The cash flow of Australian firms is improving, with businesses paying their bills more than three days faster than 12 months ago, Dun & Bradstreet have reported.
However, despite the year-on-year improvement and a fall from the 2009 peak of 57.4 days, payment days remain substantially above pre-GFC levels.
D&B’s March quarter 2012 Trade Payments Analysis, which examines more than eight million current accounts receivable records, reveals the average payment time for Australian firms is 52.6 days.
This figure represents a slight increase on the prior quarter and remains well above the five-year low of 51.4 days, which was recorded in the third quarter of 2007.
