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Product Description
Trade Payment Data helps you manage and improve your cash collection strategies by combining your customer's payment data with our International Payment Database to provide you with the ultimate solution in managing risk exposure and cash collection strategies. By anonymously sharing your ledger information, you can access real time information about your customers' payment trends and history. A change in a customer payment habits is a key identifier of possible financial difficulty and represents one of the most predictive elements when analysing a company's creditworthiness before financial documents such as balance sheets are filed. In 2015, 60% of invoices were paid late contributing to 20,000 company closures in the same year and over 70,000 in the past 3 years.