Published reports

SIEMENS ENERGY LIMITED

Company number: 00631825

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

Reporting period:

1 April 2021 to 30 September 2021

Report filed on:

26 October 2021

Approved by:

Michael Gray

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

within 30 days: 29%
in 31 to 60 days: 25%
in 61 days or more: 46%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 27%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

180 days

Standard payment terms

The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage : 12% of the transactions are on Intercompany Clearing payment terms and are paid immediately in the month following the receipt of the invoice. Please note Intercompany clearing terms are available to Siemens companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens cash pool. 3rd party payments terms usage is as follows 30 days 16%, 60 days 47%, 90 days 15%, 96 days 1%, 45 days 3%, 14 days 1%,0 days 2%, 7 Days 1%, 28 Days 1%, 120 Days 1% and the remainder with payment terms of less than 1 % occurrences.

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

Longest standard payment period increased from 120 to 180 days.

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

N/A

Maximum contractual payment period agreed

180 days

No further comment provided

Any other information about payment terms

Early settlement discounts are applied as agreed with the suppliers and range from 1% to 3% based upon the timing of payments. During the reporting less than 1% of the overall transactions showed pre-agreed discounts with the suppliers.

Dispute resolution process

1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. A) Tel: 0845 602 6873 b) E-mail apsupport-gbandi.in@siemens.com 2) AP liaise with supplier to obtain and process missing invoices a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler) 3) AP liaise with suppliers to confirm payment details (past and upcoming) 4) AP liaise with approvers to release overdue invoices for payment 5) Special team deals with ‘final demand’ cases and legal notices

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.

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?