Payment performance improves, says Experian
Experian's new monthly new late payment index reveals a month-to-month improvement in payment performance
August saw the biggest month-to-month improvement in the time it takes companies in the UK to settle bills since December 2007, according to Experian.
The company’s new monthly late payment index showed that the average number of days businesses took to settle bills beyond agreed payment terms fell from 24.19 days in July to 23.40 days in August.
Research shows it was not until March this year that payment performance began to show tentative signs of stabilising, before seeing the biggest month
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