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Good Business Pays and Company Watch partner

Tuesday 9th April, 2024

Campaigning group Good Business Pays and financial risk solutions provider Company Watch announce a new partnership to bring greater insight in the battle to bring an end to slow and late payment of supplier invoices.

Terry Corby, CEO of Good Business Pays and Craig Evans, CEO of Company Watch, found they shared an instinct that the poor payment practices of a company were often a sign of deeper financial problems. Both had arrived at the same conclusion through the different insights discovered at each of their organisations. As a result, they decided to make both their insights available for anyone to see.

Over the past twelve months, Good Business Pays and Company Watch have worked together to find the best way to bring together the payment performance data published by Good Business Pays and the financial health risk data published by Company Watch into one view. But it was important to understand the size of the problem across a broader number of companies than just those studied in the Who Cares? report.

Since their formation in 2021, Good Business Pays is constantly researching different ways to understand payment culture. In 2023, they concluded that it might be too easy to assume that a late or slow paying company was in financial trouble, and so decided to carry out some research (Who Cares?) into large companies that had gone into administration and study their payment performance in the years leading up to their downfall. The results were fascinating. Good Business Pays looked in detail at almost all the high-profile business failures since 2017 and found there was a clear pattern of poor payment practices at those companies who then went into liquidation. Companies studied included: Credit Suisse; Arcadia Group; Dorothy Perkins; Top Shop Top Man; Selfridge; Wallis; Evans Retail; Burton Trading; Debenhams; McColl’s Retail Group; Joules; Midas Construction; Flybe; Tuffnells Parcel Service; and Lloyds Pharmacy.

Company Watch was founded in 1998 to provide a definitive way to score financial accounts in order to manage credit risk. They are now on a mission to revolutionise the traditional approach to commercial credit scoring in the age of open (and big) data.

Company Watch led the disruption of the credit risk management market in the 2000s. They are positioned to be industry leaders, applying cutting-edge machine learning techniques to new, alternative data sources to deliver unprecedented accuracy for their clients.

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Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, eCommerce and other financial management system providers, Avalara delivers cloudbased compliance solutions for various transactional taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Canada, the U.K., Belgium, Brazil, and India.