Published reports

ABCAM LIMITED

Company number: 03509322

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 July 2024 to 31 December 2024

Report filed on:

31 January 2025

Approved by:

Christopher M Bouda


Payment statistics

Average time taken to pay invoices: 77 days

Invoices paid:

  • within 30 days: 31%
  • in 31 to 60 days: 56%
  • in 61 days or more: 13%

Late and disputed:

  • total value of payments due in the reporting period which have not been paid within the agreed period: £0
  • payments due in the reporting period which have not been paid within the agreed period: 66%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

120 days

Standard payment terms

Included in the data are large intercompany suppliers which we have cleared from our system. This has impacted on the “AVERAGE NUMBER OF DAYS FOR MAKING PAYMENT” negatively and if these were not included then we would have been 34 DAYS

Were there any changes to the standard payment terms in the reporting period?

Abcam have begun the process of term negotiation with our suppliers to bring us inline with our new parent company and other opco's during this reporting period, this will be an ongoing process as we work with all current suppliers whilst removing under 30-day term options from newly set up suppliers.

Were suppliers notified or consulted about these changes before they were made?

all suppliers that have had a change of terms were consulted directly and negotiations were on a 121 basis with each, no terms were altered without direct conversation and consultation. This will be our on going approach for any supplier already set up with us with terms already in place, to ensure that we continue to hold good relationships with all our suppliers.

Maximum contractual payment period agreed

120 days

No further comment provided

Any other information about payment terms

No further comment provided

Dispute resolution process

All Procurement and Accounts Payable staff are trained and understand the importance of the timely and complete investigation through to resolution of disputes. Disputes are targeted to be responded to within 48 hours of receipt with either an acknowledgement of receipt or a resolution. Causes for dispute might include, but not limited to the following: · Non-receipt of invoice · Goods not received · Delivered product/service not matching invoice · Insufficient information . Incorrect bill to address or company name . Missing/Incorrect information (purchase order requirements) . VAT requirements . Change of details (i.e. new bank account) To proactively avoid any disputes leading from delays in payments the accounts payable team email all suppliers AR departments directly, confirming any of the above points requesting a corrected invoice to ensure payments are not delayed. All statements received are also reconciled and confirmation of the reconciliation sent back to the supplier so that they are fully aware of all invoice statuses at the point of reconciliation.

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.

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