DIMENSION DATA NETWORK SERVICES LIMITED
Company number: 01505004
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
23 April 2019
Approved by:
David Wilcox
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 60%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard Payment Terms are 45 days + BACS. BACS runs are performed twice a month, ie invoices that are on 45 days are paid on the 5th or the 20th following the 45 days based on the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All discrepancies are highlighted back to the Vendor upon receipt of the invoice. Both Parties are expected to communicate to bring the query to a satisfactory conclusion. Disputed invoices are reviewed with the Internal Buyers. Invoices in query are held back from the Payment Runs. If the dispute is not resolved within the Contractual Payment Terms this will be reflected in the data provided in this report. The aim is to resolve queries within the payment period. During this specific reporting period a particular Supplier issued a high volume of incorrect invoices. These followed the Company dispute process but impacted the reported figures. These have now been settled. Any delays in payment are invariably due to queries between the Vendor and our Company and as such the Vendor will be fully aware of the reason for the delay.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No