XEROX LIMITED

Company number: 00575914

Reporting period:
1 June 2022 to 31 December 2022

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This report was filed on 30 January 2023

and approved by Caroline Shephard

Payment statistics

Average time taken to pay invoices: 63 days

Invoices paid:

• within 30 days: 17%
• in 31 to 60 days: 30%
• in 61 days or more: 54%

Invoices due but not paid within agreed terms: 65%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

75 days

Standard payment terms

Xerox releases payment of invoices on or before the third (3rd) business day of the month following the sixtieth (60th) calendar day after the supplier's correct invoice.

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

120 days

Xerox endeavors to process all payments of invoices from all suppliers by their due date.

Any other information about payment terms

Xerox endeavors to process all payments of invoices from all suppliers by their due date. Reasons for Xerox not being able to pay based on agreed terms include; receiving late or non-compliant invoices, invoices that are in dispute and our practices to consolidate payments into batches of an efficient size on a weekly payment run or monthly-preferred terms. Xerox also continues to promote its mature Procurement Card program which was established to ensure an efficient and timely payment process for suppliers and this program is now reflected in this report.

Dispute resolution process

At Xerox, we aim to resolve disputes or queries regarding invoices and payment as quickly as possible. Should a supplier have an invoice query they can contact Xerox accounts payable. If Xerox Accounts Payable team is not able to resolve the query, they will escalate the issue. The accounts payable team will communicate with the internal business contacts or Procurement to investigate why the invoice has not been approved for payment, and work to resolution.

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.

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