Hardware Sector Payment Practices Decline Slightly: 2023 Average Falls to 70.5/100

The Comparison

Here's a side-by-side look at payment performance in the hardware sector:

• 2022: 38 companies assessed achieved an average payment practices score of 71.3 out of 100.
• 2023: The same number of hardware companies (38) saw their average score dip to 70.5 out of 100.

What This Means

The overall shift in average payment performance is marginal, reflecting a minor weakening in payment practices. While a decline of 0.8 points might appear insignificant, it suggests a potential softening in financial discipline across the hardware industry in 2023 compared to 2022. Businesses struggling with late payments can use this late payment calculator to understand the impact on their finances.

In 2023, payment practices within the hardware sector registered a slight downturn, decreasing from an average score of 71.3/100 to 70.5/100.