Travel And Transportation Payment Trends: 2021 vs 2022
Travel and Transportation Payment Practices Improve, But Only Slightly: 2021 vs 2022
The Comparison
- 2021: A study of 93 companies in the travel and transportation sector revealed an average payment score of 67.8 out of 100.
- 2022: The same 93 companies improved their average payment score to 71.9 out of 100.
What This Means
While there's a measurable improvement, the increase of 4.1 points suggests only a modest shift in payment behaviors within the sector. A deeper dive into the data is needed to identify which aspects of payment practices – such as payment speed or transparency – drove this incremental progress. Companies struggling with late payments can use tools like this late payment calculator to determine the financial impact.
Travel and Transportation: 2021 scored 67.8/100; 2022 scored 71.9/100.
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