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Company number: 07195160

Reporting period:
1 January 2020 to 30 June 2020

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

This report was filed on 18 November 2020

and approved by James Yu

Payment statistics

Average time taken to pay invoices: 46 days

Invoices paid:

Invoices due but not paid within agreed terms: 6 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Within Cognizant’s CAPPS system, payment terms are
established for each supplier. Invoices processed by Accounts Payable will reflect those terms and the payment due date will automatically be calculated by the system if the invoice matches to the order placed. Accounts Payable does not designate a payment date as this is entirely system-driven. For example, a supplier invoice dated July 1, 2014 is received by
Accounts Payable on July 9 and is entered into the CAPPS system on July 10. If the payment terms are "Net 30," the system will automatically calculate a payment due date of August 8, 2014 for all accepted and undisputed transactions. Otherwise the invoice will be rejected and parked for clarification and the due date for payment will start from the date of invoice rectified, or from the date of receipt of a revised
and acceptable invoice by Accounts Payable.

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

Yes – Yes – In the process of moving to 60 days payment term for European vendors where applicable.

Were suppliers notified or consulted about these changes before they were made?

Yes – Yes – We reached out to our vendors by e-mail or letter informing them about the initiative. In case of non acceptance - discussions are being held to reach an agreement.

Maximum contractual payment period agreed

90 days

90 day payment terms are utilized for vendors not linked to UK Public Sector contracts.

Any other information about payment terms


Dispute resolution process

Person responsible for ordering the goods or services will
review the invoice and address any disputed directly with the supplier. Depending on outcome, supplier will either issue a (full or partial) Credit Note or invoice will get paid as is.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?