GOV.UK
COGNIZANT WORLDWIDE LIMITED
Company number: 07195160
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 29 January 2019
and approved by James Yu
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 23%
- in 61 days or more: 23%
Invoices due but not paid within agreed terms: 23 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Within Cognizant’s CAPPS system, payment
terms are established for each supplier. Invoices
processed by Accounts Payable will reflect those
terms and the payment due date will
automatically be calculated by the system if the
invoice matches to the order placed. Accounts
Payable does not designate a payment date as
this is entirely system-driven. For example, a
supplier invoice dated July 1, 2014 is received by
Accounts Payable on July 9 and is entered into
the CAPPS system on July 10. If the payment
terms are "Net 30," the system will automatically
calculate a payment due date of August 8, 2014
for all accepted and undisputed transactions.
Otherwise the invoice will be rejected and parked
for clarification and the due date for payment will
start from the date of invoice rectified, or from the
date of receipt of a revised and acceptable
invoice by Accounts Payable.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Person responsible for ordering the goods or
services will review the invoice and address any
disputed directly with the supplier. Depending on
outcome, supplier will either issue a (full or
partial) Credit Note or invoice will get paid as is.
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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.
No
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