GOV.UK
INFOR (FARNBOROUGH) LIMITED
Company number: 01599408
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 28 July 2023
and approved by Jane Allsop
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 21%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 25 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
30 days for external suppliers and 60 days for intercompany suppliers. Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period are net 30 days. We record many business-critical payments as zero-day terms in our systems to ensure prompt payment, which increases the percentage of invoices showing as paid outside terms. A number of our royalty/partner invoices are paid only when monies are received from the end user further increasing the % of invoices showing as paid outside terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Excluding intercompany transactions, the company has an average number of days to pay of 21 days, with 100% of external suppliers paid within 60 days.
Any other information about payment terms
N/A
Dispute resolution process
In the first instance complaints should be directed to the Infor employee who placed the purchase order. These can be escalated to our Accounts payable department at the shared service centre in the UK as per your purchase order from Infor.
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