In this series, SmartPayments reports on the results from the Global Recovery Monitor, a monthly recurring survey of industry professionals on the economic impact of COVID-19 and outlook for recovery.
The Global Recovery Monitor is the latest iteration of a survey sponsored by the Treasury Coalition, a group of treasury organizations from around the world, brought together by Strategic Treasurer when the COVID-19 pandemic emerged. Craig Jeffery, managing partner of Strategic Treasurer, recognized this event would have a significant impact on businesses, and the economy, worldwide.
The Global Recovery Monitor, originally named the Global Crisis Monitor, was launched as a way to capture the effects in real time as opposed to in hindsight – arming industry professionals with knowledge to help them weather the crisis. The survey touches on a range of topics intended to measure treasury vital signs, provide real-time insights into how daily business is being impacted, and help organizations benefit from shared experiences.
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Global Recovery Monitor Result Highlights – Period 13:
- Tie for top business concern: as we enter the 5th month of the survey, the top 2 business concerns shift to staff safety protocols as more employers contemplate a return to offices and also the continued direct impact to the business. Access to adequate liquidity moved into 3rd place – with AR concerns seeming to be the underlying factor.
- Top 3 challenges facing employees working from home (WFH):
- Never-ending work mindset continues to top the list of WFH challenges
- Followed by reduced team organization and communication, which moved up from last period results
- Technology issues, which seem to have lessened as time goes on
- Reason for optimism: when asked to identify encouraging signposts in the midst of the COVID-19 pandemic, 74% of respondents noted the increase in businesses that are reopening, with 58% citing the improving jobless numbers.
Access the full Period 13 results report here.
Each month, the Treasury Coalition will continue to offer insight into what’s top-of-mind in the treasury and financial industries during the pandemic, and how practitioners are viewing the recovery timeline.
How You Can Help
To be a meaningful resource, the Global Recovery Monitor needs consistent participation from those in the treasury and finance trenches. To add your voice to the results, take the survey here.
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Read the first article in this series, featuring an interview with Craig Jeffery, Executive Director, Strategic Treasurer. Check out previous results articles here:
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