Safety And Security Sector: Payment Performance Nudges Upward, 70.5 to 71.3

The Comparison: 2023 vs. 2024

• 2023: 51 Safety and Security companies assessed, achieving an average payment performance score of 70.5 out of 100. This baseline reflects a generally adequate, though not outstanding, adherence to agreed payment terms.
• 2024: 47 Safety and Security firms were evaluated, resulting in a slightly improved average score of 71.3 out of 100. While fewer companies were assessed, the average payment score still managed to increase.

What This Means

The marginal increase of 0.8 points suggests a slight improvement in payment practices within the Safety and Security sector, or potentially, an improved score due to different composition of the sample. It's important to note that a smaller sample size in 2024 could amplify the impact of individual company payment behaviors on the overall average. Use the late payment calculator to figure out how to handle a late payment from a customer.

One-line summary: Payment performance in the Safety and Security sector edged up slightly from 70.5 (out of 100) in 2023 to 71.3 in 2024, based on assessments of 51 and 47 companies respectively.