South Plainfield, NJ, July 30, 2013 – Credit2B, the world’s leading web-based trade
credit community that provides unparalleled intelligence on common customers,
today reported results for its 2013 First Half Aggregate Payment Quality Index (“PQI”).
As of June 30, 2013, the average PQI was 81 with a post recession high of 82 and a low of 79, indicating businesses are successfully meeting the terms of their suppliers with more consistency than any time within the last six years. An average PQI of 81 is the highest average PQI since the 2008 recession began, indicating that the slow recovery is indeed steadily coming along. Additionally, the average total owing for these businesses in the study trended upward for the first 6 months of this year compared with the prior year, indicating more credit was being extended as payment terms continue to remain strong.
The Credit2B Payment Quality Index is a weighted and seasonally adjusted index derived from the Credit2B accounts receivables trade payments database of over 100 million payment experiences representing a cross section of 5 million companies in the sample. The Credit2B PQI measures the probability that a trade creditor will collect its money within its terms of sale on a scale of 0-100 (100 being perfect), effectively serving as a key indicator of the health of US business.
Using patent-pending technology, Credit2B (credit2b.com) is a platform that empowers peers to exchange trade credit data and share common experiences. Built as a cloud-based application, Credit2B today delivers remarkably, high quality and timely information which is validated by a network of trusted connections. Credit2B is remarkably simple to join, create connections and access huge amounts of information from peers and third party databases through a high-fidelity experience.