GOV.UK
SIEMENS MOBILITY LIMITED
Company number: 00016033
Reporting period:
1 October 2020
to 31 March 2021
This report was filed on 29 April 2021
and approved by Julie Owen
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 31%
- in 61 days or more: 40%
Invoices due but not paid within agreed terms: 24 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
180 days
Standard payment terms
The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage :-
3rd party payment terms in use 60 days 40%, 30 days 23%, 90 days 11%, 96 days 8%, 14 days 4%, 28 days 4%, 45 days 2%, 0 days 1% .Other less than 1% occurences inlcude 180 days as the longest term.
Transactions on Intercompany payment terms constitue 6% of the transactions and are paid immediatly in the month folowing the month of invoice reciept. 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.
The payment statistics excluding the ICC transactions are as follows :- Average time it took to pay an invoice 53 days. Split of payments made 0-30 days 25% , 31-60 days 33% , over 61 days 42%. Invoices paid late 25%.
Payment run adjusted to sweep forward improving % of payments made within terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
The 180 payment term was used for one supplier only with a small number of low value payments (12 in total for a value of £4k).
Any other information about payment terms
Early settlement discounts are applied as agreed with the suppliers and range from 1% to 3% based upon the timing of payments. During the reporting less than 1% of the overall transactions showed pre-agreed discounts with the suppliers.
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
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