FUJITSU SERVICES LIMITED
Company number: 00096056
Reporting period:
1 April 2022 to 30 September 2022
Report filed on:
31 October 2022
Approved by:
Stuart Fenn
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 60%
- in 61 days or more: 17%
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: 31%
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?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
We use 60 days for our Suppliers for Contractors as this is our largest volume of invoices. A small amount of other large value Suppliers are also on 60 days where this impacts our cashflow.
Any other information about payment terms
The introduction of a new ERP system has heavily impacted our Purchase to Pay process severely impacting our payment turnaround. Problems have been incurred getting used to a new system which requires many more fields to complete on a purchase and is inherently more time consuming to process. This has caused a decline on all metrics, however performance is improving over the later months of the period as we have implemented measures to correct our payment processing. Actions: • Additional resources internal and external allocated to the AP function. • Introduction of daily payment runs rather than 3 a week • SME suppliers prioritised for payment
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 the 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