BETA This is a new service – your feedback will help us to improve it.

SIEMENS HEALTHCARE LIMITED

Company number: 09567186

Reporting period:
1 April 2021 to 30 September 2021

---

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

This report was filed on 28 October 2021

and approved by Eric Kreuzer

Payment statistics

Average time taken to pay invoices: 50 days

Invoices paid:

• within 30 days: 30%
• in 31 to 60 days: 44%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 31 %

Payment terms

Shortest standard payment period

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 3rd Party payment terms 60 days 42%,30 days 29%,90 days 17%,45 days 3%,96 days 3%,40 days 1% and remainder are terms with less than 1% occurrence which includes 120 days.

Out of total data population, 71% 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?

No

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

During the period changes were made to payment terms 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

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