Company number: 06923682
and approved by Robert Bell-Davies
Average time taken to pay invoices: 28 days
Invoices paid:
Invoices due but not paid within agreed terms: 57%
30 days
60 days
Standard payment terms of 30 days are agreed terms between CGG and vendors, invoice is due for payment after 30 days from tax point (inv date)
Answer not provided
N/A
60 days
N/A
N/A
Invoice from vendors are sent via email to AP mailbox - Accounts.PayableUK@cgg.com or by post. AP Accountant then will send inv for approval (PO or non-PO) If there is issue with price, goods not delivered, quantity issue, wrong product delivered, inv will be put on hold. Vendor then should be informed about issue and should raise revised inv and request cancellation of previous one or will raise credit for good or services under queries. AP then process inv less credit and process in ERP system for payment. Another option is to raise full credit for hold invoice and ask for revised - correct one. AP team then process correct inv via ERP and add to weekly batch. Once payment completed, vendor will receive funds and remittance advice
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.
Yes
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
No
No