The data shows that the average time taken for FINANCIAL TIMES (ASC) LIMITED to pay invoices to suppliers has remained consistent over the past three periods, with no major changes observed.
The volatility of the company's payment time has been low, as there have been no significant fluctuations in the percentage of invoices paid within 30 days and between 31 and 60 days over the past three periods.
Over the past three periods (2019-2021), FINANCIAL TIMES (ASC) LIMITED has been consistent in paying invoices to suppliers, with an average time taken of 0 days. The company has also maintained a high percentage of invoices paid within 30 days, with no instances of invoices not being paid within agreed terms.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 02 Feb 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 09 Aug 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 0 | 0% | 0% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 20 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 20 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 04 Aug 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 20 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 29 Jul 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 01 Aug 2018 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The most common supplier payment terms are: • Net 30 – All vendors • Immediate – Vendors The maximum payment period agreed to in July-December 2021 is 30 days. Payment terms depends largely on agreements with respective suppliers. Should the agreement be silent, the default payment term of 30 applies. There have been no changes to standard payment terms in the reporting period.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
The business contact is responsible for confirming that the good / service delivered is of the required quality before payment is actioned. Invoice disputes are addressed with the suppliers directly by the business contact. Invoices under dispute can be processed within Oracle ebusiness suite and placed on hold. Approval and payment may take some time as dependent on the resolution of the dispute. Suppliers can contact the Global Accounts Payable team via its group mailbox accounts.payable@ft.com. An Accounts Payable Analyst would be available to answer supplier queries 22 x 5. The Global Accounts Payable team ensures that authorizers are regularly chased to approve invoices in their approval queues and any long outstanding invoices not approved within reasonable timeframes will be queried, thereby, identifying any disputed invoice. We recommend suppliers to send their invoices directly to email address accounts.payable@ft.com to be lodged within our Oracle system and to commence tracking through to settlement
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
FINANCIAL TIMES (ASC) LIMITED is a financial and business news organization based in London, United Kingdom. The company is known for its daily newspaper, the Financial Times, which provides comprehensive coverage of global business and economic news.
In addition to its newspaper, FINANCIAL TIMES (ASC) LIMITED offers a range of digital and print products and services, including a website, mobile apps, and various newsletters and magazines. These products and services provide in-depth analysis, data, and insights to help businesses and individuals make informed decisions in the ever-changing world of finance and business.
The company is committed to promoting sustainability and has implemented a number of initiatives to reduce its environmental impact. This includes using sustainable paper for its newspaper, reducing its carbon footprint through energy efficiency measures, and promoting recycling and waste reduction.
The key people at FINANCIAL TIMES (ASC) LIMITED include CEO John Ridding and Editor Lionel Barber, both of whom have extensive experience in the media industry.
The company's website address is www.ft.com and their registered office address is 1 Southwark Bridge, London SE1 9HL, United Kingdom. Overall, FINANCIAL TIMES (ASC) LIMITED is a leading source of financial and business news, with a strong commitment to sustainability and providing valuable products and services to its audience.