GOV.UK
SIEMENS HEALTHCARE DIAGNOSTICS LTD
Company number: 03050664
Reporting period:
1 October 2017
to 31 March 2018
This report was filed on 18 April 2018
and approved by Mr Russell Challis
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 52%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 25 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
90 days
Standard payment terms
The payment terms are assigned by the Business units on a case by case basis:-
Usage of payment terms in the reporting period is as follows
Payable within 60 days Due net 63% Payable within 30 days Due net, 29% Payable within 45 days Due net 6%, Payable within 90 days due net 2%
ICC Clearing transactions have not been included in this reporting as these clearing transactions do not result in transmission of monies via an external bank account, and is only offered to companies part of Siemens cash pooling process. ICC clearing transactions do not represent underlying payment performance transactions.
If we were to include the intercompany clearing transactions it would highly skew the KPI's and would not adequately reflect our payment practices.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
90 Days is the longest term used and is agreed on a case by case basis
Any other information about payment terms
No payments terms have been in use that had an element of any discounts.
Changes to payment terms were made after consultation with suppliers
Dispute resolution process
1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. a) Tel: 01276 696683 / b) E-mail joanne.lucas@siemens-healthineers.com
2) AP liaise with supplier to obtain and process missing invoices
a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler)
3) AP liaise with suppliers to confirm payment details (past and upcoming)
4) AP liaise with approvers to release overdue invoices for payment
5) Special team deals with ‘final demand’ cases and legal notices
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.
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