Company number: 00119006
and approved by Jason Brooks
Average time taken to pay invoices: 43 days
Invoices paid:
Invoices due but not paid within agreed terms: 44%
60 days
Answer not provided
Standard payment terms are 60 days following the invoice receipt at Novartis. Depending on the commercial situation, variations to these standard terms may be negotiated on some occasions.
Answer not provided
N/A
90 days
Not applicable.
N/A
First point of contact for disputes or concerns is the Requisition-to-Payment team within the Novartis Global Services Centre, for which all suppliers have contact details of. In addition to that, new suppliers receive an on-boarding pack, which includes information on issue raising and related points of contact. When an invoice dispute is received, it should be resolved at point of contact with the Requisition-to-Payment team. If this is not possible, the query will be escalated to the business contact and relevant senior finance contact if necessary. Timelines of escalation vary, depending on the nature of the query. When resolved, the invoice will be available for payment on the next standard payment run.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No