Payment uncertainties are cited as the major obstacles in international trade and are one of the principal reasons for business insolvencies – irrespective of whether a company is locally, nationally or internationally active. Based on this it could be assumed that Credit Management – i.e. the transformation process of turnover to actual cash inflow – is one of the most developed core processes in all companies. The reality however shows another picture: in far too many companies the reminder process shows an important need for improvement.
Fig. 1: Average payment delay (days) in each country (B2B)
In Finland in more than three quarters of all cases suppliers remind within 2 weeks after due date, whilst in Italy suppliers only read more
Fig. 1: Average payment delay (days) in each country (B2B)
In Finland in more than three quarters of all cases suppliers remind within 2 weeks after due date, whilst in Italy suppliers only read more
