Heaping Debts: Over 60% of German Companies Struggle with Late Payments, Finds Atradius Survey
Frankfurt
Reoccurring Delays with Every Second Payment
The digital age may bring forth endless opportunities, but it also seems to breed a new menace - delayed payments. A survey by credit insurer Atradius, involving more than 200 German companies of varying sizes, shines light on this issue, with a staggering 60% admitting a deterioration in their customers' payment behavior[1]. The survey, conducted in late March and early April, uncovered an alarming average of 57% of invoices overdue[2].
Credit insurers like Atradius play a crucial role in managing risk for businesses in the face of such financial turbulence. Across Western Europe and the UK, customer payment risks are displaying a volatile landscape[3]. However, the Atradius survey provides limited specifics about German companies' trailing payment patterns[1].
For a clearer picture, obtaining the Atradius survey findings directly or waiting for more detailed reports on the matter may be essential. Meanwhile, it's no joke for businesses wrestling with these delays - the consequences can be far-reaching and impact not only their cash flow but also their reputation. So, it's essential for companies to reinforce their credit management strategies to weather the storm of unpredictable payment behavior.
In the digital age, businesses in the industry face a challenging financial landscape due to delayed payments, as evidenced by a survey by Atradius, which found that over 60% of German companies have reported a deterioration in their customers' payment behavior. To mitigate the risks, companies must strengthen their credit management strategies within the business sector.
