| 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 2018 - 30 Jun 2018 | 26 Jul 2018 | 18 | 84% | 16% | 0% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard Payment terms are 50 days as per Thomson Reuters Purchasing policy. Most common payment terms that set up with the vendors as 0 days, 30 days and 50 days with the suppliers as per the contractual agreements during the reporting period. Average time taken to pay an invoice is 18 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
60
There is a dedicated P2P Helpdesk team that the vendors can reach out to with regards to their queries related to invoice/payment status or any other Accounts Payable related queries. The queries can be submitted through a supplier portal link and the supplier be notified with an auto response containing the ticket number for tracking purposes. The queries are responded to within 24-48 hours time frame & resolution is provided as agreed with the supplier. For further details, please visit the Thomson Reuters Supplier Portal https://www.thomsonreuters.com/en/resources/global-sourcing-procurement.html
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
TR Organisation Limited is a UK-registered company classified under "activities of head offices", indicating it functions as a group administrative or holding entity rather than a trading business in its own right. Its name and registered London office point to it being part of the Thomson Reuters group. Thomson Reuters describes itself as an AI and technology company that provides trusted content and workflow automation to professionals, covering legal research and drafting, tax and accounting software, trade and supply chain compliance, risk and fraud detection, and news media through Reuters. This UK entity would therefore represent a corporate or head-office function within that wider international group rather than delivering these services itself.
Generated from the company's website and Companies House records. Sources: thomsonreuters.com · thomsonreuters.com