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Irish businesses improved their payment performance by almost four days in the first quarter of 2014, according to the latest insights from Experian, the global information services company.

Businesses in Galway are the fifth slowest in Ireland to pay their bills, averaging 28.44 days beyond terms in the first quarter of the year.

Irish businesses improved their payment performance by nearly three and a half days in the second quarter of 2013, according to the latest insights from Experian, the global information services company. The research also shows that businesses in Mayo are seventh fastest to pay their bills, with an average 20.25 days beyond terms.

The payment performance of Irish companies has remained consistent for the third quarter in a row, according to the latest insights from Experian, the global information services company. Businesses in the Republic of Ireland paid creditor invoices on average 24.34 days beyond invoice terms, consistent with the performance in Q1 and Q2 of 2012. However, when compared with the third quarter of last year, 2011, there has been a year on year increase of two days.

Businesses in Ireland paid their bills two days slower on average during the first six months of the year when compared with the same period last year, according to the latest insight from Experian, the global information services company. Experian analysis also reveals that businesses in Westmeath were fifth quickest to pay bills during the first half of 2011.

Businesses in Galway are the sixth quickest in the country to pay their bills in the first half of this year, according to latest research.

Reflecting tightening economic conditions, Irish businesses are taking longer to pay their bills, according to the latest figures on payment performance trends in Ireland, released by Experian®, the global information services company.