REUTERS NEWS & MEDIA LIMITED

Company number: 02505735

Reporting period:
1 January 2023 to 30 June 2023

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This report was filed on 26 July 2023

and approved by Matthew Keen

Payment statistics

Average time taken to pay invoices: 26 days

Invoices paid:

• within 30 days: 58%
• in 31 to 60 days: 36%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 1%

Payment terms

Shortest standard payment periods

50 days

Longest standard payment period

Answer not provided

Standard payment terms

Standard Payment terms are 50 days as per Thomson Reuters Purchasing policy. Most common payment terms that set up with the vendors as 0 days, 30 days and 50 days with the suppliers as per the contractual agreements during the reporting period. Average time taken to pay an invoice is 26 days.

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

70 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

There is a dedicated P2P Helpdesk team that the vendors can reach out to with regards to their queries related to invoice/payment status or any other Accounts Payable related queries. The queries can be submitted through a supplier portal link and the supplier be notified with an auto response containing the ticket number for tracking purposes. The queries are responded to within 24-48 hours’ time frame & resolution is provided as agreed with the supplier. For further details, please visit the Thomson Reuters Supplier Portal https://www.thomsonreuters.com/en/resources/global-sourcing-procurement.html

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