Score of 85.45/100 qualifies for PaymentCheck Certification
GRANT THORNTON BUSINESS SERVICES exhibits a strong trend of timely payments, with an average payment time of 27 days. A significant 85% of invoices are consistently settled within 30 days, indicating a positive and predictable payment trajectory for suppliers.
While the majority of payments are prompt, the 15% late payment rate, including 5% exceeding 60 days, introduces some moderate unpredictability. This suggests a minor but present risk of significant payment delays for a portion of invoices, potentially affecting short-term cash flow predictability.
Overall, GRANT THORNTON BUSINESS SERVICES offers a generally favorable payment profile with a high likelihood of timely payments. Suppliers should factor in the 15% late payment rate, especially the 5% over 60 days, when establishing credit limits or considering payment terms and may implement proactive invoice tracking.
| 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 | 31 Jan 2024 | 27 | 85% | 10% | 5% | 15% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 25 | 82% | 18% | 0% | 18% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 25 | 90% | 10% | 0% | 10% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Jul 2022 | 26 | 82% | 16% | 2% | 18% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 26 | 82% | 16% | 2% | 18% |
| 01 Jan 2021 - 30 Jun 2021 | 16 Jul 2021 | 20 | 90% | 9% | 1% | 10% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 14 | 96% | 4% | 0% | 4% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 20 | 86% | 10% | 4% | 14% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 25 | 80% | 16% | 4% | 20% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 25 | 80% | 16% | 4% | 20% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 25 | 78% | 19% | 3% | 22% |
| 01 Jan 2018 - 30 Jun 2018 | 06 Aug 2018 | 25 | 79% | 16% | 5% | 21% |
| 01 Jul 2017 - 31 Dec 2017 | 29 Jan 2018 | 24 | 80% | 16% | 4% | 20% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
standard terms 30 days form 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
30
between the internal contact and the supplier these are resolved. Payment and/or credit notes then processed on agreement.
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
GRANT THORNTON BUSINESS SERVICES is an active private unlimited company that provides services to businesses. Its name clearly indicates a specialisation in business-related support and solutions.
Registered in England with company number 01224178, GRANT THORNTON BUSINESS SERVICES was incorporated on 27 August 1975. Its registered office is located at 8 Finsbury Circus, London, England, EC2M 7EA.
Companies providing business services in the UK market typically offer a range of professional support functions for other organisations. These services often include administrative support, operational solutions, and various forms of professional advisory.
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