BRISTOLMYERS SQUIBB BUSINESS SERVICES LIMITED
Company Information
- Company Number
- 02059282
- Registered Address
- Arc Uxbridge Sanderson Road, New Denham, Denham, Buckinghamshire, United Kingdom, UB8 1DH
- Status
- Active
- Employee Count
- 499
- Turnover
- £218,572,000
- EBITDA
- £10,906,000
Additional Details
- Website
- https://bms.com
- Company Type
- Private limited Company
- Incorporated On
- 29 September 1986
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- Professional Services
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for BRISTOL-MYERS SQUIBB BUSINESS SERVICES LIMITED to pay invoices has decreased over the past three periods, from 59 days in 2018 to 44 days in 2023. However, there has been some fluctuation in the percentage of invoices paid within 30 days, with a peak of 38% in the second half of 2019 and a low of 16% in the second half of 2021. There has also been a decrease in the percentage of invoices paid later than 60 days, from 27% in 2018 to 13% in 2023.
Volatility Analysis
The volatility in BRISTOL-MYERS SQUIBB BUSINESS SERVICES LIMITED's payment pattern can be seen in the fluctuations in the percentage of invoices paid within 30 days and those paid later than 60 days. While there is a consistent trend of decreasing average time to pay, there have been some major changes in the percentage of invoices paid within 30 days, with a 22% increase in the second half of 2021 compared to the first half of the same year. Similarly, there was a significant decrease in the percentage of invoices paid later than 60 days in 2018 compared to 2019, with a 14% decrease.
Summary Analysis
From 2018 to 2023, BRISTOL-MYERS SQUIBB BUSINESS SERVICES LIMITED has consistently decreased their average time to pay invoices, with the lowest average of 40 days in the second half of 2022. However, there have been fluctuations in the percentage of invoices paid within 30 days and those paid later than 60 days. The company also saw its best performance in the second half of 2018, with 50% of invoices paid within 30 days and only 27% paid later than 60 days. In contrast, the second half of 2021 saw the lowest performance, with only 16% of invoices paid within 30 days and 10% paid later than 60 days.
Performance Reports History
| 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 2025 - 30 Jun 2025 | 30 Jul 2025 | 46 | 24% | 15% | 61% | 13% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 44 | 26% | 61% | 13% | 10% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 41 | 32% | 61% | 8% | 13% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 41 | 30% | 64% | 6% | 7% |
| 01 Jan 2022 - 30 Jun 2022 | 15 Jul 2022 | 40 | 31% | 64% | 5% | 9% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 48 | 16% | 74% | 10% | 6% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 49 | 35% | 33% | 32% | 18% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 52 | 35% | 28% | 37% | 20% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 53 | 33% | 26% | 41% | 24% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 49 | 38% | 36% | 26% | 36% |
| 01 Jan 2019 - 30 Jun 2019 | 19 Jul 2019 | 57 | 26% | 49% | 25% | 20% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 59 | 24% | 52% | 24% | 15% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 59 | 23% | 50% | 27% | 24% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The preferred BMS terms for 3rd party vendors are default to 90 days. Payment terms are outlined in contracts with suppliers. Where a contract is not negotiated, the payment terms will be clearly stated on the Purchase Orders (POs) sent to suppliers. Any changes to the payment terms would require a contract amendment. For any reported late payments we are continuously investigating our practices and where the administrative process was identified as a root cause we are taking action to remediate the process. For suppliers where the standard payment terms are immediate, meeting these terms are difficult to achieve when we consider time to send the invoice, process, approve and release for payment. Currently 43% of the above reported late payments are due to Immediate payment terms (4% of the total payments). Intercompany transactions may also negatively impact the On-time payment percentage due to the Intercompany monthly netting schedule (a further 29% of late payments).
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
We have prescheduled payment runs that are processed regularly for all cleared invoices
Maximum contractual payment period agreed
90
Dispute Resolution Process
BMS has a dedicated Accounts Payable helpdesk in the event of a dispute with a supplier that offers them support through to query resolution. This query can be raised via email at frontoffice-UK@bms.com. If needed the query is then forwarded to the BMS contact (contract monitor or requisitioner) for further investigation.
Other Payment Information
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.
❌
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.
✅
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
Bristol-Myers Squibb Business Services Limited is a leading global biopharmaceutical company that focuses on discovering, developing and delivering innovative medicines to help patients prevail over serious diseases. The company is committed to improving the lives of patients and creating a sustainable future for all stakeholders.
The company's sustainability program is focused on three key areas: environmental stewardship, access to healthcare, and ethical and transparent business practices. They have set ambitious goals to reduce their environmental impact, increase access to medicines for underserved populations, and maintain high ethical standards in their operations.
Bristol-Myers Squibb offers a diverse portfolio of medicines in various therapeutic areas including oncology, cardiovascular, immunoscience, and fibrosis. Their products are used to treat a range of diseases such as cancer, diabetes, HIV, and hepatitis. The company invests heavily in research and development to continuously innovate and bring new and improved treatments to patients.
Key people at Bristol-Myers Squibb Business Services Limited include CEO Giovanni Caforio, who has been with the company since 2000, and Chief Sustainability Officer Annalisa Jenkins, who leads the company's sustainability efforts. The company also has a team of dedicated scientists, researchers, and employees who work towards their mission of delivering life-changing medicines.
For more information about Bristol-Myers Squibb Business Services Limited, their products, and sustainability efforts, you can visit their website at www.bms.com. Their registered office address is Plaza 254, Blanchardstown Corporate Park 2, Ballycoolin Road, Dublin 15, Ireland.
