A.C. NIELSEN COMPANY LIMITED
Company number: 03263498
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
31 July 2018
Approved by:
Luigi Sacchetti
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 43%
- in 31 to 60 days: 42%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 39%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
270 days
Standard payment terms
The most common payment terms are 30 days. The 270 days longest payment terms is to a finance services company who are part of the same group of companies as the supplier. This was introduced following recommendation by the supplier during contract negotiations. It is very much the exception. The business aims to pay all vendors on time. The business have a number of vendors on 'pay immediately' terms. This is not achievable as the minimum bacs payment time is 3 days. The business is working to renegotiate these 'artificial' terms to move them towards the standard 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Vendors can raise disputes by telephone to accounts payable helpline or via email . The dispute will be assessed and directed to the team within our global shared services best placed to provide a resolution. Open disputes are regularly reviewed by the UK Financial Control team along with other AP service metrics to minimise aging of disputes and identify opportunities to improve processes.
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