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PFIZER CONSUMER HEALTHCARE

Company number: 00132018

Reporting period:
1 June 2019 to 30 November 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 23 December 2019

and approved by Ian Franklin

Payment statistics

Average time taken to pay invoices: 73 days

Invoices paid:

• within 30 days: 1%
• in 31 to 60 days: 48%
• in 61 days or more: 51%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

•Qualifying contracts with entities: 60 days or the next payment run thereafter
•No payment terms in majority of qualifying contracts with individuals
•Purchase Order terms and conditions: the later of 60 calendar days and the next processing run immediately thereafter

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Pfizer offers suppliers the opportunity to check the current status of their invoices through an accounts payable portal. Suppliers can view when their invoice is due for payment on this portal. The tool is offered free of charge.
In case a supplier needs to contact Pfizer accounts payable department, an email address is available on every purchase order the supplier receives. Pfizer accounts payable department aims to resolve issues as promptly as possible, on average between 3 to 5 working days.

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.

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.

Yes

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