Company number: 01590333
and approved by Olu Okunola
Average time taken to pay invoices: 108 days
Invoices paid:
Invoices due but not paid within agreed terms: 28%
10 days
150 days
Standard payment terms used by Druck Limited are 120 days. Calculated from the date of receipt of the invoice.
Answer not provided
N/A
150 days
No further comment provided
The 28% reported as invoices due not paid within agreed terms includes 84% in respect of invoices that have been set up in the ledger with zero days payment terms to allow these invoices to be paid on the next available payment run. These invoices therefore distort the reported figure as they are included as not being paid within agreed terms. The terms are set at zero following management’s decision to pay these invoices on the next available payment run. Of the 84% set up with zero days payment terms more than 98% are Intercompany invoices. Removing Intercompany, the external invoices due but not paid within agreed terms is 6%
Disputes are referred to sourcing by staff and Accounts payable. Sourcing engage with the supplier to agree payment terms.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No