DELOITTE LLP
Company number: OC303675
Reporting period:
1 December 2021 to 31 May 2022
Report filed on:
27 June 2022
Approved by:
Donna Ward
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 21%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Full terms and conditions can be found on the website: https://www2.deloitte.com/uk/en/footerlinks1/supplier-standard-terms-conditions.html?icid=bottom_supplier-standard-terms-conditions
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
30 days is standard for all third-party suppliers except two suppliers which have agreed payment terms of 60 days. Approved Interfirm vendors (Deloitte network) invoices are paid within 45 calendar days from the invoice date.
Any other information about payment terms
As a signatory to the Prompt Payment Code and to demonstrate the ongoing commitment to fair and prompt payment we have paid 100% of third-party suppliers within 60 days and 98% within 30 days. Payments to third-party suppliers have been made on average 20 days from receipt of an invoice, with 2% paid outside of agreed payment terms.
Dispute resolution process
The firm has a dedicated Finance Service Desk which is reachable by phone and email. Vendors with invoice queries need to contact this team. The team will be able to advise on the status of the invoice/payment. If the dispute is around incomplete invoices or missing information the accounts payable team will contact the vendor to obtain the missing information. If there is a dispute with the invoice, the finance service desk team along with the accounts payable team will liaise with the Deloitte contact who ordered the goods/services. The Deloitte contact will liaise directly with the vendor to resolve the dispute and inform the accounts payable team of the outcome so they can amend our system and make the payment.
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 Signatory
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