Invoice Utopia – A Vision of the Future for UK Businesses

Invoice Utopia is a comprehensive study examining the current crisis of late invoice payments and the impact on UK businesses. The report includes detailed research and analysis on the impact late payments have on job creation. We have also included an exclusive YouGov poll of over 1,000 UK business leaders about the impact late payments is having on their ability to recruit and invest.

The report puts forward some serious practical recommendations to help companies break the cycle of late payments, including investing in digital payment technologies and improving processes.

Key thoughts from the report:

  • Firstly, we need to face up to the facts – businesses wouldn’t pay employees late, so why is this happening with customers and suppliers?
  • We cannot allow this culture of late payments to continue unchallenged, particularly when the technology exists to prevent it
  • The impact late payments is having on businesses:
    • 7% will make redundancies
    • 17% will stop planned investments
    • 16% will be unable to pay salaries
    • 10% will reduce innovation spend