SYNAMEDIA LIMITED
Company number: 03080780
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
23 July 2024
Approved by:
MIKE RIDDELL
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 28%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Standard 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
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Suppliers who place an invoice or payment in dispute may contact Synamedia via two methods. In the first instance contact their local Synamedia accounts payable team on a generic local accounts payable email alias address. Alternatively they make such a request directly on the named requestor on the relevant purchase order who in turn will liaise with the accounts payable team, or the procurement function. Currently there is an SLA of 2 (two) business days to respond to all queries received. Once received the case will be reviewed taking into consideration the frequency and value of the current and expected transactions.
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