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TAKEDA UK LIMITED

Company number: 03362860

Reporting period:
1 April 2023 to 30 September 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 3 January 2024

and approved by Peter Grubin

Payment statistics

Average time taken to pay invoices: 49 days

Invoices paid:

• within 30 days: 42%
• in 31 to 60 days: 33%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 11 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

90 days

Standard payment terms

recommended 60 days from the date invoice is scanned until the vendor receives payment

Were there any changes to the standard payment terms in the reporting period?

Yes – Standard payment terms at Takeda UK, Ltd. changed from 90 days to 60 days as of September 1, 2023. Changes to vendor payment terms system changes continued through November 30, 2023. As of November 30, 2023, 95% of vendors are setup to pay in 60 days or less.

Were suppliers notified or consulted about these changes before they were made?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

A complaint or concern will be considered by the Solution Hub team via based in Lodz, Poland via tickets in Takeda Solution Portal or with support from Procurement Experience Agents. The team responds as quickly as possible and works with the purchase order owner or legal department depending on the nature of the complaint

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.

Yes – Prompt Payment Code

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