Score of 88.6/100 qualifies for PaymentCheck Certification
The trend for INVESCO PENSIONS LIMITED's average time to pay invoices has been fluctuating between 11 and 18 days over the past three periods. However, there has been a slight decrease in the average time to pay from 2018-2019, followed by an increase in 2020, and then a decrease again in 2021 and 2022.
Overall, there has been low volatility in INVESCO PENSIONS LIMITED's payment patterns. The company has consistently paid invoices within 30 days and has not had any major delays in payments. However, there has been some fluctuation in the percentage of invoices paid within agreed terms, indicating potential challenges in adhering to payment terms.
Over the past three periods, INVESCO PENSIONS LIMITED has maintained a consistent trend of paying invoices within 30 days and not having any major delays in payments. There has been some fluctuation in the average time to pay and the percentage of invoices not paid within agreed terms, with a peak in 2020. However, the company has shown improvements in these areas in the following 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 Jul 2023 - 31 Dec 2023 | 23 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 18 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 19 Jan 2023 | 11 | 93% | 7% | 0% | 43% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Jul 2022 | 17 | 100% | 0% | 0% | 38% |
| 01 Jul 2021 - 31 Dec 2021 | 20 Jan 2022 | 14 | 93% | 7% | 0% | 13% |
| 01 Jan 2021 - 30 Jun 2021 | 15 Jul 2021 | 16 | 90% | 10% | 0% | 30% |
| 01 Jul 2020 - 31 Dec 2020 | 19 Jan 2021 | 12 | 100% | 0% | 0% | 38% |
| 01 Jan 2020 - 30 Jun 2020 | 16 Jul 2020 | 13 | 100% | 0% | 0% | 50% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 15 | 100% | 0% | 0% | 13% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 15 | 100% | 0% | 0% | 22% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 12 | 100% | 0% | 0% | 33% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 18 | 93% | 7% | 0% | 36% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Invesco’s standard payment terms are 30 days. All invoices will be processed for payment 30 days from the date of the invoice by the Accounts Payable team to the extent that the supplier has completely and properly delivered/performed the agreement and to the extent that the supplier has delivered a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
In the event of a dispute with a supplier, the Accounts Payable customer service team can liaise with the business contact/relationship holder to work with the supplier to resolve the dispute. The Accounts Payable team have a 48-hour SLA to resolve all queries raised providing the information is available.
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
INVESCO PENSIONS LIMITED is a leading investment management company that provides pension solutions to individuals and businesses in the United Kingdom. The company focuses on providing sustainable and responsible investment options to its clients.
As part of their sustainability program, INVESCO PENSIONS LIMITED has implemented various initiatives to reduce their carbon footprint and promote environmental responsibility. This includes investing in renewable energy sources, reducing waste and recycling, and promoting sustainable business practices among their employees and stakeholders.
The company offers a range of pension products and services, including workplace pensions, self-invested personal pensions (SIPPs), and individual savings accounts (ISAs). They also provide investment solutions for retirement planning and wealth management.
The key people at INVESCO PENSIONS LIMITED include their CEO, Martin Flanagan, and their Chief Investment Officer, Stephanie Butcher. Both have extensive experience in the investment management industry and are committed to promoting sustainability in their business practices.
To get in touch with INVESCO PENSIONS LIMITED, individuals can visit their website at www.invesco.com/uk or contact their registered office at 43-45 Portman Square, London, W1H 6LY, United Kingdom. The company also has offices in various locations across the UK, including Edinburgh, Glasgow, and Leeds.
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