SAGE PUBLICATIONS LIMITED
Company number: 01017514
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
31 January 2019
Approved by:
Richard Thame
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 48%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 58%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Sage Publications Ltd standard payment terms are within 30 days of receipt of a correct, undisputed VAT invoice, agreed contract detailing payments due or a payment request agreed in writing by an authorised representative within the business.
The criteria for us to make a payment within 30 days is an approved purchase order and for the PO no. to be quoted on the invoice. Any invoice received without this will be paid, but could be paid later than 30 days.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Sage Publications is committed to ensure all invoices are paid as soon as possible even to the extent that SAGE pays every invoice regardless of term. This means we pay every invoice approved for payment at time of us generating the payment runs, leading to suppliers sometimes receiving funds up to two weeks early. All disputes are resolved by discussion either by phone or email by our dedicated accounts payable team in a fair and timely manner. If the supplier feels we haven’t met the standards mentioned, then this can be raised to the Finance Operations Manager who will then look in to the dispute and resolve or escalate to senior management as appropriate.
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.
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