On average, in December 2008, businesses paid their bills 23.54 days after they were due.
In December 2009 this figure had improved to an average of 20.88 days after the due date of the invoice.
The impact of good credit control can’t be felt closer to home than in a business’ cashflow. Mayo Wynne Baxter's Debt Recovery Solicitors advise clients that reducing that late payment average by just 3 days could make the difference between keeping afloat or going under.
Better still, effective credit control procedures can ensure that you are paid on time. For more information and advice on credit control and our debt recovery services, please contact Lucy Tarrant on 01273 775533 or email ltarrant@mayowynnebaxter.co.uk
Improved Payment Performance
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
