FUJITSU SERVICES LIMITED
Company number: 00096056
Reporting period:
1 October 2020 to 31 March 2021
Report filed on:
30 April 2021
Approved by:
Anthony Pipe
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 57%
- in 61 days or more: 5%
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: 14%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
30 days for all SME’s and that is still our standard approach for new Suppliers. Our standard terms are 30 days, by exception we may negotiate up to 60 days with some large suppliers.
Were there any changes to the standard payment terms in the reporting period?
Suppliers on 90 day terms have been reduced to 30 days or 60 days maximum depending on the Supplier. This was done late in the reporting period so the full effect will not be seen until the next reporting period.
Were suppliers notified or consulted about these changes before they were made?
When necessary our Procurement team spoke and agreed with Suppliers in advance of us making any changes. Our current changes are to move suppliers to improved payment terms in line with the code.
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
We have continued to increase the use of Purchasing Cards for low value, high volume invoices to improve efficiency and payment on time. Procurement is speaking to Suppliers to encourage more Suppliers to agree to this approach. We continue to concentrate on improving our payments paid on time towards a target of 95%
Dispute resolution process
Invoices should arrive at Fujitsu, ideally electronically, quoting a fully valid Purchase Order (PO) number. If there are any discrepancies, the Supplier is notified either by Accounts Payable department and / or the PO owner.
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: Prompt 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.
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