|By PR Newswire||
|November 20, 2012 11:00 PM EST||
AMSTERDAM, November 21, 2012 /PRNewswire/ --
Over 30% of B2B receivables unpaid at due date, more than 5% defaulted on
Compared to one year ago, businesses in Asia-Pacific experienced a significant increase in the value of B2B receivables written off as uncollectable from 3.6% in 2011 to 5.0% in 2012. According to the November edition of the Atradius Payment Practices Barometer, focusing on Asia-Pacific, over half of the survey respondents anticipate intensifying their efforts to better protect their businesses against deterioration of trade credit risk.
The November 2012 Atradius Payment Practices Barometer is based on feedback from 1,661 businesses in Australia, China, Hong Kong, India, Indonesia, Japan, Singapore and Taiwan. At overall survey level, around 30% of the total value of domestic and foreign B2B invoices issued by survey respondents in the region was unpaid at the due date. The highest percentage of overdue B2B invoices was approximately 35% in Hong Kong and the lowest less than 20% in Japan.
More than 10% of invoices remained unpaid after three months overdue and over 5% of B2B receivables were defaulted on. This percentage reached a high of 7% in India and Singapore, and a low of around 2% in Japan. The impact of the high percentage of invoices that were paid late is evidenced by the variance between the average payment term recorded in Asia-Pacific (32 days) and the average Days Sales Outstanding of 44 days.
Compared to the same survey period last year domestic payment delays due to liquidity restraints rose to 53.5% compared to 47.7% in 2011 for respondents in Asia-Pacific. Indonesian respondents (70%) experienced the most problems with past due domestic B2B receivables. Payments from foreign customers were mostly delayed because of the complexity of the payment procedure or inefficiencies of the banking system (around 45% of respondents in both cases).
To reduce payment delays and payment defaults, over half of the survey respondents (53%) anticipate checking buyers' creditworthiness more often, particularly respondents in Singapore (68.0%) and China (64.5%).
Andreas Tesch, Chief Market Officer of Atradius N.V. commented, "Atradius expects exports from the Asia-Pacific region to grow just 3.4%this year; less than half that of 2011. While we forecast another 5% reduction in insolvencies in the US and stabile insolvency environments in other primary Asia-Pacific export markets, such as China, Japan and Hong Kong, continued uncertainty in the EU, including insolvencies stabilizing at a higher level, will limit export growth. In addition, GDP growth in China, the largest export and import market in the region, is expected to again slow, to 7.7%, in 2012 and to tick up to only 8.1% in 2013 reflecting reduced exports to western customers and a potential slowdown in domestic and important demand."
Tesch concluded, "On average, the trade credit risk environment for survey respondents deteriorated in 2012. Overdue payments to respondents inched up and payment defaults climbed 25% in 2012 raising concerns about the overall trade credit risk environment. In this environment, managing trade credit risk to protect cash flow and financial stability is of great importance. Our goal is to help these businesses achieve the security they need to continue driving global growth."
The complete report highlighting the findings of the November edition of the Atradius Payment Practices Barometer focussing on Asia-Pacific can be found in the Publications section of the Atradius.com website.
The Atradius Group provides trade credit insurance, surety and collections services worldwide. With a presence through 160 offices in 45 countries, it has a market share of approximately 31% of the global trade credit insurance market. Atradius has access to credit information on 100 million companies worldwide and makes more than 20,000 trade credit limit decisions daily. Its products help protect companies throughout the world from payment risks associated with selling products and services on credit.
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Feb. 20, 2017 04:00 AM EST Reads: 1,281
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 20, 2017 03:30 AM EST Reads: 6,125
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 20, 2017 03:15 AM EST Reads: 1,323
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Feb. 20, 2017 02:00 AM EST Reads: 6,079
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Feb. 20, 2017 02:00 AM EST Reads: 4,148
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Feb. 20, 2017 01:00 AM EST Reads: 825
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 20, 2017 01:00 AM EST Reads: 5,207
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Feb. 20, 2017 12:45 AM EST Reads: 2,389
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
Feb. 20, 2017 12:15 AM EST Reads: 960
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Feb. 20, 2017 12:00 AM EST Reads: 1,405
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Feb. 19, 2017 10:30 PM EST Reads: 6,149
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 19, 2017 09:30 PM EST Reads: 837
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often un...
Feb. 19, 2017 08:00 PM EST Reads: 2,838
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
Feb. 19, 2017 06:45 PM EST Reads: 3,155
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
Feb. 19, 2017 06:15 PM EST Reads: 1,093