| 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 2018 - 31 Dec 2018 | 29 Jan 2019 | 26 | 71% | 18% | 11% | 61% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 | 22 | 68% | 26% | 6% | 61% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard Payment term's are 30 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
40
Disputes would normally be handled between the Supplier and the IFS Buyer. Escalation process would be to the Financial Controller.
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.
❌
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
This registered entity is the UK company within the IFS group, an international developer of enterprise software. The wider IFS group builds and delivers cloud-based ERP, enterprise asset management, field service management and enterprise service management solutions, along with Industrial AI tools, for organisations that manufacture goods, maintain assets or manage service operations. The group serves industries including aerospace and defence, energy and utilities, construction and engineering, manufacturing, transportation and telecommunications, operating in over 90 countries. The UK entity's own registered activity is recorded as business and domestic software development, reflecting its role as part of this global enterprise software group rather than a standalone product line.
Generated from the company's website and Companies House records. Sources: ifsworld.com · ifsworld.com