In-depth conversations with treasury and finance professionals in Europe reveal that almost 75% of corporates were negatively impacted by the crisis, and more than half of corporates reviewed their business priorities for the following 6-12 months. Allowing flexibility with documentation during COVID is as important as providing financing, according to the 2020 research. Almost a third (and growing) of corporates take ESG into account in their business allocation.
MethodologyGreenwich Associates conducted 1,235 interviews with financial officers (e.g., CFOs, finance directors and group treasurers) at corporations and financial institutions with sales in excess of €500 million, including 558 with sales of at least €2 billion. An additional 1,272 interviews were conducted with corporate decision-makers for cash management, mainly treasurers. Interviews were conducted throughout Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Interviews took place from September 2020 to January of 2021. Subjects covered included bank credit capabilities, domestic and cross-border advisory capabilities and quality of institution and relationship management. Cash management capabilities were examined in separate interviews with corporate treasurers.