XYLEM WATER SOLUTIONS UK LTD
Company number: 00479504
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
31 August 2018
Approved by:
Duncan Lewis
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 38%
- in 61 days or more: 17%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 64%
Payment terms
Shortest standard payment periods
15 days
Longest standard payment period
90 days
Standard payment terms
o EOM 15 o EOM 45 o NET 60 o EOM 75 (preferred) o NET 90
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
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The company has a dedicated Finance Service Desk which is reachable by phone and email. Vendors with invoice queries need to contact this team and if the service desk team is not able to resolve they escalate the issue to the accounts payable team. The accounts payable team will reach out to the invoice contact if not clear from the system why the invoice has not been approved for 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.
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.
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