SOFTCAT PLC
Company number: 02174990
Reporting period:
1 August 2022
to 31 January 2023
This report was filed on 28 February 2023
and approved by Graham Charlton
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 53%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
90 days
Standard payment terms
The Company has standard payment terms of 30 days but has negotiated standard payment terms of between 14 and 90 days.
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
86% of overdue invoices were settled within 1 month of the due date in this reporting period.
Dispute resolution process
Softcat's accounts payable team offer support through to query resolution to all suppliers. The team can be contacted by email, letter or telephone and each supplier has a dedicated representative for their account.
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
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