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.
Displayed to the nearest 30 days overdue to avoid identification.
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.
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.
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.
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.
This helps set the benchmark from which the delay can be evaluated.
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.