Company number: 01556886
and approved by Chris Bryan
Average time taken to pay invoices: 85 days
Invoices paid:
Invoices due but not paid within agreed terms: 40%
0 days
90 days
Standard payment terms are 60 days from the date of the invoice. We do have vendors set up with shorter or in a few cases with longer payment terms. The 90 days payment terms should no longer be used and vendors with this payment terms will be reviewed. (90 days was used by Sanofi, our systems were migrated from Sanofi and some of our vendor master data is to be cleansed and updated as part of a project in 2023.)
Answer not provided
N/A
60 days
No further comment provided
Intercompany invoices and vendors paid by direct debit have been reported separately from third party vendors. However they are included in overall performance. Intercompany are generally wholly owned group companies and do distort performance (detrimentally) as more emphasis and monitoring is put on payment to third parties.
In the first instance disputes will be received by our Purchase to Pay contact centre at the defined email address or telephone number printed on every Purchase Order. Queries will then be forwarded to the requester of the services/goods for information and evaluation. Failure to meet resolution will be escalated to the local Finance team and/or global P2P team and include the specific Buyer for the service/goods that is responsible for the vendor relationship.
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