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   Late invoices prevents job creation

Reseach Finds Late Payment is Costing Jobs Across Europe

May 30 2015


New research published by Intrum Justitia shows that a third of european companies say that collecting payment from customers more quickly would enable them to hire more staff. 60% of businesses think that holding back payments is part of a deliberate strategy by customers.

Nearly 9,000 companies in 29 countries were asked the question "Would you hire more if you got invoices paid faster?", 32% answered "Yes"

When asked about the causes of their late payments, 70% of respondents thought it was because their customer was in financial difficutly, but 60% felt that late payment was a deliberate strategy by their customers.

 

Causes of Overdue Payments

  Cause of Late Payment Percentage of Firms
1 Debtor in Financial Difficulty 70%
2 Intentional Late Payment 60%
3 Administrative Inefficiency at Customer 44%
4 Disputes Regarding Goods or Services 18%

 

Samantha White, CEO of My Credit Controllers said: "If your business is struggling with late payments from customers, you could consider using an outsourced credit control service to improve your cash flow?"


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