Company number: 13352340
and approved by Karen Beadle
Average time taken to pay invoices: 46 days
Invoices paid:
Invoices due but not paid within agreed terms: 31%
0 days
120 days
PFM UK has over 20 payment terms in use. The most common being equivalent to 90 days from date of invoice.
Changes were made based on the outcome of supplier negotiations. During this reporting period there were no unilateral changes to payment terms.
Each PO issued to and accepted by Supplier will state the applicable payment term. Where a new term may be desired suppliers are sent written communication regarding agreement to a new term.
120 days
No further comment provided
Payment terms are negotiated with each supplier and a wide range of terms are available for use. The terms used have been agreed to by suppliers and there is a strong commitment to meet these terms.
Where possible PFM UK match all invoices automatically through a three way match process, any issue arising for a failure to match is assigned back to the ordering site electronically for correction and controlled through electronic workflows. If issues are not resolved through this internal process then buyer will contact supplier and agree resolution.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No