Company number: 00016033
and approved by Olcay Yilmaz
Average time taken to pay invoices: 48 days
Invoices paid:
Invoices due but not paid within agreed terms: 21%
30 days
120 days
The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage is as follows 33% Due net within 30 days ( with 8% from Document Date , 25% from end of month ) , 29% Within 60 days ( with 17% from document date and 12% from end of the month ), 11% InterCompany Clearing transactions due net end of the month (default), 9% within 90 days net from document date , 6% within 96 days from invoice reciept, 4% within 14 days from document date , 3% immediate payment, 3% within 45 days .Remainder payment terms occurrence less than 1% each and range from immediate to 120 days and assigned on case by case basis. Please note Intercompany clearing terms are available to Siemens companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens cash pool. > KPI's excluding ICC clearing transactions ( i.e. Payments with money transmission only ) are restated as follows Average days to pay : 54 days ,Payment timing : 30 days 23% , 31-60 days 38%, 61 days & above 39%, Late invoices : 22%
During the period changes were made to payment terms for specific suppliers after consultation with suppliers.
The Purchase Order issued to the supplier would detail any new payment terms.
120 days
No further comment provided
N/A
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: 0845 602 6873 b) E-mail apsupport-gbandi.in@siemens.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
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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.
Yes
No
No