They say the treasurer of hell knows the underworld better than the devil himself. Jokes aside, the truth is that treasury management comes with a heavy load of responsibility and very little glamour. It's the role responsible for ensuring the long-term financial health and sustainability of the organization - whether it’s a professional association, an association , a sports club or a foundation. But it’s also usually the person who meticulously files everyone’s invoices… assuming they were even submitted on time.
At Kuorum, we’ve spent years working closely with treasurers from all types of organizations. Here are five practical keys we've learned from the very best:
1. Combine long-term vision with close attention to detail
As in many areas, daily urgent tasks often eat up the time needed for what truly matters. Having a clear vision means understanding the context. Tools like PEST analysis, SWOT analysis, or simple benchmarking with similar organizations can be very useful for decision-making. A good treasurer doesn’t just track income and expenses—they identify patterns, detect risks, and read the numbers like a story.
You don’t need to be an economist, but you should get in the habit of asking:
- Do we have more expenses than income?
- What payments are pending?
- Are we better off than we were six months ago?
- Do we have the capacity to make the necessary strategic investments?
Control without vision is just accounting. Vision without control is a risk.
2. Use digital tools for agile and transparent financial management
Managing finances with Excel or paper is no longer efficient—or safe. There are many tools available for treasurers of associations and other entities:
- Holded: A financial management tool to reconcile income and expenses, plan cash flow, and automate reports.
- Pleo: Virtual corporate cards that allow users to digitize receipts with a simple photo.
- Kuorum: A platform that enables easy organization of in-person, virtual, or hybrid assemblies, so budget approval doesn't become a bottleneck.
- Payfit: For payroll automation.
Using the right technology improves efficiency, reduces errors and builds trust among members, auditors or stakeholders.
3. Communicate clearly and report with confidence
An essential part of the treasurer's job is to explain the accounts. And not everyone has a financial background. That's why an effective treasurer knows how to communicate clearly:
- Present comprehensible economic reports.
- Answer questions in assemblies or meetings, also via videoconference.
- Justify deviations or economic decisions with data.
It’s not just about doing the work well, it’s about making it clear to everyone else.
4. Plan ahead with a medium- and long-term focus
Good financial management is not only about controlling the present, but also anticipating the future. An efficient treasurer:
- Develop realistic budgets.
- Identify seasonal or recurring expenses.
- It foresees negative scenarios (lack of quotas, fewer subsidies, etc.).
- Propose improvements or adjustments before it is too late.
Anticipating is one way to protect the organization.
5. Act with transparency, ethics, and responsibility
The treasurer is the one who manages the money, but he/she does not own it. The trust that the organization places in this figure demands exemplary conduct:
- Ethical decisions, even if they are not always popular.
- Compliance with legal, tax and accounting obligations.
- Maximum transparency: High turnout at AGMs is a strong sign of democratic health.
An efficient treasurer inspires trust and professionalism.
