ALPHABET (GB) LIMITED

Company number: 03282075

Reporting period:
1 July 2023 to 31 December 2023

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This report was filed on 31 January 2024

and approved by Ursula Wingfield

Payment statistics

Average time taken to pay invoices: 18 days

Invoices paid:

• within 30 days: 86%
• in 31 to 60 days: 12%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

30 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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Alphabet (GB) Limited has a dedicated accounts payable team that offers support and advice to our suppliers on payment practices. They work in close collaboration with other key stakeholders in the Alphabet business and around BMW Group UK who are involved with the supplier payment process, such as our Supplier Relationship Management Team. Our accounts payable team can be contacted between 8.30am and 5.15pm either by telephone or email. A member of the team takes responsibility for the investigation, co-ordination and resolution for each case and to ensure that all parties are kept up to date with the progress of the query. In addition, Alphabet provide an online remittance service which enables suppliers to self-service and view their payments from Alphabet online. This system is updated via an overnight process so all payments are visible within 24 hours of payment. Alphabet (GB) Limited is part of BMW Group UK and is authorised and regulated by the Financial Conduct Authority.

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.

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