INFOR (UNITED KINGDOM) LIMITED
Company number: 02766416
Reporting period:
1 July 2021 to
31 December 2021
This report was filed on 3 February 2022
and approved by Jane Allsop
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 17%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 36%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Excluding intercompany transactions, the company has an average number of days to pay of 28 days, with 97% of external suppliers paid within 60 days. In this period historical group charges have been repaid resulting in an overall increase in the average days to pay. Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period are net 30 days. We record many business-critical payments as zero-day terms in our systems to ensure prompt payment, which increases the percentage of invoices showing as paid outside terms. A number of our royalty/partner invoices are paid only when monies are received from the end user further increasing the % of invoices showing as paid outside terms.
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
60 days
60 days – generally for intercompany supplies
Any other information about payment terms
N/A
Dispute resolution process
In the first instance complaints should be directed to the Infor employee who placed the purchase order. These can be escalated to our Accounts payable department at the shared service centre in the UK as per your purchase order from Infor.
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