SIEMENS MOBILITY LIMITED

Company number: 00016033

Reporting period:
1 April 2023 to 30 September 2023

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This report was filed on 30 October 2023

and approved by Julie Owen

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 30%
• in 61 days or more: 43%

Invoices due but not paid within agreed terms: 30%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

180 days

Standard payment terms

The payment terms are assigned by the Business units on a case by case basis. Payment terms usage:- 3rd party payment terms in use 60 days 36%, 30 days 29%, 90 days 14%, 14 days 4%, 28 days 4%, 45 days 1%, 0 days 1%, 75 days 1%, 180 days 1%. Other less than 1% occurrences include 180 days as the longest term. Transactions on Intercompany payment terms constitute 8% of the transactions and are paid immediately in the month following the month of invoice receipt. Please note Intercompany clearing terms are available to Siemens companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens cash pool. The payment statistics excluding the ICC transactions are as follows:- average time it took to pay an invoice 56 days, split of payments made 0-30 days 21% , 31-60 days 32% , over 61 days 47%. Invoices paid late 32%.

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

180 days

180 days is the standard term used for projects with a long term and agreed on a case by case basis. There are only 2 suppliers this relates to in the period, one of which is HP Inc UK Limited.

Any other information about payment terms

Early settlement discounts are applied as agreed with the suppliers and range from 1% to 3% based upon the timing of payments. During the reporting less than 1% of the overall transactions showed pre-agreed discounts with the suppliers.

Dispute resolution process

1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. A) Tel: 0845 602 6873 b) E-mail apsupport-gbandi.in@siemens.com 2) AP liaise with supplier to obtain and process missing invoices a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler) 3) AP liaise with suppliers to confirm payment details (past and upcoming) 4) AP liaise with approvers to release overdue invoices for payment 5) Special team deals with ‘final demand’ cases and legal notices

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.

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