SPORTS INFORMATION SERVICES LIMITED
Company number: 04243307
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
31 October 2018
Approved by:
Nigel Stocks
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 46%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 53%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Our Terms & Conditions state that our standard payment terms are end of the month following the month in which the invoice is dated. However, we pay to 30 days from invoice date, therefore meaning a number of suppliers are paid earlier than terms. This is subject to a timely receipt of the invoice. Variations on these terms do exist based on certain agreements with specific suppliers.
The data we have provided includes invoices that have been paid late, either due to us receiving these invoices late from our suppliers or invoices that are in query. As a business we will always try and pay to our agreed supplier payment terms, but unfortunately the company only has two standard payments each month, one mid-month and one on the last working day. This can invariably result in some of our payments being paid late.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Queries from suppliers are acknowledged within 24 hours of receipt by our Accounts Payable team. AP work with both the supplier and the invoice approver to ensure queries are rectified as quickly as possible. In the event that a query cannot be resolved by the AP team and the invoice approver, it would be escalated to the relevant Head of Department to assist.
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