The average time to pay for SPECTRIS PLC has decreased from 37 days in the period of Jan 2022 to Jun 2022 to 35 days in the period of Jan 2023 to Jun 2023. This shows a positive trend of paying invoices faster over time.
The volatility of the percentage of invoices paid within 30 days has slightly decreased from 66% in the period of Jul 2022 to Dec 2022 to 61% in the period of Jul 2023 to Dec 2023. However, the volatility of the percentage of invoices paid later than 60 days has increased from 23% to 29% in the same periods. This shows that while the company is paying more invoices within 30 days, there is also an increase in the number of invoices being paid later than 60 days.
| 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 2025 - 31 Dec 2025 | 26 Jan 2026 | 42 | 68% | 21% | 11% | 19% |
| 01 Jan 2025 - 30 Jun 2025 | 30 Jul 2025 | 32 | 63% | 27% | 10% | 20% |
| 01 Jul 2024 - 31 Dec 2024 | 30 Jul 2025 | 33 | 58% | 26% | 16% | 44% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2025 | 40 | 65% | 25% | 10% | 51% |
| 07 Jul 2023 - 31 Dec 2023 | 01 Feb 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 35 | 61% | 29% | 10% | 24% |
| 01 Jul 2022 - 31 Dec 2022 | 20 Jan 2023 | 37 | 66% | 23% | 11% | 19% |
| 01 Jan 2022 - 30 Jun 2022 | 12 Aug 2022 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Ranges from an immediate payment to 31 days.
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
31
On a case-by-case basis by the accounts and procurement departments
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
SPECTRIS PLC is a global provider of precision instrumentation and controls. The company offers a wide range of products and services in industries such as automotive, aerospace, oil and gas, and pharmaceuticals.
Sustainability is a key focus for SPECTRIS PLC, and the company has implemented various initiatives to reduce their environmental impact and promote sustainable practices. These include reducing their carbon footprint, implementing energy efficient processes, and promoting recycling and waste reduction.
The company's products and services include measurement and control instruments, analytical instruments, industrial controls, and process control software. These products and services are used in various industries to improve efficiency, accuracy, and productivity.
SPECTRIS PLC has a strong leadership team, with Andrew Heath as the Group Chief Executive and Derek Harding as the Chairman. The company has a global presence, with operations in over 30 countries and a network of distributors and partners worldwide.
For more information on SPECTRIS PLC and their products and services, you can visit their website at www.spectris.com. The company's registered office address is 2 New York Square, Manchester, M1 4HD, United Kingdom. Overall, SPECTRIS PLC is committed to providing high-quality products and services while also prioritizing sustainability and responsible business practices.