The platform gathers data daily from around 9,155 of the UK’s largest companies reporting their payment practices (with this number set to grow), which is presented in “easily digestible” graphs showing the average days to pay and payment, as well as the payment percentage for all published years. Businesses can also view more information from the latest and previous payment reports to see how many days a company has taken to file their payment data and if they have breached the mandatory 30-day requirement reporting obligation. Recent research by Company Watch highlights the detrimental impact of late payments, with approximately 50,000 business closures attributed to this issue, and an estimated two million UK SMEs suffering negative consequences. Moreover, timely payments to small businesses have the potential to bolster the UK economy by £2.5 billion annually. To read Company Watch’s news release, go to https://blog.companywatch.net/resources/how-business-payment-data-can-help-you-manage-risk.