NTT UNITED KINGDOM LIMITED

Company number: 01505004

Reporting period:
1 April 2023 to 30 September 2023

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

This report was filed on 30 October 2023

and approved by Steve Brown

Payment statistics

Average time taken to pay invoices: 82 days

Invoices paid:

within 30 days: 14%
in 31 to 60 days: 49%
in 61 days or more: 37%

Invoices due but not paid within agreed terms: 28%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Standard Payment Terms are 45 days + BACS. BACS runs are performed twice a month, ie invoices that are on 45 days are paid on the 5th or the 20th following the 45 days based on the invoice date (unless agreed as the date of receipt of invoice).

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

No further comment provided

Any other information about payment terms

Improvements continue to be made in reducing the payment backlog NTT UK Ltd inherited following a merger. The Company with whom we merged had payment terms and structures there were not aligned to our own. Efforts are ongoing to create greater alignment and drive consistency across the business. Data quality issues following the merger have added an additional challenge with discrepancies, unclear documentation, and higher volumes. Progress has been slow but we are gaining momentum. We continue to prioritise the clean-up and are confident these legacy issues will reduce in the coming months. What is not reflected in the data points is the high volume of intercompany payments. Given on-going validation of aged balances, these intercompany payments do deteriorate the overall payment data pertaining to NTT UK Ltd.

Dispute resolution process

All discrepancies are highlighted back to the Vendor upon receipt of the invoice. Both parties are expected to communicate to bring the query to a satisfactory conclusion. Disputed invoices are reviewed with the Internal Buyers. Invoices in query are held back from the Payment Runs. If the dispute is not resolved within the Contractual Payment Terms this will be reflected in the data provided in this report. The aim is to resolve queries within the Payment Period.

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.

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.

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?