GOV.UK
RACKSPACE LIMITED
Company number: 03897010
Reporting period:
1 July 2022
to 31 December 2022
This report was filed on 19 January 2023
and approved by Aimee Marroquin
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 33%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 41 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are 60 days which we use with most of our suppliers.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
All Accounts Payable related queries, disputes, complaints will arrive within the team typically via two methods - direct telephone calls or into a dedicated shared mailbox. This mailbox is monitored on a daily basis with a view of intercepting incoming mail in the quickest time possible. Emailed queries will see an automatic response being sent out to the sender confirming an expected response time of 48hrs.
The team is divided up into individual areas of ownership based on internal vendor classification (alphabetical, critical and non critical). This allows for a dedicated point of contact being available to our vendors. Each AP Specialist is responsible for handling their individual workload and can typically handle the large majority of incoming queries. Should there be a need, escalation points are in place to ensure more intricate issues are given the attention needed. Level 3 AP specialists are the first point of escalation and if needed can then go up as far as the AP Manager to resolve.
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.Yes – 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