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As businesses around the world emerge from lockdowns and hope to rebuild their revenues back towards normal, there’s a new alternative data source to track every step of the journey.
Sidetrade, a provider of artificial intelligence-driven software for companies to accelerate their receivables, has a tracker for overdue payments from other businesses. It draws on a data lake of 26 million invoices, in aggregate worth €54 billion, submitted between 3.7 million businesses across six European countries: France, UK, Spain, Italy, Belgium and the Netherlands.
That group includes all the countries hardest hit by the pandemic.
The good news is that the percentage of invoices more than 10 days overdue, which rose alarmingly during the lockdown as companies strove to conserve cash, peaked at around the end of April.
As people go back to work, we see businesses ready to make purchases again.
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