Fewer businesses are blaming their own systems or disputes and queries as reasons for late payment, according to the latest research from the Credit Management Research Centre (CMRC), a member of the Better Payment Practice Group.
The CMRC Quarterly Review, published in July, surveyed more than 1,100 companies from a range of sectors and company sizes. The survey found that only 22 per cent of businesses are using procedures, systems, disputes or queries as excuses for paying late, compared with 34 per cent in July 2000.
There was also a slight improvement in the percentage of businesses paying late intentionally, from 39 per cent two years ago to 36 per cent now. Despite evidence of better credit management processes, economic conditions have had an impact, with 42 per cent citing financing difficulties as a reason for paying late, compared with 27 per cent in July 2000.
