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Calculating on-time payments
December 29, 2021
Q. I see the benchmark for "paid on time" in IOFM, but are there any other details that can be provided about calculating on time payments? Is common practice to add in a 1-2 day buffer?
A.
(Answered by IOFM Executive Editor Jess Scheer)
The benchmarking survey simply asked “how often do you pay your invoices on time” — leaving it up to the respondents to answer in terms of what’s “on time” for them. Generally, that’s Net30 — but it can vary from industry to industry.And of course that was…
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