Why Bancoli?

48% of customers delay payments.

Source: Atradius

52% of businesses are asked for extended terms.

Source: Atradius

On average, most businesses offer customers 28-day credit terms but the average days sales outstanding is 67.

Source: Atradius

It takes longer to get paid than any time in the last decade.

Source: Atradius

Approximately 17% of business customers do not adhere to supplier credit terms.

Source: Credit Research Foundation

In the digital advertising industry:

• 6% of invoices are paid in under 30 days.
• 94% of invoices take over 30 days to be paid.
• 62% of invoices take over 60 days to be paid.

On average, companies write off 4% of accounts receivable as bad debt. For a $10 million company, that means they are writing off $400,000 each year.

61% of late payments are due to compliance or administrative problems such as incorrect invoices or receiving the invoice too late to process payment on established credit terms.

Source: Credit Research Foundation

50% of companies wait between 10 and 25 days for invoice approval.

Source: Paystream Advisors

27% of financial executives stated that customers didn't pay on time because they either didn't have the money or they were unable to contact the customer to resolve the issue.

Source: CFO.com

According to Credit Today, only 20% of credit departments have formalized policies and of that small percentage:

• 19% said they update their manual every two years.
• 13% said every 3 years.
• 15% reported they only change when they need to.
• 12% said "other".

47.93% of SMBs in the B2B sector rely on limited functionality in accounting or ERP systems to manage credit and collections.

Source: study by e2b teknologies

53% of midmarket B2B companies use spreadsheets to manage their accounts receivable.

Source: study by e2b teknologies

94% of spreadsheets contained errors.

Source: Dartmouth College's Tuck School of Business

Companies who rely on manual processes to manage collections spend 15% of their time prioritizing their activities, 15% of their time gathering information to make collections, and only 20% of their time communicating with their customers about payment.

Source: Paystream Advisors

In contrast to the above statistics, companies who are using accounts receivable automation software spend only 6% of their time prioritizing their activities, only 6% of their time gathering information for collections calls, and 62% of their time communicating with their customers about payment.

Source: Paystream Advisors

Only 4.13% of midmarket B2B companies use accounts receivable management solutions in their accounts receivable departments, which means 95.87% of midmarket B2Bs are working harder, not smarter when it comes to accounts receivable management.

Source: study by e2b teknologies