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Days Sales Outstanding

Find out how many days, on average, your company takes to get paid by customers. Benchmark against your sector and see the impact on cash flow.

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What is DSO?

DSO (Days Sales Outstanding) is a financial indicator that measures the average number of days it takes your company to collect cash from credit sales. The lower the DSO, the faster cash enters the business — and the healthier the company's finances.

A high DSO means the company is financing its customers with its own working capital, putting pressure on liquidity and potentially forcing unnecessary recourse to external finance.

DSO Formula DSO = (Accounts Receivable ÷ Period Sales) × Number of Days

Example: AR = £120,000 | 90-day sales = £600,000
DSO = (120,000 ÷ 600,000) × 90 = 18 days

The notes to the financial statements and the balance sheet are the usual sources for these figures. As an alternative, divide outstanding invoices by sales for the last quarter.

Sector Benchmarks — United Kingdom

Compare your company's DSO against typical figures for your sector. Data based on BACS, ONS and European trade credit studies. Under the Late Payment of Commercial Debts (Interest) Act 1998, the default B2B payment term is 30 days unless contractually agreed otherwise.

Sector Typical DSO Assessment Grade
Retail 20–35 days Excellent A
B2B Services 50–65 days Acceptable C
Construction 80–110 days High D
Public Sector (B2G) 60–100 days Very high E
UK average (SMEs) 50–55 days Above EU D
European average (EU27) 45 days Reference C

DSO by sector — detailed analysis

Construction and public works have the highest DSO in the UK — typically between 80 and 110 days. Structural causes include public-sector contracts subject to the Public Contracts Regulations 2015 (a 30-day legal maximum for public bodies, frequently breached), retention clauses (5-10% withheld until practical completion) and long subcontracting chains.

95 daysaverage DSO — UK construction
£23.4bnin late payments — UK SMEs
30 daysstatutory B2G maximum

Most common solution: invoice finance or factoring against public-sector and tier-1 contractor invoices — rates are lower because debtor risk is low, even if the payment term is long.

How to Reduce Your Company's DSO

A high DSO is not inevitable. There are practical, immediate strategies to speed up collections without damaging customer relationships — and the Late Payment of Commercial Debts Act 1998 gives you statutory leverage on overdue B2B invoices.

Invoice Finance / Factoring

Advance the value of your invoices within 24-48 hours, regardless of the customer's payment terms. Operationally, this eliminates DSO — the invoice is assigned and cash is available immediately.

More about factoring →

Early-Payment Discount

Offer a 1-2% discount for customers who pay within 10-15 days instead of 60-90. It's attractive to the customer, and for you the cost is much lower than that of a bank overdraft.

Calculate funding cost →

Invoice Immediately

Raise the invoice the moment a product is delivered or a service is completed, not at month-end. Every day of delay in invoicing adds directly to DSO — and to cash tied up in receivables.

Calculate late-payment interest →

Frequently Asked Questions about DSO

Does DSO include customers whose invoices have not yet fallen due?
Yes. DSO calculated using the accounts receivable method includes all outstanding invoices, whether overdue or not. For that reason, even a company with no bad debts can have a high DSO if its contractual payment terms are long. For a more accurate analysis, compare DSO against your average contractual term and against the 30-day default under the Late Payment of Commercial Debts Act 1998.
What's the difference between DSO and debtor days?
They are essentially the same thing. In the UK, the indicator is often called "debtor days" in management accounts and credit-control reports. Internationally, DSO (Days Sales Outstanding) is the more common term. The calculation method is identical.
Is a low DSO always a good thing?
In most cases, yes — it means the company collects quickly and has less capital tied up. However, an unusually low DSO can indicate that the business is offering payment terms that are too short, which may hurt its commercial competitiveness against rivals offering more flexible terms. The ideal balance depends on sector and strategy.

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Advance your invoices with factoring

Reduce your DSO to zero, operationally. Receive invoice value within 24-48 hours and release capital tied up in receivables. No personal guarantees, no red tape.