Although payment behaviour is still classified as ‘moderate’ or ‘poor’ by nearly one third (33%) of the credit managers interviewed, there is no further worsening with respect to previous surveys. On the contrary, outstanding invoices are being left unpaid for slightly less time compared to six months ago. At that time, customers were paying after an average of 60 days; now the average is 58 days. The proportion of customers who pay within the stipulated payment period has also improved slightly (from 64% to 68%).
39% of respondents expect payment behaviour to remain unchanged over the coming year; one in ten (10%) even expects to see an improvement. In May of this year more than seven out of ten respondents (72%) thought that payment behaviour would worsen over the coming year. That percentage has now shrunk considerably to 47%. The prospects have therefore become more positive. Yet we must all be wary of too much optimism. As soon as sales improve again, there is a greater risk of less attention being paid to payment behaviour. This whilst the costs incurred increase.
About the OnGuard Credit Management Trendmeter
The Credit Management Trendmeter is a survey which examines the trends and developments in the area of credit management twice a year. The Credit Management Trendmeter is carried out by independent research agency Blauw Research on behalf of OnGuard. 123 Dutch credit managers took part in this survey.
