SIEMENS HEALTHCARE LIMITED
Company number: 09567186
Reporting period:
1 October 2019 to 31 March 2020
Report filed on:
27 April 2020
Approved by:
Pere Cercos-Casale
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 40%
- in 61 days or more: 25%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
120 days
Standard payment terms
The terms are assigned by the Business units on a case by case basis:- Payment terms usage is as follows 20% in 60 days (Mostly from document date), 21% in 30 days (Mostly from document date), 12% within 60 days without deduction, 12% within 90 days without deduction, 7% within 30 days without deduction, 11% 60 days net, due first day of the following month, 3% within 90 days from invoice received. The reminder payment terms occurrence around or less than 1% each and range from immediate to 120 days and assigned on case by case basis. Out of total data population, 72% transactional data was relating to Inter-Company which was excluded for this reporting. Inter-Company invoice gets cleared automatically within 1 to 2 days in the month following the receipt of the invoice via Siemens cash pooling facility which is only available to Siemens entities. Please note Intercompany clearing terms are available to Siemens companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens cash pool.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
120 Days is the standard term used for projects with a long term and agreed on a case by case basis . Includes Foreign suppliers with payments in Letters of Credits etc.
Any other information about payment terms
Changes to payment terms were made for specific suppliers after consultation with suppliers. No payments terms were used where early settlement discounts were applied
Dispute resolution process
1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. A) Tel: 0845 602 6873 b) E-mail apsupport-gbandi.in@siemens.com 2) AP liaise with supplier to obtain and process missing invoices a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler) 3) AP liaise with suppliers to confirm payment details (past and upcoming) 4) AP liaise with approvers to release overdue invoices for payment 5) Special team deals with ‘final demand’ cases and legal notices
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, this business has not signed up to a code of conduct or standards on payment practices.
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