BETA This is a new service – your feedback will help us to improve it.

FRANKLIN TEMPLETON GLOBAL INVESTORS LIMITED

Company number: 02100399

Reporting period:
1 October 2022 to 31 March 2023

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 28 April 2023

and approved by William Jackson

Payment statistics

Average time taken to pay invoices: 27 days

Invoices paid:

• within 30 days: 65%
• in 31 to 60 days: 28%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 57 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

30 days

Standard payment terms

Global AP is committed to paying invoices in the fastest and most efficient fashion possible since the moment of invoice receipt. Submitted invoices are reviewed for accuracy and payment is made when supplier has completely and properly delivered/performed the agreement and when correct invoice is delivered to Accounting Department.

Were there any changes to the standard payment terms in the reporting period?

Yes – Franklin Templeton company changed financial systems on October 1st, 2022 – first day of reporting period. Since then, documents are processed in Coupa system and once reviewed and approved documents are migrated to second system Workday to be paid to suppliers. Business partners were notified about changes in invoice submission, processing, and payment to inform suppliers about possible delays. All urgent and critical were prioritized. Franklin Templeton Customer Service team worked on resolving all issues, providing guidance, and advising business partners on status. The current Q1 – Q2 FY 2023 reporting period was considered as stabilization period due to systems change. Now the process is stabilized, and processing time is back to standard one.

Were suppliers notified or consulted about these changes before they were made?

Yes – The project team contacted suppliers directly or via business partners providing all details.

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

In the event of a dispute with supplier a complaint can be raised to Franklin Templeton Customer Service. This department will send the complaint to the invoice approver within Franklin Templeton responsible for follow up with the supplier to resolve the dispute within a reasonable time.

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.

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.

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