Features and benefits

• Amount owed

  Subscribers can analyse overdue invoices against any given organisation according to their size and establish if larger invoices are more prone to delay or if the issue is prevalent across invoices of all sizes.

• Number of days overdue

  Displayed to the nearest 30 days overdue to avoid identification.

• Invoice status: Currently outstanding, paid or written off

  Cross referencing the status of an overdue invoice with other data such as the presence of a purchase order, the reasons given for its delay or the contract status (see below) reveals whether the causes may be systemic or isolated.

• Reasons given why payment is late

  Knowing why an invoice was paid late or remains outstanding provides vital context and help with making decisions about the level of risk involved in doing business with an organisation. Some reasons are genuine while others stand out as stalling tactics. To see examples of the kind of reasons given by debtors and how to prepare for them in advance, click here.

• Presence of a purchase order

  The absence of a purchase order can make it harder for invoices to be processed in a timely fashion. This isn’t always the fault of the debtor. Where a PO system was not in use, this may be reflected in the notice if ‘N/A’ is displayed.

• Contract status

  Has the job been completed / goods delivered? For example invoices may still be overdue while a contract remains incomplete if it spans an extended period of time and payment has been agreed and scheduled for settlement by installments.

• Creditors standard payment terms

  This helps set the benchmark from which the delay can be evaluated.

• Agreed payment terms

  The absence of agreed payment terms can cause friction where the debtor may settle according to their terms and the supplier may expect to be paid according to their terms.