GOV.UK
DAISY COMMUNICATIONS LTD.
Company number: 04145329
Reporting period:
1 October 2018
to 31 March 2019
This report was filed on 2 May 2019
and approved by Stuart Morten
Payment statistics
Average time taken to pay invoices: 64 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 33%
- in 61 days or more: 18%
Invoices due but not paid within agreed terms: 75 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
The Company’s standard contractual payment terms for all qualifying contracts are 60 days after end of month in which invoice dated, however, specific terms can be negotiated and agreed with a supplier. The agreed payment terms are reflected in our contractual documentation and accounting system.
There were no changes to standard payment terms in the reporting period.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
90 day payment terms only apply to certain telecoms charges with specific large suppliers
Any other information about payment terms
Invoices paid late percentage reduces to 54% taking account of payments paid on the next payment run following due date, which is a maximum of 15 days on a bi-monthly payment cycle. Although the standard payment terms are 60 days end of month, the company has a high proportion of terms based on invoice date, meaning it is impractical to strictly meet payment terms given the frequency of payments this would require. There are number of other reasons why remaining payments could be delayed including for example suppliers sending invoices late, internal approvals, suppliers quoting invalid purchase order numbers, and disputes.
Dispute resolution process
Supplier invoices are processed and passed to business approvers who can approve or reject an invoice. In the event of a dispute, it is logged with the supplier via email or on their portal wherever applicable. The supplier and the relevant Daisy authorised person work towards dispute resolution. If the dispute is ruled in favour of Daisy, a credit note may be issued by the supplier. In case the dispute remains unresolved within a reasonable period, the supplier can contact the relevant Daisy business contact or a member of the Group Procurement team.
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