Safety And Security Payment Trends: 2022 vs 2023
Safety And Security Sector Payment Performance Edges Up: Average Score Rises 3.2 Points in 2023
The Comparison
- 2022: Analyzed data from 44 companies in the safety and security sector, revealing an average payment performance score of 67.3 out of 100.
- 2023: The analysis expanded to include 51 companies, with the sector’s average payment performance score reaching 70.5 out of 100.
What This Means
While the increase of 3.2 points represents a positive shift, it suggests only a marginal improvement in overall payment practices within the sector; further investigation would be required to understand whether this resulted in any practical difference for the companies, especially given that payment terms are not captured in the score. Companies struggling with late payments can estimate the potential impact using a late payment calculator to quantify losses.
Summary: In 2023, the safety and security sector saw a slight uptick, with average payment performance rising from 67.3 (out of 100) based on 44 companies in 2022 to 70.5 (out of 100) based on 51 companies.
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