SGS BUSINESS PROCESS SERVICES (UK) LIMITED
Company number: 03851175
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
31 July 2019
Approved by:
Stuart Russell
Payment statistics
Average time taken to pay invoices: 80 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 14%
- in 61 days or more: 71%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 79%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
The most common type of supplier is for vehicle repair work where, prior to the current reporting period, each supplier had both 30 and 60 day terms, the terms used for each invoice being determined by the specific characteristics of the relevant customer's case. The most commonly used payment terms were 60 days from date of receipt of a correctly submitted invoice. In the current reporting period the business has started to work with a new Repairs supplier, who acts as an agent for a number of repairers, and with whom agreed terms are 90 days. This explains the increase in the proportion of invoices paid in 61+ days which is reported above.
Were there any changes to the standard payment terms in the reporting period?
In the current reporting period the business has started to work with a new Repairs supplier, who acts as an agent for a number of repairers, and with whom agreed terms are 90 days. This explains the increase in the proportion of invoices paid in 61+ days which is reported above.
Were suppliers notified or consulted about these changes before they were made?
This was done verbally
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes can be raised through either the Expense Team or the supplier’s Relationship Manager who will pass these through to the Expense Team for investigation and resolution. In the event that a dispute cannot be resolved by our Expense Team, it would escalate to the Expense Team Manager and Financial Controller in turn.
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?
Yes
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
Yes