TEMENOS UK LIMITED
Company number: 01972767
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
25 July 2022
Approved by:
Nicholas Michael
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 39%
- in 61 days or more: 7%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
This is based on the agreement between Temenos & supplier and the term is printed in every PO copy that is released to the supplier.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The main point of contact for disputes is the Shared Services Centre in Chennai. When an invoice is disputed, the supplier will receive an automated email indicating the invoice number and reason for rejection. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. Temenos follows a no PO no pay policy. The PO number is communicated by Temenos' procurement team at the time of placing the order.
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, 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.
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