The average late payment time for a New Zealand business rose 9.7 percent during 2017, according to illion’s Late Payments analysis. Despite the annual increase, the average late payment time for the December quarter is just 0.5 days off the record low of 5.3 days set in 2016.
Late payment times have undergone a period of consolidation during 2017, after dramatic falls over the preceding six years. Since Q3 2011 the average late payment time for an overdue invoice fell 61.8%, whereas the past 12 months has seen average payment times edge 2.3% higher, from 5.8 days to 5.9 days. Since 2015, late payment times have generally ranged between 5 and 6 days.
Late payment times edged higher in the June quarter, although in absolute terms, the level of late payments remains near historical lows. While it is too early to be concerned about the rise in late payments over the past two quarters, any further increases will indicate a shift away from the recent pattern of falling payment times. One trend remains the same: the largest companies (with more than 500 employees) are the slowest to pay their accounts.
New Zealand Late Payments Analysis: Late Payment times edged marginally higher during the first quarter of 2017.
New Zealand Late Payment times edged marginally higher during the first quarter of 2017. The high rate of businesses that paid their bills on time – 80.5 percent – suggests the overall economic environment remains solid.
New Zealand Late Payments Analysis: Late payment times in New Zealand continue their historic decline
Late payment times for New Zealand business continued their historic decline during the fourth quarter of 2016.
Average business time to pay a bill in New Zealand is at an historic low - now 34.9 days
New Zealand invoice payment times have maintained their record-low momentum, averaging approximately 35 days for the last four quarters, despite increasing slightly over the second quarter of 2016.
On the path to adding $1billion in lending to the New Zealand credit consumer and annualised benefits of $328million to the New Zealand economy.
Leading credit data bureau and collections agency, Dun & Bradstreet, has appointed David Scognamiglio to Director of Consumer Markets in ANZ.
New Zealand invoice payment times remained steady during Q1 2016 after averaging 35 days for the previous three quarters.
Leading credit data bureau and collections agency, Dun & Bradstreet, has slashed the delivery time of free personal credit reports from ten business days to five.
Populist beliefs that women are more likely to spend up large on the credit card while men take more risks with their money are not backed up by reality.
Leading credit data bureau and collections agency, Dun & Bradstreet, supports the Inland Revenue Department (IRD) and The Treasury of New Zealand’s proposals to introduce legislation around greater business tax debt transparency to better protect the New Zealand business community.
Four years ago today, Comprehensive Credit Reporting (CCR) was permitted in New Zealand which has since proved a watershed moment for credit providers and consumers alike.
New Zealand invoice payment times marginally increased in Q4 2015 after rapid declines throughout the first half of the year.
Invoice payment times in New Zealand flatlined in Q3 2015 after declines in the previous three quarters, with recent economic data suggesting GDP growth is slowing.
New Zealand businesses paid their invoices at the fastest rate on record during Q2 2015, despite Statistics New Zealand reporting that weaker exports, stronger imports and a soft transport sector had dragged on the quarter’s GDP growth result of 0.4%.
Commercial cash flow appears to be in rude health, with analysis of invoice payments revealing that businesses are paying each other with record speed, although continued falls in dairy prices are expected to affect future performance.
Dun & Bradstreet Shifts to Partnership Model in Australia/New Zealand Market to Focus on Core Commercial Strategy
Dun & Bradstreet (NYSE: DNB) today announced it is shifting its Australia/New Zealand (ANZ) business to a Worldwide Network partner model. Archer Capital, a leading Australian private equity firm – via its newly-formed Credit Data Solutions business – will acquire the entirety of Dun & Bradstreet’s ANZ business, including consumer risk and debt collection, and commercial solutions, for AUD $220 million.
Businesses in New Zealand are experiencing a cash flow boost from the country's strong economic performance, with the average time taken for invoices to be paid falling to the fastest second quarter level on record.
In a first for New Zealand, banks and other lenders can now assess the creditworthiness of their customers using the comprehensive credit information made available under changes to the country's credit laws.
Consumer stress in New Zealand has fallen to its lowest level since the beginning of 2012 as the economy's ongoing expansion continues to boost the financial position of Kiwis and strengthen their capacity to borrow and spend.
Businesses have been paying their bills at the fastest rate recorded in 10 years of commercial invoice data, with payment times across New Zealand dipping below the 40-day mark in the last quarter of 2013 to an average of 39.6 days.
The number of business invoices that are being paid on time has risen to a 12-month high as the finances of New Zealand companies continue to benefit from a steady improvement in the local economy and healthy consumer confidence.