CHERRY HILL, N.J., Jan. 26, 2022 /PRNewswire/ -- After two
years of dampened outlook and growth, more companies are optimistic
about the future, according to the Treasury Perspectives Survey
sponsored by Strategic Treasurer and TD Bank.
The study probed both banks and corporate treasury and finance
departments about their practices, expectations, outlooks, and
perspectives across multiple dimensions of business and technology.
The new results show returns to mostly pre-pandemic outlooks.
"The year-over-year data shows that there was quite a descent
into the trough the past two years, but we seem to be coming out of
it strong now," according to Tom
Gregory, Head of Treasury Management Sales, TD Bank. "Some
of the growth metrics are showing even more positivity than before
the pandemic. The recovery does not appear to be rapid, but it does
appear to be significant."
Organizational outlook over the past 12 months shows net
positive movement. The percentage of companies with a more or
significantly more negative outlook has almost reached
pre-pandemic lows, and those with a more or significantly more
positive outlook exceed
pre-pandemic numbers.
When asked about sales and revenue projections, respondents were
highly positive, with greater growth and less downsizing compared
to 2020. A total 76% of companies expect their sales/revenue to
increase or significantly increase in 2022, with only 3% expecting
a decrease or significant decrease.
COVID's effects appear to be settling into some level of
permanence including policies that govern remote work, security,
forecasting, electronic adoption, etc. Fifty-six percent have seen
enduring changes to work from home policies in their treasury
operations attributable to the pandemic. Treasury teams ranked
"security & control procedures" and "cash flow forecasting" in
a tie for second on this list of recognized changes, each with 38%.
Additionally, AR and AP groups noted ongoing willingness to accept
more payment types (31% of respondents for AR) and increased
adoption of EFT coupled with reduced use of checks (48% of
respondents for AP).
The Treasury Perspectives Survey ran September through November
of 2021, with participation from 250+ respondents. More extensive
results from the survey are available via a downloadable report, an
infographic and a webinar. The webinar features Craig Jeffery of Strategic Treasurer and
Tom Gregory and Adrienne Terpak of TD Bank. Video replay and a
copy of the presentation deck are also available.
About Strategic Treasurer
Strategic Treasurer provides consulting services for treasury
management, security, technology and compliance. Corporate clients,
banks and fintech providers throughout the world rely on their
advisory services and industry-leading research. Strategic
Treasurer is headquartered in Atlanta, with consultants based out of
Atlanta, Cleveland, and Detroit. To learn more, visit
strategictreasurer.com.
About TD Bank, America's Most Convenient
Bank®
TD Bank, America's Most Convenient Bank, is one of the 10
largest banks in the U.S., providing more than 9.7 million
customers with a full range of retail, small business and
commercial banking products and services at more than 1,100
convenient locations throughout the Northeast, Mid-Atlantic, Metro
D.C., the Carolinas and Florida.
In addition, TD Bank and its subsidiaries offer customized private
banking and wealth management services through TD
Wealth®, and vehicle financing and dealer commercial
services through TD Auto Finance. TD Bank is headquartered in
Cherry Hill, N.J. To learn more,
visit www.td.com/us. Find TD Bank on Facebook
at www.facebook.com/TDBank and on Twitter
at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank
Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services
company in North America. The
Toronto-Dominion Bank trades on the New
York and Toronto stock
exchanges under the ticker symbol "TD". To learn more,
visit www.td.com/us.
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SOURCE TD Bank; Strategic Treasurer