How is payment data going to benefit my company?
It’s about seeing the likelihood of a company staying solvent, as well as how promptly they pay creditors. This data is an invaluable tool for cash flow projections and to identify habitual late payers; reducing the risk of bad debt. The majority of companies that enter into administration will show some form of sub-standard payment behaviour, either late payments or no payment at all. Therefore, payment data can prove crucial when contemplating business transactions with a company.
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