2024 Benchmark · The starting point

The year collections got slower.

Collection cycles lengthened year over year, and 2023 closed with the sharpest jump in years — 5%. This is the survey that put billing and collections at the top of the 2024 priority list, and the baseline every number in our 2026 report is measured against.

Overview

2024 began with an alarm bell about collections. Collection cycles were lengthening year-over-year with the end of 2023 marking the greatest increase (5%) seen in years. As a result, most firms and analysts put billing and collections process solutions as one of the top strategic priorities of 2024.

BUYER’S GUIDE

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