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AON HEWITT LIMITED

Company number: 04396810

Reporting period:
1 July 2019 to 31 December 2019


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

This report was filed on 23 January 2020

and approved by David Hardern

Payment statistics

Average time taken to pay invoices: 48 days

Invoices paid:

Invoices due but not paid within agreed terms: 39 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

Standard payment term is 45 days from invoice date. This period reflects the normal course of dealing, unless the Company enter into formal written terms for supplies from group companies.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

Effective 1st January 2019, Aon’s Enterprise Financial Management platform migrated, and this move led to weekly payment runs. This led to many suppliers being paid a few days after the due date and resulted in an increase in the number of suppliers who were paid late January-August 2019. The payment runs frequency has been changed to daily in September 2019.

Dispute resolution process

Helpdesks and contact details as well as process information available on http://www.aon.com/about-aon/supplier-information.jsp

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.

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