IT sector payment times improving


IT sector payment times improving

Simon Quicke
As the recovery starts to kick-in the amount of time it takes companies to pay invoices has continued to improve.

According to the latest figures from Experian the IT sector is taking just shy of 15 days longer than terms to cough up payment but that is a vast improvement from February last year.

The national average across all sectors was higher at 20.75 says above terms dragged upwards by bad performances in the property and postal sectors and the slowest payers remained firms with 500 plus employees

In terms of regionally the South East had the biggest improvement year-on-year improving the speed with which bills are settled.

Joe Myers, head of commercial credit at Experian, said that companies understood that payment times did impact credit ratings.

"For smaller businesses it has far greater significance and this is reflected in their payment performance. The continued availability of credit from their key suppliers is even more critical to them," he said.

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