KANTAR PUBLIC UK LIMITED
Company number: 13663077
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
8 March 2024
Approved by:
Craig Watkins
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 38%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 59%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Standard 30 days net for project work with a sub-contractor
60 days net for some non-project operating costs
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
During this period (end of October) we went through our final separation with our old group company (exited trade services agreement) and set up a new ERP system and new offshore finance team. We have suffered quite severe issues both with the system and the new team in relation to accounts payable which has caused issues with processing of invoices in this time, and has resulted in manual payments where necessary and once aware of payment needed. We have enacted a recovery plan to get back to prompt payment, which will see improved payment statistics in the next reporting period. We always aim to pay all our suppliers in a timely manner.
Dispute resolution process
Incorrect invoices dealt with by AP, escalation to finance director
True disputes over delivery of services sent to department lead and handled promptly with supplier
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 Fair 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