Late paying customers – how are they affecting your business?

Over the holiday season, Australian businesses experience a 20% drop in revenue on average. Add to that the challenging economic conditions of 2023 and the traditional closure of many businesses during this time and you have the perfect recipe for late payments.
Late paying customers
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So how can you help ensure that your cash flow isn’t affected by late payments during the holiday period?
Watch our on demand webinar to explore:
Matt McFedries

Matt McFedries

Head of Product - CreditorWatch Collect, CreditorWatch

Bethany Brown

Bethany Brown

Product Sales Specialist, CreditorWatch

On Demand

In case you missed it, read our September 2023 Business Risk Index results.

Some key highlights related to late payments and defaults include:

  • Average value of invoices for Australian businesses has dropped 30% over the past 12 months.
  • B2B trade payment defaults continue to trend upward, with a 57% year-on-year increase. Payment defaults are a key predictor of future business failures.

With decreasing invoice amounts and slower payment times, it’s critical to have the right steps in place to maximise your cash flow and ensure your customers are paying you in full, and on time.

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