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Professional Services Payment Practices Report 2024

•By PaymentCheck•Reports

UK Professional Services Payments: Big Divide Despite Overall Strong Score

The Numbers

  • Companies analysed: 163
  • Average PaymentCheck Score: 74.9/100
  • UK average: 50.0/100
  • Professional Services advantage over UK average: 24.9 points
  • Top PaymentCheck Score: 100/100 (shared by 2 companies)
  • Bottom PaymentCheck Score: 11.6/100
  • Regional high (South West): 88.4 avg (6 companies)
  • Regional low (Scotland): 74.2 avg (2 companies)

What Stands Out

While the professional services sector, on average, significantly outperforms the UK average in payment practices, the massive range between the top and bottom performers reveals a stark disparity. That a firm can score 100/100 while another scores just 11.6/100 suggests a fundamental difference in priorities and processes within the sector.

Best Payers

  1. SLAUGHTER AND MAY SERVICES COMPANY - 100/100
  2. GRANT THORNTON AGILE TALENT SOLUTIONS LIMITED - 100/100
  3. R&C PMK LIMITED - 99.8/100
  4. FBC (FUTUREBRAND) LIMITED - 99.8/100
  5. MODIS EUROPE LIMITED - 99.4/100

Worst Payers

  1. APLEONA UK LIMITED - 11.6/100
  2. KENNEDYS LAW LLP - 20.47/100
  3. ADMIRAL LAW LIMITED - 21.3/100
  4. ALTRAD BABCOCK LIMITED - 23.3/100
  5. DENTONS EUROPE LLP - 29.7/100

Regional Patterns

The South West, with a relatively small sample size of six companies, boasts the highest average PaymentCheck score at 88.4. London, while home to the bulk of the companies analysed (100), settles for a more modest average of 77.1, hinting that greater sample size might drag down the average, and bigger markets do not guarantee quicker payments. The East Midlands closely follows the South West at 84.4, based on a sample of six companies. Scotland had the lowest at 74.2, but only includes two companies.

Struggling with late payments? Use this late payment calculator to see how much they're costing you.

Despite a generally positive sector average, the gulf between the best and worst payers – a difference of 88.4 points between APLEONA UK LIMITED and SLAUGHTER AND MAY SERVICES COMPANY – shows there's still a long way to go before prompt payment is standard across the professional services sector.