94% of the companies participating in this survey believe that failure to meet payment deadlines is extremely serious, as it jeopardizes the very survival of the business! And the situation in September 2017 is not reassuring, with payment delays for SMEs worsening to 14.5 days (up from 11.8 days in 2016). It should be noted that, at the same time, large companies are experiencing an average decrease in their payment delays (9.6 days in 2017 compared to 10.4 days in 2016). What is even more concerning for SMEs is the severity of the delays, with an increase in delays of more than 30 days, rising from 4% to 11%.
Large companies are not immune to this trend, as late payments of more than 30 days have risen from 9% to 20%. There is no doubt that companies must take control and demand greater discipline from their paying customers. Unfortunately, this is often wishful thinking when one considers—as 65% of the companies surveyed do—that it is their own cash flow difficulties that lead them to delay payments!
The answer lies within each company: by professionalizing accounts receivable management to improve performance and put an end to delaying tactics. It is also essential to find ways to optimize cash flow financing for microbusinesses and small and medium-sized enterprises, especially during this period of economic recovery.