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.
In the areas measured week to week, the most significant change is to the length of time respondents believe it will take before the virus is no longer seen as a significant health issue. Over the past 5 weeks, that estimate hovered between the 4-6 month timeframe, with last week’s results actually dropping to the shortest timeframe of 4 months. That decrease proved to an anomaly however, as the week 6 results show an alarming jump to between 9-10 months before respondents perceive the health threat to be diminished – more than double the previous week.
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:
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 previous results articles here:
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