Company number: 00016033
and approved by Julie Owen
Average time taken to pay invoices: 54 days
Invoices paid:
Invoices due but not paid within agreed terms: 25%
60 days
96 days
The payment terms are assigned by the Business units on a case by case basis. Payment terms usage for 3rd party payments, terms in use are 60 days 38%, 30 days 22%, 90 days 16%, 28 days 4%, 14 days 3%, 0 days 2%, 96 days 1%, other less than 1%.
Answer not provided
N/A
96 days
A reduction in usage of longer payment terms that were only used with a small number of large suppliers.
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.
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
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.
Yes
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
No
No