EY GLOBAL SERVICES LIMITED
Company Information
- Company Number
- 05483856
- Registered Address
- 1 More London Place, London, England, SE1 2AF
- Status
- Active
- Employee Count
- 451.0
- Turnover
- 2630626000.0
- EBITDA
- 170758000.0
Additional Details
- Website
- https://ey.com
- Company Type
- Private limited Company
- Incorporated On
- 17 June 2005
- Nature of Business
- 69201 - Accounting and auditing activities$82990 - Other business support service activities not elsewhere classified
- Industries
- Financial Services
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| 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 | 31 Jan 2024 | 82 | 23% | 40% | 37% | 64% |
| 01 Jan 2023 - 30 Jun 2023 | 06 Sept 2023 | 70 | 28% | 42% | 30% | 64% |
| 01 Jul 2022 - 31 Dec 2022 | 25 Jan 2023 | 64 | 27% | 47% | 26% | 60% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 63 | 37% | 40% | 23% | 53% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 84 | 39% | 40% | 21% | 47% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 68 | 39% | 39% | 22% | 50% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 78 | 31% | 42% | 27% | 61% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 55 | 45% | 31% | 24% | 56% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 107 | 34% | 36% | 29% | 60% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 57 | 33% | 44% | 23% | 69% |
| 30 Jun 2018 - 28 Dec 2018 | 25 Jan 2019 | 67 | 27% | 43% | 30% | 75% |
| 03 Jan 2018 - 29 Jun 2018 | 25 Jul 2018 | 69 | 33% | 37% | 30% | 70% |
| 01 Jul 2017 - 31 Dec 2017 | 29 Jan 2018 | 66 | 35% | 33% | 32% | 73% |
Company Summary
EY Global Services Limited is a multinational professional services firm that offers a wide range of services including audit, tax, advisory and transaction advisory services
The company is headquartered in London, United Kingdom and has operations in more than 150 countries around the world
EY Global Services Limited is committed to promoting sustainability and has a dedicated sustainability program in place
This program focuses on reducing the company's environmental impact, promoting diversity and inclusion, and creating a positive social impact in the communities where it operates
The company offers a wide range of products and services to its clients, including financial auditing, tax planning and compliance, risk management, and business consulting
It also provides specialized services in areas such as cybersecurity, digital transformation, and sustainability consulting
The key people at EY Global Services Limited include the CEO, Carmine Di Sibio, and the Chairman, Mark Weinberger
They lead a team of over 300,000 employees worldwide, who are committed to delivering high-quality services to clients and driving the company's growth
For more information about EY Global Services Limited and its services, visit their website at www.ey.com
The company's registered office address is 1 More London Place, London SE1 2AF, United Kingdom
Company Review
Trend Analysis
The data shows that EY GLOBAL SERVICES LIMITED has been consistently improving their average time to pay over the past three periods, with a decrease of 9 percentage points from 2019-01-01 to 2022-12-31. However, there was a slight increase in 2023-01-01, showing a potential reversal in the positive trend.
Volatility Analysis
The data also shows that there has been some volatility in the percentage of invoices paid within 30 days, with a decrease of 2 percentage points in 2023-01-01 compared to the previous period. There has also been some fluctuation in the percentage of invoices paid later than 60 days, with a high of 37% in 2023-07-01 and a low of 21% in 2021-07-01.
Summary Analysis
From 2021-01-01 to 2023-01-01, EY GLOBAL SERVICES LIMITED has consistently maintained an average time to pay of around 68 days. However, there has been a significant decrease in the percentage of invoices paid later than 60 days, from 37% in 2023-07-01 to 21% in 2021-07-01. This shows a positive trend towards early payment. The company has also consistently maintained a short standard payment period of 45 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms with 3rd party suppliers 60 days with the exception of the following (where the payment period is 45 days): hotel framework agreements, agreements for the purchase of physical hardware, agreements for the purchase of original equipment from manufacturers and standard purchase orders for the purchase of on-premise software and hosted software. With respect to contracts with 3rd party suppliers the payment period commences from receipt of a proper invoice. Our standard hotel framework agreements (typically used for large hotel chains where we hold employee and client events) additionally provides for: (i) the supplier to deliver a draft invoice which we have 15 days to dispute, (ii) once we sign off on the draft invoice, the supplier may submit a final invoice, and (ii) we have 30 days from receipt to pay the final invoice With respect to intra-EY network contracts, we may provide various services to other firms within the wider EY network (“EY Firm(s)”) and EY Firm(s) may provide various services to us. Our standard payment terms require EY Firm(s) to submit invoices to us quarterly in arrears. Such invoices are payable 30 days after invoice receipt. Any undisputed amounts owed to EY Firm(s) may be set off against amounts owed by EY Firm(s) to us.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
As required, our statistics include figures for payments to external “3rd party” suppliers and payments made under intra-EY network contracts to other firms within the wider EY network (“EY Firm(s)”). Accordingly our statistics are not a fair and accurate reflection of our figures so far as they relate to our 3rd party suppliers. If only payments to external 3rd party suppliers are considered then our average time to pay is reduced to 63 days and 66% of invoices paid in the reporting period are settled within 60 days of receipt. If we were to report solely on our payments to our external 3rd party suppliers, our statistics would be as follows: Average Time to pay in days Percentage of invoices paid in 0 - 30 days - 24% Percentage of invoices paid in 31 - 60 days - 42% Percentage of invoices paid on or after 61 days - 34% % Payments due in the reporting period not paid within the agreed period - 49%
Maximum contractual payment period agreed
120
Dispute Resolution Process
With respect to contracts with 3rd party suppliers (as opposed to contracts with other members of the EY network), the general position is that the appointed service managers (and, if applicable, senior service managers) for each party first attempt to resolve the dispute. If the service managers cannot resolve the dispute and both parties agree the dispute may be referred to mediation. If either party does not agree with the dispute being resolved by mediation then disputes are referred to arbitration. The exceptions to this process are: (i) standard agreements for the purchase of physical hardware and agreements for the purchase of original equipment from manufacturers, which agreements do not include the mediation step and (ii) standard purchase orders for technology services which purchase orders are simply subject to the exclusive jurisdiction of the English courts to resolve disputes and do not include the service manager resolution or the mediation steps, or provisions for arbitration. With respect to intra-EY network contracts, disputes are first referred to mediation by the global executive of Ernst & Young Global Limited. If the global executive fails to negotiate a mutually settlement, disputes are finally settled by arbitration.
Other Payment Information
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
