Surveying the Impact of COVID-19 on Treasury and Finance - Week 6 Insights
Treasury And Cash Management
The results from the 6th consecutive week of the Global Crisis Monitor survey are in. Questions about the return to financial normalcy and the abatement of health concerns continued to track changing perceptions in those areas. New questions added this week sought to gain insight into the impact of COVID-19 on projects – how much of a disruption the pandemic having on core business initiatives.
The survey, sponsored by Strategic Treasurer and a coalition of finance and financial technology providers, seeks to gauge the effect the crisis is having on treasury and financial organizations as it occurs, rather than in hindsight. This week’s survey participants include treasury and finance professionals from around the globe, providing a 360° view of worldwide results.
That increase, although less significant, was also felt in the estimated length of time to return to financial normalcy, which saw a smaller increase from 9 months last week to between 10 and 12.
In an effort to gauge the effect COVID-19 is having on project work, this week the survey included questions to find the levels to which organizations are maintaining business as usual. The question asked participants to categorize their project response in light of shifting priorities and we found that nearly 56% of organizations had either paused or altered the scope and/or pace of a fintech-related project – a large percentage to be sure -- but on a positive note, less than 4% actually canceled an existing project. Another bit of light is that 9% of respondents started a new project since the outbreak.
Each week, 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.
View the full results from the 6th week, including responses on the state of debt and liquidity here:
- April 22-28: survey highlights infographic
- April 22-28: 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.
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 previous results articles 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.