Company number: 01451007
and approved by Richard Monro
Average time taken to pay invoices: 53 days
Invoices paid:
Invoices due but not paid within agreed terms: 77%
0 days
60 days
Our standard payment terms are 60 days end of month from the supplier invoice date. On average it takes two days from invoice receipt for the invoice to be posted to our ledger. We perform weekly payment runs.
Answer not provided
N/A
60 days
No further comment provided
Whilst 77% of invoices appear not to be paid within the agreed terms, we have a proportion of suppliers set to immediate payment terms, which will always, in effect, be paid late due to weekly payment runs. We are currently going through a process to review this.
We aim to resolve all disputes promptly and will normally do so by raising an abeyance note (request for credit note) to the supplier detailing the query, followed by contacting suppliers directly. Invoice queries for our SIGD business are generated by our branches. Invoice queries for our SIGE business are generated by our Accounts Payable Shared Service Centre (SSC) in Sheffield. Any disputes for over payments are also directed to our Accounts Payable SSC department.
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.
No
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