The average time taken for SEW-EURODRIVE LIMITED to pay invoices to suppliers has decreased from 45 days in Apr 2018-Sep 2018 to 40 days in Jul 2019-Dec 2019. This indicates an improvement in payment efficiency.
The volatility in the percentage of invoices paid within 30 days has decreased from 15% in Apr 2018-Sep 2018 to 0% in Jul 2019-Dec 2019. This shows that SEW-EURODRIVE LIMITED has become more consistent in paying invoices within 30 days.
Overall, there has been an improvement in the payment efficiency of SEW-EURODRIVE LIMITED between Apr 2018-Dec 2019. The average time taken to pay invoices has decreased and there has been a decrease in volatility for invoices paid within 30 days. However, there has been an increase in the percentage of invoices paid later than 60 days in the most recent period.
| 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 Oct 2018 - 28 Jun 2019 | 28 Jun 2019 | |||||
| 01 Apr 2018 - 30 Sept 2018 | 24 Oct 2018 | 45 | 15% | 85% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
All purchase invoices are settled by the 20th of the following month. For example: All July 2018 invoices settled by 20th August 2018
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
Supplier contacted immediately by Purchasing department. If no resolution can be agreed then payment withheld. Extremely rare that this happens Invoice settled as soon as practicable upon resolution being made
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
SEW-EURODRIVE LIMITED is a leading provider of power transmission and automation solutions. The company was founded in 1931 and has its registered office in Normanton, West Yorkshire.
The company's sustainability program is an integral part of its operations, with a focus on reducing environmental impact and promoting social responsibility. SEW-EURODRIVE LIMITED is committed to using renewable energy sources, reducing waste and emissions, and promoting sustainable practices throughout its supply chain.
SEW-EURODRIVE LIMITED offers a wide range of innovative products and services, including gear motors, frequency inverters, servo drives, and decentralized drive systems. These products are designed to provide reliable and efficient solutions for various industries, such as automotive, food and beverage, and mining.
The company's key people include Managing Director, Paul Crowther, and Sales and Marketing Director, Mark Eagers. They lead a team of highly skilled professionals who are dedicated to providing excellent customer service and delivering high-quality products.
SEW-EURODRIVE LIMITED can be contacted through their website, which provides information on their products, services, and sustainability efforts. Their registered office address is SEW-EURODRIVE LIMITED, Rutherford Drive, Park Farm South, Normanton, West Yorkshire, WF6 1TD, United Kingdom.
In conclusion, SEW-EURODRIVE LIMITED is a reputable company that is committed to sustainability, providing innovative products and services, and is led by a team of experienced professionals. Their dedication to excellence and sustainable practices makes them a trusted partner for businesses across various industries.