GP STRATEGIES LIMITED

Company number: 08003789

Reporting period:
1 January 2023 to 30 June 2023

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

This report was filed on 26 July 2023

and approved by James Moran

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

within 30 days: 15%
in 31 to 60 days: 71%
in 61 days or more: 14%

Invoices due but not paid within agreed terms: 53%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

Answer not provided

Standard payment terms

45 days

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

The Company is committed to dealing with suppliers in a fair manner. Complaints should be raised to the Accounts Payable department at ukap@gpstrategies.com. The first point of escalation is the Accounts Payable Manager followed by the Operations Team Lead responsible for the purchase. If the dispute cannot be resolved it will be escalated to the relevant UK Director.

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?