TILLERY VALLEY FOODS LIMITED
Company number: 02065462
Reporting period:
1 March 2020 to
31 August 2020
This report was filed on 30 September 2020
and approved by Jean Renton
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 16%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 11%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Standard Sodexo Ltd payment terms for vendors across all business segments are 60 days from date of invoice and 30 days for SMEs
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
A process is in place for onboarding new suppliers whereby SMEs are identified and put on 30 days payment terms and all other suppliers are on 60 days payment terms
Dispute resolution process
Supplier payment issues that arise in the first instance are addressed by a dedicated Accounts Payable queries team within the Financial Shared Services centre. Depending on the issue, the Procurement team may be involved to resolve any disputes or issues. Sodexo ensures that the payment of its vendors and handling of queries has a high priority and has SLAs on response times. Over the last number of years we have invested in tools and technology to assist our vendor from our Shared Service Centre with OCR and supply management by providing alternative finance and ease of payment solutions.
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No