TEMENOS UK LIMITED
Company number: 01972767
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
18 July 2024
Approved by:
Nicholas Michael
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 15%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Between 30 - 60 days
terms
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
No further comment provided
Dispute resolution process
The main point of
contact for disputes is
the Shared Services
Centre in Chennai.
When an invoice is
disputed, the supplier
will receive an
automated email
indicating the invoice
number and reason for
rejection. To resolve a
dispute, the supplier is
required to provide any
missing information or
a corrected invoice.
Temenos follows a no
PO no pay policy. The
PO number is
communicated by Temenos' procurement
team at the time of
placing the order.
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.
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.
Yes
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