IT Sector Payment Performance Remains Virtually Flat: 2024 Scores Dip Marginally to 70.2/100

The Comparison

Here's a snapshot of payment performance in the Information Technology sector:

• 2023: Sample size of 59 companies averaged a payment score of 70.3 out of 100.
• 2024: A slightly larger sample of 62 companies saw the average score decline by a negligible 0.1 points, settling at 70.2 out of 100.

What This Means

The near-identical average payment scores between 2023 and 2024 suggest a high degree of stability in payment practices within the IT industry, where late payments remain an ongoing problem, as indicated by the score. This minimal change indicates the sector maintains established payment timelines, potentially masking underlying fluctuations within individual businesses. To assess the potential impact of late payments, IT businesses can use a late payment calculator.

Overall, IT sector payment scores barely shifted from 70.3/100 in 2023 to 70.2/100 in 2024.