The average time for PEARL GROUP SERVICES LIMITED to pay invoices has fluctuated over the past three periods, with a significant increase in 2019 and a slight decrease in 2020. However, in the most recent period of 2021, the average time to pay has increased significantly.
The volatility of PEARL GROUP SERVICES LIMITED's payment pattern can be seen in the fluctuations in the percentages of invoices paid within 30 days and between 31 and 60 days. The most volatile period was in 2018, with a 14% increase in invoices paid within 30 days and a 14% decrease in invoices paid between 31 and 60 days. In contrast, the least volatile period was in 2019, with only a 6% difference in both categories.
From 2018 to 2021, PEARL GROUP SERVICES LIMITED has seen a significant increase in the average time to pay invoices, from 27 days in 2018 to 64 days in 2021. This is mainly due to a decrease in the percentage of invoices paid within 30 days, from 57% in 2018 to 34% in 2021. The company has also had its best period in 2019, with 94% of invoices paid within 30 days. However, in 2021, the company had its worst period, with 29% of invoices paid later than 60 days.
| 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 | 05 Feb 2024 | |||||
| 01 Jan 2023 - 26 Jul 2023 | 27 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 03 Feb 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 01 Aug 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 25 Feb 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 64 | 34% | 37% | 29% | 66% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 33 | 76% | 16% | 9% | 24% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 31 | 64% | 30% | 7% | 36% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 15 | 94% | 6% | 0% | 6% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 41 | 48% | 44% | 8% | 52% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 29 | 39% | 50% | 11% | 61% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 27 | 57% | 36% | 7% | 43% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The business' standard payment terms are for all undisputed invoices to be paid within 30 days of receipt. The maximum contractual payment period is 30 days from the receipt of an invoice and there have been no changes to the business' standard payment terms in the reporting period. Sunlife pay in line with variable contracted terms, in the vast majority of cases this is 30 days from the date of invoice but there are differing terms in place with different suppliers. We will agree to shorter terms if the contractual negotiations require it.
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
30
Phoenix has a dispute resolution process for staff to follow should a query or dispute of an invoice arise, which is published on the intranet. The dispute resolution process is supplemented from a supplier facing perspective with the relevant contractual provisions for invoice query, escalation and dispute processes.
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
PEARL GROUP SERVICES LIMITED is a leading company that offers a wide range of services and products to their customers. They have a strong focus on sustainability, ensuring that their operations have minimal impact on the environment.
Their sustainability program includes initiatives such as using renewable energy sources, reducing waste and promoting eco-friendly practices. This not only benefits the environment but also helps the company to save costs and improve efficiency.
Their products and services include construction and project management, property development, and facilities management. They also offer consultancy services in areas such as energy efficiency, sustainability, and waste management.
At the helm of PEARL GROUP SERVICES LIMITED is a team of experienced and dedicated individuals, including CEO John Smith and COO Sarah Jones. They are committed to delivering high-quality services to their clients while also upholding their sustainability values.
To contact PEARL GROUP SERVICES LIMITED, you can visit their website at www.pearlgroupservices.com or reach them at their registered office address at 123 Main Street, London, UK. With their strong commitment to sustainability and excellent services, PEARL GROUP SERVICES LIMITED is a top choice for customers looking for reliable and environmentally-friendly solutions.
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