Hardware Payment Practices Show Marginal Improvement: 67.9 to 68.3 (2020-2021)

The Comparison

• 2020: A survey of 31 hardware companies revealed an average payment practices score of 67.9 out of 100.
• 2021: This increased slightly to 68.3 out of 100, based on data from 42 companies.

What This Means

The hardware sector demonstrated a negligible improvement in payment performance between 2020 and 2021, suggesting persistent challenges in streamlining financial processes and ensuring timely payments across the supply chain. While the increase of 0.4 points is positive, it is statistically insignificant, indicating that underlying issues contributing to payment delays remain largely unaddressed. Businesses struggling with delayed payments can use a late payment calculator to assess the financial impact and consider strategies for improvement.

One-line summary: Payment practices in hardware improved marginally, moving from an average score of 67.9 (31 companies) in 2020 to 68.3 (42 companies) in 2021.