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Past Due Accounts Receivable at 12.14% in February Cortera, a provider of collections and credit data for commercial enterprises, released its most recent data that assesses the overall economic health of a region based on how well companies are paying their suppliers. The report shows that, nationwide, the total ratio of accounts receivable past due in February was 12.14%, down slightly from the 12.51% reported for January. However, data shows more past-due accounts are transitioning to "qualifier" status - which includes liens, bankruptcy, judgments, and accounts being placed for collections by the state. According to Cortera, the number of accounts characterized as qualifiers reached 4.25% in February, up from 3.94% in January. Highlights of the analysis show: "With 28 states improving since last month there is a hint of good news," said Cortera CEO Jim Swift. "It's still a tricky environment out there with states like Minnesota and Wisconsin that both saw their respective past due percentage and unemployment deteriorate in the last month. New England is also starting to be impacted with Rhode Island and Massachusetts companies seeing their past due percentage grow by 18% and 10% respectively. We continue to watch the performance of businesses as the federal stimulus money begins to work its way into the most impacted regions." Cortera's database tracks 18 million public and private companies in the United States based on thousands of trade payment contributors and contains over $250 billion in accounts receivable information. A state-by-state breakdown of Cortera's accounts receivable metrics data is available here. Tuesday, March 17, 2009  Send a letter to the Editor, Stuart Papavassiliou at sppapa@monitordaily.com. To get your company’s news included on the monitordaily.com site and published in the Monitor, contact Chris Moraff, Associate Editor, at 610.293.1300 x112 or email news to cmoraff@monitordaily.com. If you would like to search our News Archives, please click here. |
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