Intrum’s Post

It’s finally time for cautious optimism and businesses are starting to look at potential new growth opportunities, according to Intrum’s latest European Payment Report. However, late payments remain a significant problem. Did you know that European businesses are waiting on estimated €10.5 trillion in outstanding payments? That is close to the combined GDPs of France, Germany and the UK. For more insights read our newly published report: intrum.com/epr2024

Did you know that European business are owed €10.5 trillion in outstanding payments (30% of total GDP and close to the combined GDPs of France, Germany and the UK). Read more in the latest European Payment Report!

🔎 Discover the Latest Insights: Our Annual European Payment Report (EPR) has Arrived! 📊 👋 We're thrilled to unveil the findings of our highly anticipated European Payment Report (EPR), providing invaluable insights into late payment trends, invoice practices, and financial risks across the European landscape. 🌍💼 This year, our comprehensive survey engaged with 9,255 companies spanning 15 diverse industry sectors, offering a deep dive into the pulse of European business. 📈 Key highlights from the report include: 📍 Amidst challenging economic conditions, executives maintain a cautious optimism, with a notable 41% intending to implement cost-cutting measures – the highest figure since 2021. 💼✂️ 📍 Shockingly, businesses expend an average of 73 working days each year chasing late payments, underscoring the urgent need for streamlined processes. ⏳💰 📍 European enterprises face a staggering €10.5 trillion in outstanding payments, representing 30% of total GDP and approaching the combined GDPs of France, Germany, and the UK. 💶💼 📍 The allure of AI continues to grow, with half of surveyed executives recognizing its potential to enhance late payment management and operational efficiency. 🤖💡 Whether you're a business leader, financial strategist, or industry enthusiast, the EPR serves as a crucial resource for understanding and navigating the complexities of the European business landscape. 📈 Don't miss out – explore the full report today and empower your organization for success in an ever-evolving market. 💼🚀 👉 Download the full report on http://intrum.com/epr2024 #EuropeanPaymentReport #EPR #Finance #AI #BusinessInsights #Intrum #LatePayments #EconomicTrends

I am excited to announce the release of the European Payment Report 2024. This comprehensive report, based on insights from 9,255 executives across 25 European countries, reveals that corporate cost-cutting is at a four-year high, even amidst growing economic optimism. See the link below to explore what information we got for you this year. #intrum #europeanpaymentreport #epr #epr2024 https://lnkd.in/eEUXQbE7

Did you know that European businesses are waiting on €10.5 trillion in outstanding payments? That is about 30% of total GDP and close to the combined GDPs of France, Germany and the UK. How confident should executives be that this enormous sum of money will flow on time and what proportion of their receivables will be delayed, or even written off as bad debt? Read more our newly published report: intrum.com/epr2024

Did you miss the latest insights from Intrum's European Payment Report? In this 4 minute video, our President and CEO Andrés Rubio comments on the main findings from this year’s survey.   💡 Corporate cost-cutting at a four-year high despite growing economic optimism   💡 European companies are waiting on receivables of at least €10.5 trillion. How confident can they be that this enormous sum will be paid on time and in full?   💡 AI enthusiasm is growing as executives consider applications throughout the business, including back office.   Download the full report here: https://lnkd.in/d59BCrvQ

€10.5 trillion. That is the amount owed to European businesses by customers and debtors, as revealed by Intrum and FT Longitude in the latest #EuropeanPaymentReport. The insights from nearly 10,000 executives across 25 countries show cost-cutting in businesses is at a four-year high, but the time spent on chasing late payments is ever-growing. How confident can they be that these enormous sums will be paid on time and in full? Read more in the report: https://lnkd.in/eixZMpeQ #ThoughtLeadership #B2Bcontent

Did you know that European businesses are waiting on €10.5 trillion in outstanding payments? That is about 30% of total GDP and close to the combined GDPs of France, Germany and the UK. How confident should executives be that this enormous sum of money will flow on time and what proportion of their receivables will be delayed, or even written off as bad debt? Read more our newly published report: intrum.com/epr2024

The changing payments landscape: Optimism and opportunity ahead   This year's findings shows corporate cost-cutting at a four-year high despite growing economic optimism. Businesses are losing more than a quarter of the working year (65 working days) chasing late payments. Early signs of growth in 2024 led to hopes that the UK economy was turning a corner after a sluggish 2023. With a general election called for July 4 and the Conservative Party trailing in the polls, change is on the cards, so businesses are preparing for a new political landscape in 2025. Meanwhile, late payment is an ongoing problem: over half (55 per cent) say they pay suppliers later than they would accept from their own clients, 16 percentage points higher than the European average. Interested in seeing the data and the detail that sits behind these findings? Click below, and get in touch with our team if you would like to learn more. https://lnkd.in/gPFaVT_X

🔍 Tackling Late Payments: Cash Flow Solutions for Small Businesses Late payments are a major cash flow challenge for small businesses, with 60% of UK SMEs affected monthly. Here are some effective strategies to combat this issue: 1️⃣ 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁 𝗖𝗹𝗲𝗮𝗿 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗧𝗲𝗿𝗺𝘀: Ensure your invoices clearly state payment terms, such as "Net 30" or "Due upon receipt," to set expectations. 2️⃣ 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲 𝗜𝗻𝘃𝗼𝗶𝗰𝗶𝗻𝗴: Use automated invoicing systems to send reminders and follow-ups. Businesses using automation see a 20% reduction in late payments. 3️⃣ 𝗢𝗳𝗳𝗲𝗿 𝗘𝗮𝗿𝗹𝘆 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁𝘀: Incentivize timely payments with discounts, like 2% off if paid within 10 days. This can improve cash flow by up to 30%. 4️⃣ 𝗖𝗵𝗮𝗿𝗴𝗲 𝗟𝗮𝘁𝗲 𝗙𝗲𝗲𝘀: Implement a late fee policy to discourage overdue payments. Companies that enforce late fees experience a 25% faster payment rate. 5️⃣ 𝗕𝘂𝗶𝗹𝗱 𝗦𝘁𝗿𝗼𝗻𝗴 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽𝘀: Maintain good communication with clients to encourage prompt payments and resolve disputes quickly. At Wyzr, we support small businesses with AI-driven financial tools to manage cash flow and reduce the impact of late payments. Sign up for our beta at https://wyzr.uk #SmallBusiness #AI #CashFlow #FinancialManagement #Wyzr