KAINOS SOFTWARE LIMITED
Company number: NI019370
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
23 October 2019
Approved by:
Richard McCann
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 13%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
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
N/A
Any other information about payment terms
N/A
Dispute resolution process
Kainos Software Limited has a robust purchase order policy, whereby the majority of payments made to suppliers for goods and services have been pre-approved at the purchase order stage. Issues will be identified at this stage, if unresolved the purchase order will not get approved and the supplier will not be engaged for goods and services. The accounts payable team perform a 3-stage matching process between PO, invoice and receipt of goods / services before payment is issued. Payment disputes are therefore very uncommon and resolved readily with reference to the original purchase order.
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.
Yes, this business has signed up to: Central Government - Prompt Payment of Suppliers
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.
Yes
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