In Serbia every third invoice is paid late

Companies in Serbia have, generally speaking, a very bad habit of not paying invoices on time with actually every third issued invoice being paid later than required. After the invoice payment terms expire, companies wait additional 50 days to get their money.

This is what a research conducted by the EOS Matrix Company has shown. „When clients fail to pay until the set deadline, companies, on average, have to wait around 50 days to get their money, which is the longest waiting period in Europe where companies usually wait 21 days for their invoices to be paid. The companies involved in the research think that nothing will change for better in the next two years regarding payment of invoices“, Ivan Nikolic from the Economics Institute says.

He adds that Serbia is at the very top of the list in Europe in terms of the number of payments due. Every third invoice, or 31% of all issued invoices, are not paid on time.

Nikolic also says that payment habits are very different in private and public companies. In Europe, 79% of private companies settle their obligations on time. Public companies, on the other hand, are given the longest payment terms in Europe (46 days) and only 67% of them pay invoices on time. This is especially pronounced in retail sector.

In Serbia, companies usually wait over a month and a half after payment terms expire to have their invoices paid. As for the reasons for latency in payment, Nikolic says that the 22% of the surveyed companies said it was investment deadlock, while 19% of them quote difficulties with liquidity. Then there is high indebtedness (18%), unemployment (7%), conjuncture (6%), complaints about services and fraud (4% each).

(eKapija, 11.05.2017)

This post is also available in: Italiano

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