Company number: 02844851
and approved by Neil Smith
Average time taken to pay invoices: 62 days
Invoices paid:
Invoices due but not paid within agreed terms: 3%
30 days
115 days
The percentages provided in the payment statistics above include payments made to Vodafone Group entities providing goods or services to Vodafone Global Enterprise Limited. Vodafone intercompany payment terms include many transactions with payment terms up to 115 days. These payments are included in our reported statistics as required and this therefore impacts the payment statistics. If intercompany payments are excluded from the statistics, they are as follows: Average time to pay in days – 49 days Split of payments made under qualifying contracts in the reporting period A) Percentage of invoices paid between day 1 and day 30 (inclusive) – 55% B) Percentage of invoices paid between day 31 and day 60 (inclusive) – 16% C) Percentage of invoices paid on or after day 61 – 29% Payments due in the reporting period which have not been paid within the agreed period – 13% Our standard payment terms are as follows: General procurement agreements: For external suppliers Vodafone Global Enterprise Limited’s standard payment terms are 60 and 90 days from the date of receipt of invoice. 90-day standard payment terms tend to be applied to contracts with larger suppliers for higher values. Where a supplier is classed as a small supplier, in accordance with the UK Companies Act, or where the relevant agreement relates to the provisions of goods or services for supply to public sector customers, Vodafone Global Enterprise Limited’s standard payment terms are 30 days from date of receipt of invoice. For procurement from other Vodafone Group companies, Vodafone Global Enterprise Limited’s payment terms are up to 115 days. Longer or shorter payments terms may be agreed as part of a wider commercial negotiation of the relevant agreement. Any deviation from standard terms will take into account, amongst other things, (i)the type of goods or services provided and undertaken, (ii)the size of the supplier and its wider corporate group, (iii)the supplier’s relationship with the wider Vodafone Group and (iv)any other relevant commercial factors. Additionally, Vodafone Global Enterprise Limited has a number of legacy framework agreements which may be on longer or shorter terms which will be reviewed at renewal with the objective of reducing the payment terms for small suppliers to 30 days.
Answer not provided
N/A
275 days
Vodafone Global Enterprise Limited maximum contractual payment period in the reporting period arose under an agreement entered into with a very large multinational supplier for outsourced services. Invoices are paid in two instalments; the final instalment is payable on the 1st of the 10th month after the receipt of the invoice, which could therefore be a payment term of between 245-275 days from receipt of the invoice, depending on when the invoice is received.
N/A
Any disputes on individual invoices should be raised with Vodafone Global Enterprise Limited Accounts Payable who will work with the supplier to resolve the issue: Query in relation to: Invoices Contact point: accounts-payable.vgs@vodafone.com Any contractual disputes are managed through our Commercial Contract Management Processes involving the supplier, Supply Chain Management and Legal. Suppliers should contact Supply Chain Management or the applicable Vodafone Commercial Manager in such cases.
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