Insight & Analysis

Press Release: Late payments stifling B2B growth

Published: Mar 2021

9th March 2021 – With extensions to the furlough scheme and holiday on business rates announced in the chancellor’s spring budget, UK businesses got a much needed boost this week. But new research from global payment technology expert BlueSnap shows that outdated accounts receivable (AR) processes are the real threat to B2B cash flow.

Newspaper press release

Key findings include:

  • 93% of B2B organisations in the UK experience negative consequences due to their current approaches to AR, with more than a third (37%) unable to forecast cash flow accurately.
  • An average of 30% of a company’s monthly revenue is tied up in AR, awaiting payment.
  • 81% of senior decision makers believe that the future of their business is threatened by a lack of cash flow, brought upon by overdue invoices.
  • 31% of businesses have difficulty keeping employees as a direct result of AR processes – perpetuating a vicious cycle of recruitment, job dissatisfaction and resignations.
  • 41% of senior decision makers admitted that at least part of their organisation’s practices are not automated. These included faxing (32%) and posting (40%) invoices and accepting payments in cash (13%) and physical cheque (11%).

All our content is free, just register below

As we move to a new and improved digital platform all users need to create a new account. This is very simple and should only take a moment.

Already have an account? Sign In

Already a member? Sign In

This website uses cookies and asks for your personal data to enhance your browsing experience.