VIRIDOR WASTE exhibits a strong trend of prompt payments, with an average payment time of 25 days and 82% of invoices settled within 30 days. This indicates consistent operational efficiency in managing supplier payments, suggesting a reliable payment trajectory for most transactions.
While the majority of payments are prompt, there is some volatility evidenced by 11% of payments being late, with 6% extending beyond 60 days. This introduces a moderate level of unpredictability for a minority of invoices, indicating a potential risk of delayed cash flow for certain transactions.
Overall, VIRIDOR WASTE presents a largely favorable payment profile, making them a generally low-risk partner for suppliers. Suppliers should proceed with confidence, but consider monitoring invoices that approach or exceed 30 days due to the identified percentage of late payments. Implementing standard credit control practices and clear communication on payment terms will further mitigate any potential, albeit minor, payment risks.
| 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 Apr 2019 - 30 Sept 2019 | 29 Oct 2019 | 28 | 77% | 18% | 5% | 17% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 16 | 92% | 6% | 2% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days after the end of the month of receipt by the Customer of a valid undisputed invoice. All payment activity for Viridor Ltd and all subsidiaries are manged and processed by Viridor Waste Management Ltd (the main group trading company). As a result, the payment practices reported for Viridor Waste Management Ltd reflect all transactions across the group.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
All payment activity for Viridor Ltd and all subsidiaries are manged and processed by Viridor Waste Management Ltd (the main group trading company). As a result, the payment practices reported reflect all transactions across the Viridor group plus any specific payments made directly by the subsidiary. Viridor introduced an automated invoice process in conjunction with a new group ERP system on 1 April 2018. This was implemented to deliver improved financial governance and improve the timeliness and response to the invoice workflow and payments to suppliers. A valid invoice reflects: • registered and approved supplier • purchase order number • includes the necessary details of goods/services, date and financial detail and sent either electronically to viridorinvoices@pennon-group.co.uk or by post. Whilst Viridor is not a member of the prompt payment code, we do adopt the principles of the code including: 1. paying suppliers on time – with average payment days which is below our standard terms and lower than 30 days 2. Clear guidance to suppliers – our terms and conditions are included within our purchase orders and on our website. 3. Encourage good practice – as part of Pennon Group Plc a Supplier Code of Conduct and Sustainable Procurement Policy was launched in November 2018.
Maximum contractual payment period agreed
60
Viridor Waste Management Ltd operates an automated invoice process. We work closely with our suppliers and aim to pay all invoices in a timely and accurate manner. Any disputes that arise are immediately brought to the attention of the dedicated Accounts Payable team and Transactional Services Manager who will engage with all relevant stakeholders to ensure a speedy and satisfactory resolution. Any dispute arising that is not resolved is escalated through the finance management structure and the Executive Management team member if required.
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
VIRIDOR WASTE (GREATER MANCHESTER) LIMITED is an active private limited company. As its name indicates, the organisation specialises in waste management and related services, with 'Greater Manchester' forming part of its official designation.
Registered as company number 02705057, the company maintains an active status and was incorporated on 8 April 1992. Its registered office is located at Ardley Erf, Middleton Stoney Road, Ardley, England, OX27 7AA, placing its official location within the South East region.
Companies operating in the UK waste sector typically provide a comprehensive range of services. These include the collection, treatment, recycling, and disposal of various waste streams for commercial, industrial, and municipal clients. Such organisations also often specialise in resource management and the generation of energy from waste.