It’s no secret that invoices that are paid late are a source of great frustration. Large organizations may be equipped to deal with delays, but for SMEs with less breathing space, hold-ups can have disastrous consequences.
All too often the fault lies at the door of manual processing, the root cause of many errors and delays. Here are some statistics from automation specialist Amalto about the state of manual invoicing in the US — and they don’t paint a pretty picture:
- 39% of all invoices sent in the US are paid late
- 61% of late payments are due to incorrect invoices
- 11% of customers never even receive their invoice in the first place
Download our infographic for more stats you can’t afford to ignore, and (this is the good news!) solutions for how to get paid faster
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