Score of 88.8/100 qualifies for PaymentCheck Certification
The average time for SIEMENS INDUSTRY SOFTWARE COMPUTATIONAL DYNAMICS LIMITED to pay invoices has fluctuated over the past three years, but has generally decreased from 18 days in 2018-2019 to 16 days in 2022-2023. However, there was a significant increase in 2021-2022 to 20 days before decreasing again in the following period.
The volatility in the percentage of invoices paid within 30 days has been relatively low, with only a 6% difference between the highest and lowest values. However, the percentage of invoices paid later than 60 days has shown more volatility, with a difference of 10% between the highest and lowest values.
In the past three periods, SIEMENS INDUSTRY SOFTWARE COMPUTATIONAL DYNAMICS LIMITED has shown a decrease in the average time to pay invoices, with a significant increase in 2021-2022 before returning to a lower value in the following period. The percentage of invoices paid within 30 days has remained relatively consistent, while the percentage of invoices paid later than 60 days has shown more fluctuation. The company has consistently not paid invoices within agreed terms in all periods. The shortest standard payment period has remained at 0 days in all periods.
| 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 2022 - 31 Mar 2023 | 28 Apr 2023 | 1 | 98% | 2% | 0% | 52% |
| 01 Apr 2022 - 30 Sept 2022 | 26 Oct 2022 | 16 | 80% | 12% | 8% | 32% |
| 01 Oct 2021 - 31 Mar 2022 | 04 May 2022 | 16 | 80% | 12% | 8% | 32% |
| 01 Apr 2021 - 30 Sept 2021 | 01 Nov 2021 | 15 | 79% | 15% | 6% | 22% |
| 01 Oct 2020 - 31 Mar 2021 | 29 Apr 2021 | 20 | 72% | 16% | 12% | 16% |
| 01 Apr 2020 - 30 Sept 2020 | 29 Oct 2020 | 12 | 84% | 11% | 5% | 12% |
| 01 Oct 2019 - 31 Mar 2020 | 28 Apr 2020 | 16 | 79% | 14% | 6% | 13% |
| 01 Apr 2019 - 30 Sept 2019 | 29 Oct 2019 | 17 | 84% | 9% | 7% | 19% |
| 01 Oct 2018 - 31 Mar 2019 | 10 Apr 2019 | 18 | 86% | 8% | 7% | 18% |
| 01 Apr 2018 - 30 Sept 2018 | 25 Oct 2018 | 12 | 90% | 8% | 2% | 24% |
| 01 Oct 2017 - 31 Mar 2018 | 19 Apr 2018 | 12 | 90% | 8% | 2% | 24% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage is as follows: 100% were only Intercompany clearing transactions due net end of the month (only available to Siemens intercompany),. Please note Intercompany clearing terms are available to Siemens companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens cash pool.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
During the period changes were made to payment terms for specific suppliers after consultation with suppliers. No payments terms were used where no early settlement discounts were applied
Maximum contractual payment period agreed
0
1) Central Accounts Payable (AP) team for payment enquiries, contact points via e-mail. Relevant details are on Purchase Orders, usually the address of the business unit. E-mail: cf-ap-payments.pt@siemens.com 2) AP liaise with supplier to obtain and process missing invoices a) Check existing systems (scan provider - Brainware/invoice process queue to see if invoice already in query and/or rejected invoices - workflow EZ-Suite) 3) AP liaise with suppliers to confirm payment details (past and upcoming) 4) AP liaise with approvers to release overdue invoices for payment 5) AP team contact the vendor and try to solve the issue together with the business unit
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
SIEMENS INDUSTRY SOFTWARE COMPUTATIONAL DYNAMICS LIMITED is a leading engineering and technology company that offers innovative solutions for sustainable development. They have a strong focus on sustainability and have implemented various measures to reduce their environmental impact.
Their products and services include industrial software, computational dynamics, and engineering solutions for various industries such as automotive, aerospace, and energy. They also offer consulting services to help companies optimize their processes and improve their sustainability efforts.
The key people at SIEMENS INDUSTRY SOFTWARE COMPUTATIONAL DYNAMICS LIMITED include their CEO, Dr. Jan Mrosik, and their Chief Sustainability Officer, Barbara Kux. They are supported by a team of experts in the field of engineering and sustainability.
In terms of their sustainability program, the company has set ambitious targets to reduce their carbon footprint and increase the use of renewable energy sources. They also have initiatives in place to promote diversity and inclusion in the workplace, as well as support local communities through various social responsibility projects.
The company's website address is www.siemens.com/industry-software. Their registered office address is SIEMENS INDUSTRY SOFTWARE COMPUTATIONAL DYNAMICS LIMITED, 1 The Boulevard, Cain Road, Bracknell, Berkshire, RG12 1WP, United Kingdom.
In summary, SIEMENS INDUSTRY SOFTWARE COMPUTATIONAL DYNAMICS LIMITED is a reputable company that is committed to sustainable development and offers a wide range of engineering and technology solutions. With their strong leadership and focus on sustainability, they are well positioned to make a positive impact in the industry and the world.