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Is It True? A Credit Check Suggests...
The recent media reports about large companies delaying payment has encouraged me to look at the ‘inside information.’
Late payment and the cash flow pressure it puts on small businesses is becoming a heated topic. The most recent furore has now put Debenhams in the spotlight after reports in the press suggested that the high street store is increasing the time it takes to pay suppliers.
I imagine the two questions that most concern a credit controller are, can they pay, and when. In the case of Debenhams the recent fuss has been about the ‘when’. So I decided to see what a credit check on Debenhams with First Report would show a potential supplier interested in seeing actual payment records.
A shameless plug: the payment records in our credit reports show the overall trend, and also show days beyond terms by size of invoice, from smaller invoices under £1,000 up to suppliers who have issued invoices for £100,000 or more.
So are Debenhams increasing the time they take to pay, and do they make smaller suppliers wait longer for payment? I’ll let you decide how you would interpret the data. Here’s a link to the latest payment performance in our report on Debenhams which shows payment records up to last month.
If you’re not getting payment records in your credit reports, contact our Helpdesk and open an account with us.