SOUTHERN WATER SERVICES LIMITED
Company number: 02366670
Reporting period:
1 October 2021 to 31 March 2022
Report filed on:
26 April 2022
Approved by:
Sebastiaan Boelen
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 76%
- in 31 to 60 days: 22%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 7%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
Southern terms. However, as part of the regulated negotiated procurement process we will consider the commercial benefit of negotiating shorter payment terms. In addition, as part of our approach to Corporate and Social responsibility we will consider the application of 30 day payment terms for appropriate Small and Medium Enterprises.Water policy is to establish any new contractual arrangement on the basis of 60 day payment
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
-
Any other information about payment terms
Southern Water operates a range of payment mechanisms including direct debit, Purchasing Cards and BACS.
Our core system is SAP and we have a three-way match between the purchase order, goods receipt and invoice details. In order to avoid delays in payment Southern Water requests suppliers to:
• Ensure that they have a valid and current purchase order number
• Send all documents and credit notes by email to SouthernWater@DOL.co.uk in PDF format. If sending more than one invoice in the same email, please provide a separate file attachment for each document
• Only submitting them when goods or services have been delivered
• Not split invoices against multiple purchase orders
If suppliers are unable to utilise email, invoices and credit notes should be sent direct to Accounts Payable, Southern Water, Southern House, Yeoman Road, Worthing BN13 3NX.
Dispute resolution process
At Southern Water our aim is to resolve invoice queries or disputes in a timely manner and ensure payments are made at the earliest opportunity. All queries should be addressed in the first instance to accountspayableBPS@southernwater.co.uk
If the issue cannot be resolved by the accounts payable team, then the matter will be directed to the Purchase Order owner for resolution. Upon resolution of any queries or disputes if the invoice has become due it will be settled on the next payment run.
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