In response to COVID-19, treasurers have an increased emphasis on cash forecasting and expanded time horizon.
Implemented
Planning
Not considered/N.A.
Concerned with greater occurrences of fraud attempts, treasurers are adopting strict compliance with procedural controls and verification.
Delayed Planned Capital Expenditure
To increase efficiencies in payment processes, treasurers are moving paper payments to electronic formats.
Organizations are planning for a severe impact on their revenue, so a majority have instituted hiring freezes.
Organizations had a documented plan in place prior to pandemic
62%
Business Continuity Planning (BCP)
BCP was effective
95%
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17%
71%
Implemented
Planning
Not considered/N.A.
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58%
16%
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41%
29%
Implemented
Planning
Not considered/N.A.
Implemented
Planning
Not considered/N.A.
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39%
26%
Implemented
Planning
Not considered/N.A.
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48%
13%
Working Capital
Payments
Capital Expenditure
Payments
Hiring and Capital Expenditures
A sound BCP can help alleviate the struggle of organizations during a crisis like this.
AFP COVID Resource Center
Click on the "+" to see the responses from treasury departments in the U.S. and around the world.
In early April 2020, AFP conducted the Impact of the COVID-19 Pandemic Survey to examine the actions being taken by treasury.
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AFP Survey: Impact of the COVID-19 Pandemic
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78%
Involvement of treasury
Organizations with no plan in place prior to pandemic
38%
The C-suite realizes they need to involve treasury in internal meetings regarding COVID-19
Treasury teams included in meetings/taskforce