Company number: 08802569
and approved by Jean Renton
Average time taken to pay invoices: 26 days
Invoices paid:
Invoices due but not paid within agreed terms: 14%
0 days
60 days
Standard payment terms for vendors across all business segments are 60 days from date of invoice and 30 days for SMEs
Over the reporting period Sodexo has reviewed and validated all remaining vendors and amended payment terms for these vendors to 60 days, This change is aligned to Sodexo’s strategy on embedding a continuous focus on Responsible Payment Culture aligned to the Government guidelines and strategy
N/A
60 days
No further comment provided
A new process is in place for onboarding new suppliers whereby SMEs are identified and put on 30 days payment terms and all other suppliers are on 60 days payment terms
Supplier payment issues that arise in the first instance are addressed by a dedicated Accounts Payable queries team within the Financial Shared Services centre. Depending on the issue, the Procurement team may be involved to resolve any disputes or issues. Sodexo ensures that the payment of its vendors and handling of queries has a high priority and has SLAs on response times. Over the last number of years we have invested in tools and technology to assist our vendor from our Shared Service Centre with OCR and supply management by providing alternative finance and ease of payment solutions.
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.
Yes
No
No