DEMATIC LIMITED
Company number: 05856366
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
29 January 2021
Approved by:
Andy Blandford
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 58%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Standard terms for resale is now 60 days. Indirect suppliers remain 30 days or 30 days end of month.
Were there any changes to the standard payment terms in the reporting period?
Standard payment terms changed from 30 days end of month to 60 days from invoice date for resale suppliers.
Were suppliers notified or consulted about these changes before they were made?
The Procurement Department managed the communication to Suppliers. Suppliers were formally written to and this was followed up by an email and phone call to discuss and obtain their acceptance.
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
1. We utilise the services of a document management company to scan and index vendor invoices before being imported into our ERP. They also check quality and validate invoices against our open PO and vendor files to ensure vendors correctly email documents to avoid delays 2. We have a dispute resolution workflow tool within the ERP linking the whole business. It involves automate workflows for goods receipt, service approval, accounting information & tax queries. There are handling codes to denote reasons for query and KPI's to encourage timely responses to allow payments be made to terms.
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.
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.
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.
No
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