96% of businesses have had outstanding payments for 10+ days over the 2020 year, according to a new Forrester Consulting study commissioned by GoCardless.
One of the key findings of the study is that having a high DSO is a key operational challenge for many businesses. While only 4% of businesses have a DSO of less than 10 days, the research shows four out of five businesses have wait times of 20-30 days to receive payments.
In addition to this, almost half (47%) of businesses say that the time taken to collect their accounts receivables has increased in the last 12 months - this demonstrates the struggle for many businesses to get paid in the current challenging environment of COVID-19.
Further findings include:
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