Surveying the Impact of COVID-19 on Treasury and Finance - Week 4 Insights
Treasury And Cash Management
The results from the latest Global Crisis Monitor survey are compiled and it’s clear that the impact of COVID-19 continues to reverberate around the globe. The survey, sponsored by Strategic Treasurer and a coalition of finance and financial technology providers, seeks to gauge the pandemic’s impact on treasury and financial organizations in real-time. This week, survey participation grew to include 500 different companies from 6 continents – demonstrating the widespread affect COVID-19 is having.
“I’ve seen the financial industry experience many significant events that require organizations to adapt to significant changes in a short amount of time,” said Craig Jeffery, Executive Director of Strategic Treasurer. “These events were always followed by a postmortem after the crisis and we often find ourselves wishing we could do more analysis and measurement during the event. When COVID-19 hit, we wanted to do something different and find a way to capture the impact in real-time to help practitioners navigate through the crisis today.”
The Global Crisis Monitor 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.
Week 4 Results
- Accounts Payable status: of those surveyed, over 42% of firms reported extending delayed processing time, up 10% from last week.
- Timeline to financial normalcy – since last week’s survey, the expected date when the return to a pre-COVID-19 financial state moved out to 9 months, a gain of an additional month from the previous week. This marks the fourth increase in as many surveys.
- Health and economic recovery – there is some good news this week, as viewpoints on both the point when the effects of the virus on the economy and health will begin to diminish turned positive for the first time.
View the full results from the 4th week, including responses on the state of debt and liquidity here:
- April 8-15 survey highlights infographic
- April 8-15 full survey report
How You Can Help
To be a meaningful resource, the Treasury Coalition needs consistent participation week-to-week from those in the treasury and finance trenches. To add your voice to the results, take the survey here.
Bookmark the link and visit every Thursday for a new question set. Check back here weekly, as SmartPayments.com continues this series and provides real-time results of the Global Crisis Monitory survey and the impact COVID-19 is having on the industry.
Read the first article in this series, featuring an interview with Craig Jeffery, Executive Director, Strategic Treasurer.
Check out results from week 3 here.
For further insights into the payments industry and beyond, subscribe now to SmartPayments.com and stay up-to-date on the latest trends and topics. You can also check out The Payments Podcast, where experts weigh-in on real-time factors impacting the payments industry.