FUJITSU SERVICES LIMITED
Company number: 00096056
Reporting period:
1 October 2019 to 31 March 2020
Report filed on:
23 April 2020
Approved by:
Anthony Pipe
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 61%
- in 61 days or more: 10%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
SME’s are all on 30 day payment terms. Our standard approach is 30 days for new suppliers, but there is the option for up to 60 days depending on commercial negotiations with large suppliers and basis of invoicing (for example if invoicing is in advance) There are still a very small number of large suppliers on 90 day terms.
Were there any changes to the standard payment terms in the reporting period?
Further checks have been made to ensure all SMEs are on 30 day terms Our standard approach is 30 days for new suppliers, but there is the option for up to 60 days depending on commercial negotiations with large suppliers and basis of invoicing (for example if invoicing is in advance). Previously our standard was 60 days for non SMEs, with the changes from this subject to approval. Most of our other Supplier payment terms have been reduced to 30, 45 or 60 days. Only a few are left on 90 days and relate to major suppliers where we have detailed commercial agreements.
Were suppliers notified or consulted about these changes before they were made?
Our Procurement team spoke and agreed with non SME Suppliers in advance of us making any changes. The majority of SME’s were notified once we had reduced the payment terms due to the volume of suppliers involved.
Maximum contractual payment period agreed
90 days
90 day terms are now only in place for a few Suppliers where the value is high but the volume is low and would affect our cash flow. e.g SAP
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices should arrive at Fujitsu quoting a fully valid Purchase Order (PO) number. If there are any discrepancies, the supplier is notified either by our Accounts Payable department and/or the PO owner. Where a PO does not exist, the invoice is rejected back to the supplier.
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: Promt Payment Code
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.
No
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