Greece: Relaxed payment terms
In Greece, the average level of outstanding debts as a proportion of total sales is 25%. More than a quarter of the companies surveyed say that the average receivable per debtor amounts to more than EUR 10,000. Since the Greeks also set long credit terms (105 days on average), liquidity may be lacking in other areas. Few companies expect the situation to improve in the future, while 35% even anticipate a further deterioration in payment practices.
Poland: Sticking to payment deadlines pays off
On average, 9% of Polish invoices are paid on time. At just 10% of sales, however, the level of outstanding debts there is considerably lower than that of companies in Russia, Greece and Romania. Poles allow just 37 days to pass between the expiry of the credit term and receipt of payment. More than two-thirds of Polish companies employ their own credit manager, while 75% cooperate with external service providers.
Romania: Checks on customers
Almost 90% of Romanian companies have their customers' credit standing checked before deals are concluded. The figure was only higher in Greece (92%). Companies seldom appoint in-house credit management experts or hire external debt collectors.
Russia: Fewer credit checks
Despite a high proportion of new clients, just under half of Russian companies on average check the credit standing of potential clients before transacting business with them. This means that they are at risk of bad debt losses. More than half of all companies in Russia employ credit management experts. On average, less than a fifth make use of outsourcing.
