The average time taken for DIEBOLD NIXDORF (UK) LIMITED to pay invoices has been fluctuating over the past three periods. In 2018, the average time to pay was 53 days, which increased to 59 days in the second period. However, in 2019, there was a slight decrease to 56 days, followed by an increase to 58 days in the most recent period. Overall, there has been a slight upward trend in the average time to pay since the start of 2018.
The volatility of DIEBOLD NIXDORF (UK) LIMITED's payment behavior can be seen in the fluctuation of the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. These percentages have been changing significantly over the past three periods, indicating a high level of volatility in the company's payment patterns.
From the data provided, it can be seen that DIEBOLD NIXDORF (UK) LIMITED has been struggling to pay invoices within the agreed terms. In the first period, only 9% of invoices were paid within 30 days, and this percentage decreased to 3% in the most recent period. The percentage of invoices paid between 31 and 60 days has also been decreasing, indicating a delay in payments. The worst period for the company was in 2019, where 26% of invoices were paid later than 60 days, and 93% were not paid within the agreed terms.
| 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 2020 - 30 Jun 2020 | 13 Jan 2022 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 06 Feb 2020 | 58 | 3% | 73% | 24% | 85% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 56 | 6% | 68% | 26% | 93% |
| 01 Jul 2018 - 31 Dec 2018 | 03 Feb 2019 | 59 | 7% | 74% | 20% | 76% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 53 | 9% | 69% | 22% | 77% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are agreed with our suppliers through a contract
Were there any changes to the standard payment terms in the reporting period?
Yes – Only a few of our new suppliers were moved to 90 days payment terms
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
If any invoice is in dispute or not agreeing to our PO, the supplier would be contacted by our Shared Service Function and the PO creator
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
DIEBOLD NIXDORF (UK) LIMITED is a leading provider of innovative solutions and services to the financial and retail industries. With a strong focus on sustainability, the company is committed to providing environmentally friendly products and services.
Their sustainability program includes initiatives such as reducing carbon emissions, promoting energy efficiency, and using sustainable materials in their products. They also have a recycling program in place to responsibly dispose of their products at the end of their lifecycle.
DIEBOLD NIXDORF (UK) LIMITED offers a wide range of products and services, including cash handling systems, ATM solutions, software solutions, and managed services. Their products and services are designed to enhance the customer experience, improve efficiency, and reduce costs for their clients.
The company is led by a team of experienced and dedicated individuals, including Managing Director, Nick Chaudhry, and Finance Director, Mark Thomas. They are committed to driving the company's growth and success while maintaining a strong focus on sustainability.
For more information about DIEBOLD NIXDORF (UK) LIMITED and their products and services, visit their website at www.dieboldnixdorf.com/uk or contact them at their registered office address: Bracknell Business Centre, Downmill Road, Bracknell, Berkshire, RG12 1QS.