Property-related Goods And Services Payment Trends: 2023 vs 2024
Property Goods & Services: Payment Scores Inch Upward - Average Gains 2.4 Points in 2024
The Comparison
- 2023: A survey of 74 companies within the property-related goods and services sector yielded an average payment score of 56.7 out of 100.
- 2024: A similar survey of 81 companies showed an average payment score of 59.1 out of 100, indicating a slight positive shift year-over-year.
What This Means
While there is a demonstrable movement towards better payment practices, the increase of 2.4 points is relatively small, suggesting gradual rather than radical improvement in the sector. This indicates many companies face ongoing challenges in areas impacting cash flow such as timely payments from clients and effective internal finance processes. Businesses struggling with late payments can use this late payment calculator to determine appropriate penalties.
Summary: Property Goods & Services showed marginal gains in average payment scores: 56.7 (2023) to 59.1 (2024).
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