AI and automation are already reshaping how tax and treasury teams operate. These technologies promise greater efficiency, improved accuracy, and reduced risk. Yet while the ambition is clear, success hinges on how well people and processes are aligned to support it.

At Eton Bridge Partners, we regularly engage with CFOs and senior finance leaders to understand how these shifts are playing out in practice, and what we’re hearing is consistent. The ambition to adopt AI and automation is strong, but success depends on people, processes, and leadership alignment just as much as on technology itself.

In this article, Lorna Blair, Partner specialising in Tax & Treasury at Eton Bridge Partners, shares her insights from recent conversations with CFOs and tax and treasury leaders, reflecting on what she is hearing on the ground; what’s working, what’s holding organisations back, and where the opportunities lie for forward-thinking finance teams.

The gap between ambition and readiness

Most tax and treasury leaders we speak to are clear on the direction of travel. AI, automation, and data-driven insights are high on the strategic agenda, yet many also describe their functions as still “behind the curve”. Many are highlighting familiar barriers such as underinvestment in systems, competing priorities, and limited bandwidth to focus on longer-term improvements, whilst poor-quality data remains the single biggest blocker.

One CFO shared that their team is “drowning in operational detail” with little space to look ahead, describing AI as “an untrained puppy”: full of potential, but not yet ready to be trusted on its own. It’s a sentiment echoed across multiple industries. Technology needs to be fed and shaped by clean, structured data and embedded in well-governed processes to deliver real value.

James Kelly, Co-Founder of Your Treasury, offered a pragmatic view on current capabilities: “The straight answer is a lot is already possible with AI in Treasury. We’ve worked on projects including automation of KYC responses using AI, and full end-to-end cash management – from import, reconciliation and tagging, to variance analysis and deal recommendations, all the way to exporting proposed deals to a dealing platform. The Treasury team still executes, but all the prep is done.”

Yet despite this potential, James highlights a significant disparity in adoption: “Most companies are barely using AI within Treasury. In the UK, perhaps only 20% of the FTSE are using it to even 50% of its potential. American firms, and those with strong tech or media backgrounds, tend to be further ahead.”

The reality is that many finance teams are still investing significant effort just to maintain business-as-usual, making it difficult to carve out the time, investment, or headspace required for transformational change.

Britt Jensen, Principal Director, Head of UK & Europe, Citi Client Advisory Group noted, “Expectations of shareholders are constantly increasing and the cost of not focusing on your capital is rising. Risk mitigation and liquidity is crucial to all corporates, whether large or small. Larger, more mature organisations where transformation activities take longer have to move earlier.” This underscores the urgency for even well-established businesses to act decisively.

Turning intent into action

Despite the challenges, progress is happening. We’ve seen tax teams introducing practical automation tools to ease specific pressure points, ranging from AI-driven document drafting to bots that scan ledgers for payroll anomalies.

“We have around 40 projects on the go for 2025 and plenty more already planned” shared Dominic Mathon, Head of Tax & Treasury at RELX. “My personal tip is not to look for the one all-singing, all-dancing technology solution to all your problems, but instead start to experiment and iterate at a smaller scale, and keep evolving and improving all the time.” He added: “Many of our tech initiatives are modest and iterative, but together they make a big difference. From a self-service tool that speeds up withholding tax certificates to using extractive AI for PSA-related ledger searches or automating state tax audits – it all adds up.”

The most successful efforts often start small. Leaders are experimenting with low-risk projects to build internal capability, learn fast, and create a foundation for broader transformation. There’s growing recognition that evolution, not revolution, is the path forward.

Where leaders can define a clear use case and demonstrate a direct link to commercial outcomes, they are more likely to get traction internally and build momentum externally. But the starting point varies widely. Some functions are still trying to identify their first step, while others are scaling proven successes.

Building the business case for change

A common assumption from boards and senior executives is that automation leads to immediate headcount reductions and cost savings. But leaders close to delivery paint a more nuanced picture.

Louisa Gonzalez, Head of Tax for Johnson Mathey explained: “In practice, most estimate it takes three to five years to see meaningful ROI. The upfront investment in systems, data hygiene, and internal capability is significant, particularly in environments shaped by macroeconomic volatility, evolving regulatory demands, including Pillar 2, tariffs, and e-invoicing, and increasing audit scrutiny. These external pressures heighten the urgency for resilient infrastructure, but also raise the bar for effective change.”

As a result, finance leaders are starting to reframe their business cases, linking transformation not just to efficiency, but to strategic value: better capital access, improved compliance, and more robust decision-making under uncertainty. In this context, automation becomes a way to strengthen the organisation’s financial backbone, not just streamline the surface.

The human factor in tech transformation

What’s increasingly clear is that transformation isn’t just a technical journey, it’s a human one. Recent conversations have identified several internal barriers to progress, including limited capacity, uncertainty around AI use cases, and difficulty demonstrating value to leadership. Many feel caught between meeting day-to-day demands and the pressure to innovate – with insufficient time, tools, or investment to do either effectively.

Among the teams making meaningful progress, however, one factor consistently stands out: having dedicated roles focused on automation, data, and process improvement. These internal champions often come from within the function – people with a deep understanding of the work, trusted to drive its evolution from the inside.

“Culture matters just as much as capability. In high-performing teams, automation isn’t seen as a threat, but as an opportunity to focus on more meaningful, developmental work,” shared Katherine Emmens, Head of Treasury for loveholidays. That mindset is especially important for attracting and retaining early career talent. Graduates are already using AI in their daily lives and they expect to see it in the workplace too. Leaders who ignore this risk falling behind – not just in delivery, but in recruitment and retention.

“There’s still hesitation because teams worry their staff aren’t tech-savvy enough,” James Kelly, Co-Founder of Your Treasury shared. “But Excel is complex too – and people have mastered that. Treasury teams are perfectly capable of adapting; it’s often just a confidence and control issue.”

But the most successful teams aren’t just those with digital skills. They’re led by people who model curiosity themselves. There seems to be a visible shift that happens when senior leaders show openness to experimenting with new tools.

This willingness to embrace change at all levels ultimately becomes the catalyst that turns transformation from a daunting challenge into a shared opportunity for growth and innovation.

Redefining the value of tax and treasury

Too often, tax and treasury are still regarded as cost centres – essential to the business but primarily defined by compliance and reporting. Several leaders have expressed frustration that critical activities, such as tax filing or cash flow forecasting, continue to be labelled as “admin” by the wider organisation.

There was strong agreement this perception needs to change. Tax and treasury should be recognised as strategic enablers – functions that protect the organisation’s licence to operate, safeguard working capital, and manage both reputational and regulatory risk. This contribution warrants a seat at the decision-making table, along with the tools and investment needed to deliver at that level.

Earning this position means continuing to demonstrate impact in commercial terms – shifting the conversation from processes and platforms to business performance, resilience, and long-term value.

Next steps for finance leaders

There is a strong consensus that AI and automation will reshape tax and treasury, but not through hype or sweeping transformation. Progress will come through smart, incremental steps grounded in strong data, supported by leadership, and shaped by a culture that sees change as an opportunity, not a threat.

Katherine Beard, EMEA Head of Tax at CNH Industrial, reflected on the importance of clear, consistent communication during change: “Whether it’s building buy-in across the team or securing investment from the CFO, clarity is critical.”

For CFOs, the opportunity is to engage more closely with tax and treasury leaders, supporting credible, commercially grounded cases for change. For function leaders, the challenge is to keep momentum going. Focus on what’s achievable now, build on it, and show how each step contributes to longer-term value.

“Treasury teams are small – which actually makes them perfect testbeds for AI adoption,” James Kelly explained. “Upskilling a tight-knit group has huge payoff. Fears of organisations replacing them with new AI talent are misplaced – there simply aren’t enough AI-native treasury experts, so your experienced people are your best asset.”

If you’re navigating change in your tax or treasury function, or looking to build the leadership required to deliver transformation, we’d be delighted to support you. Please get in touch with Lorna to discuss further.