioritize cash flow visibility  

Liquidity management is the foundation of any financial strategy. Without real-time insight into cash positions, CFOs risk unexpected shortfalls, inefficient capital allocation, and missed growth opportunities.  

Key strategies to enhance cash visibility:  

• Consolidate bank data in a single dashboard to track cash across multiple accounts. Use automation to aggregate cash balances across multiple banks.
• Implement cash forecasting to anticipate upcoming funding needs and prevent liquidity gaps.  
• Standardize payment cycles to smooth out cash fluctuations and avoid surprises.  

Investing in automation can reduce manual errors and improve real-time cash insights, ensuring more informed decision-making.  

2. Build strong banking relationships  

Without a treasury team, CFOs must take the lead in securing favorable banking arrangements. This includes negotiating terms for credit facilities, optimizing payment structures, and ensuring access to funding as the company scales.  

Best practices:

• Diversify banking partners to mitigate risk and improve financial flexibility.  
• Negotiate credit lines proactively to ensure liquidity before urgent needs arise.  
• Streamline bank connectivity** with APIs or treasury solutions to improve efficiency.  

3. Automate key treasury functions early  

A pre-treasury company should start laying the groundwork for treasury automation before financial operations become too complex. Automating key processes—such as cash reconciliation, payments, and reporting—saves time and reduces risk.  

Quick wins for automation:  

• Forecasting & scenario planning – use AI-driven insights to predict cash trends.  
• Automated reporting – generate real-time insights without manual data entry.  

Automation allows lean teams to handle treasury functions without hiring additional personnel.  

4. Manage risk proactively  

Even in a pre-treasury company, financial risk management cannot be overlooked. CFOs must monitor foreign exchange (FX) exposure, interest rate fluctuations, and counterparty risks.  

Steps to mitigate financial risk:  

• Implement basic hedging strategies to manage FX and interest rate volatility.  
• Establish clear investment policies to ensure surplus cash is deployed effectively.  
• Monitor economic indicators that could impact financing costs and liquidity needs.  

5. Collaborate across departments  

A CFO in a pre-treasury environment must align closely with operations, and procurement to ensure cohesive financial management. Treasury responsibilities often overlap with other finance functions, making cross-team collaboration essential.  

Ways to enhance collaboration:  

• Work with accounts payable & receivable to optimize working capital.  
• Coordinate with sales & operations to align cash flow with revenue cycles.
• Communicate with leadership to integrate treasury strategy into overall business goals.  

Succeeding as a CFO in a pre-treasury company requires a blend of strategic foresight, hands-on financial management, and proactive risk mitigation. By focusing on cash flow visibility, banking relationships, automation, and risk management, CFOs can create a strong financial foundation before formal treasury operations are established.  

Want to learn more about how Panax supports pre-treasury teams to automate their cash management? Get in contact today