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Atradius has released a new report on the payment practices of European
businesses and the protective measures they take to ensure accounts receivable
are paid.
Together with the Financial Times Germany, the company interviewed 1,200
companies from Germany, Great Britain, France, Italy, the Netherlands and
Belgium to create the Atradius Payment Practices Barometer, an ongoing study
assessing the payment behavior of domestic and international trade partners.
"Understanding the payment patterns of potential European customers is of vital
importance to companies looking to expand overseas trade," says Scott Pales, a
vice president at the U.S. arm of Atradius Group.
"Many European businesses routinely take 60 days or more to settle their debts.
"The report also shows that timeframes for payments to domestic and
international business partners are often different, and foreign businesses
typically have to wait longer to be paid."
According to the study, businesses in Germany and the Netherlands have some of
the best payment practices in Europe.
Businesses in Italy and Great Britain were found to take the longest to meet
their obligations to international business partners.
"Atradius and the Financial Times will continue to investigate the payment
practices of European companies within the framework of a study that will be
released twice annually," added Pales.
"We believe tracking and reporting on corporate payment practices in these key
European economies will help exporters more prudently maximize sales
opportunities."
Source:
RedAlert
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