Hardware Payment Practices Show Slight Improvement: 2024 Sees 1.6-Point Gain

The Comparison

A recent analysis of payment practices within the hardware sector reveals a modest, but demonstrable, improvement from 2023 to 2024:

• 2023: The study encompassed 38 hardware companies, yielding an average payment score of 70.5 out of 100.
• 2024: The sample size increased to 44 companies, resulting in an improved average payment score of 72.1 out of 100.
• Use this late payment calculator to determine potential interest owed on delayed invoices.

What This Means

While the increase from 70.5 to 72.1 indicates a positive shift, the 1.6-point gain represents only a marginal improvement in payment performance across the hardware industry; it doesn't signal a fundamental restructuring of payment cultures or practices. The increase in sample size suggests greater data availability, although the magnitude of improvement is limited.

One-line summary: Hardware payment practices saw a slight increase from an average score of 70.5 across 38 companies in 2023 to 72.1 across 44 companies in 2024.