Taulia: Over Half Of Businesses Say They Are Paid Late, Interest In Early Payments Continues To Grow
SAN FRANCISCO, CALIFORNIA, MARCH 18, 2024 – More than half (51%) of businesses say they are paid late on average, according to a survey conducted by Taulia, a leading provider of working capital management solutions.
Taulia’s global Supplier Sentiment Survey, which has been conducted since 2014 – with this year marking a decade since it launched – collected the views and insights from 11,300 businesses across its global network in over 130 countries.
When asked about business’ top motivations for wanting early payments, more than half (52%) said their main motivation was to address cash flow gaps. Other top reasons include:
- Optimizing working capital – 31%, up from 26% in 2022
- Ensuring payment predictability – 27%
- Ease of use – 14%
- Reducing Days Sales Outstanding (DSO) – 11%
While the survey revealed the desire for early payments is increasing, it also highlighted that businesses’ continue to exhibit poor payment practices. Only 44% receive payment on time, and just 3% are paid before the due date.
Bob Glotfelty, Chief Growth Officer at Taulia, commented: “In the current landscape of supply chain disruptions and a challenging inflationary environment, it is unfortunate to see late payments on the rise. Now more than ever, access to working capital solutions is crucial. Not only does it provide businesses with much-needed liquidity and payment flexibility, it also supports them in their day-to-day operations.”
About the Taulia Supplier Survey Sentiment Survey
Taulia’s annual Supplier Sentiment Survey received 11,900 responses from suppliers across the globe, ranging from SMEs to large corporations with revenues of over USD$5 billion. The first survey was in 2014.
About Taulia
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. Taulia’s platform and network of more than 3 million businesses enables customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. For more information, please visit www.taulia.com/cn.
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