Score of 80/100 qualifies for PaymentCheck Certification
The average time taken for PITNEY BOWES FINANCE LIMITED to pay invoices to suppliers has fluctuated over the past three periods, with a slight increase in the most recent period. The percentage of invoices paid within 30 days has also fluctuated, with a significant decrease in the most recent period. The percentage of invoices paid between 31 and 60 days has increased in the most recent period, while the percentage of invoices paid later than 60 days has remained consistently low. The percentage of invoices not paid within agreed terms has also fluctuated, with a significant increase in the most recent period.
The volatility of PITNEY BOWES FINANCE LIMITED's payment process can be seen in the fluctuations in the average time taken to pay invoices, the percentage of invoices paid within 30 days, and the percentage of invoices not paid within agreed terms. These fluctuations suggest that the company's payment processes may not be consistent or efficient.
| 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 Jan 2023 - 31 Jan 2023 | 03 Aug 2023 | 4 | 100% | 0% | 0% | 100% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 22 | 75% | 26% | 0% | 96% |
| 01 Jan 2022 - 30 Jun 2022 | 07 Jul 2022 | 26 | 68% | 29% | 3% | 97% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 24 | 78% | 22% | 0% | 73% |
| 01 Jan 2021 - 30 Jun 2021 | 20 Jul 2021 | 27 | 75% | 19% | 6% | 92% |
| 01 Jul 2020 - 31 Dec 2020 | 01 Mar 2021 | 28 | 56% | 44% | 0% | 97% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 26 | 57% | 43% | 0% | 100% |
| 01 Jul 2019 - 31 Dec 2019 | 08 Apr 2020 | 16 | 85% | 15% | 0% | 98% |
| 01 Jan 2019 - 30 Jun 2019 | 18 Jul 2019 | 23 | 88% | 8% | 3% | 67% |
| 01 Jul 2018 - 31 Dec 2018 | 18 Jan 2019 | 14 | 94% | 6% | 0% | 32% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 22 | 80% | 18% | 2% | 33% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days from invoice
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
60
We have a multi-lingual helpdesk with a 48 TAT. They answer questions by emails and can escalate internally if needs be.
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
Pitney Bowes Finance Limited is a UK-registered company whose stated business, according to Companies House, is financial leasing. It forms part of the wider Pitney Bowes group, whose UK operations trade under the Pitney Bowes name and provide document management, mailing, franking, shipping and tracking solutions, along with cloud-based platforms for managing post, parcels and people. Pitney Bowes Finance Limited's own registered activity relates to financing and leasing arrangements supporting the group's equipment and services rather than direct provision of those solutions. The company has been on record since 1964 and remains active, based in London.
Generated from the company's website and Companies House records. Sources: pitneybowes.co.uk