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ON DEMAND WEBINAR

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.
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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:
  • check Our late payment survey results – what Australian businesses are going through
  • check Why listing payment defaults can be beneficial to your business, particularly in 2024
  • check How to mitigate risk using default data
  • check How you can be more proactive to get paid in a timely manner, even when everyone else is getting paid late
KEY CONTRIBUTORS
Matt McFedries

Matt McFedries

Head of Product - CreditorWatch Collect, CreditorWatch

Bethany Brown

Bethany Brown

Product Sales Specialist, CreditorWatch

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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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