In the UK, data decay remains one of the biggest challenges for businesses with poor data, draining the average company about £4.9m annually. In a typical year 1.2m of the UK population will move, 600,000 people will die, a quarter of a million people will move to the UK and the Royal Mail will make more than half a million address changes to PAF (its Postcode Address File of 29m UK addresses).
The economic downturn continues to throw up many challenges, even for those companies who are currently managing to weather the storm. Small businesses are suffering further at the hands of overdue bills or worse still, customer debts that are spiralling out of control. Ultimately debt recovery is becoming one huge headache and more businesses than ever are having to spend their time chasing debt.