GOV.UK
NTT UNITED KINGDOM LIMITED
Company number: 01505004
Reporting period:
1 April 2023
to 30 September 2023
This report was filed on 30 October 2023
and approved by Steve Brown
Payment statistics
Average time taken to pay invoices: 82 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 49%
- in 61 days or more: 37%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Standard Payment Terms are 45 days + BACS. BACS runs are performed twice a month, ie
invoices that are on 45 days are paid on the 5th or the 20th following the 45 days based on the
invoice date (unless agreed as the date of receipt of invoice).
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
Improvements continue to be made in reducing the payment backlog NTT UK Ltd inherited following a merger. The Company with whom we merged had payment terms and structures there were not aligned to our own. Efforts are ongoing to create greater alignment and drive consistency across the business. Data quality issues following the merger have added an additional challenge with discrepancies, unclear documentation, and higher volumes. Progress has been slow but we are gaining momentum. We continue to prioritise the clean-up and are confident these legacy issues will reduce in the coming months. What is not reflected in the data points is the high volume of intercompany payments. Given on-going validation of aged balances, these intercompany payments do deteriorate the overall payment data pertaining to NTT UK Ltd.
Dispute resolution process
All discrepancies are highlighted back to the Vendor upon receipt of the invoice. Both parties are
expected to communicate to bring the query to a satisfactory conclusion. Disputed invoices are
reviewed with the Internal Buyers. Invoices in query are held back from the Payment Runs. If the
dispute is not resolved within the Contractual Payment Terms this will be reflected in the data
provided in this report. The aim is to resolve queries within the Payment Period.
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