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.
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.
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.