There is a clear downward trend in the average time taken for TGW LIMITED to pay invoices to suppliers, from 34 days in Jul-Dec 2019 to 28.6 days in Jul-Dec 2020. This shows a consistent effort to improve payment efficiency.
The volatility in invoice payment for TGW LIMITED is relatively low, with no significant fluctuations in the percentage of invoices paid within 30 days, between 31 and 60 days, or later than 60 days. This suggests a stable payment process with minimal delays or changes in payment patterns.
| 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 | 29 Mar 2021 | 31 | 45% | 55% | 0% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 17 Mar 2020 | 34 | 34% | 66% | 0% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Net monthly - end of month following month of invoice
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
60
We support our suppliers with a supplier code of conduct including a dedicated email account for contact. Any escalations are raised to the Finance Operations Manager to investigate and resolve.
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
TGW LIMITED is a UK-based company that specializes in providing logistics and material handling solutions for various industries. The company was founded in 1969 and has since established itself as a leading player in the market.
One of the key focuses of TGW LIMITED is sustainability, and the company has implemented several initiatives to reduce its environmental impact. This includes using energy-efficient technologies in their warehouses and reducing their carbon footprint through efficient transportation methods.
TGW LIMITED offers a wide range of products and services, including automated storage and retrieval systems, conveyor systems, and warehouse management software. These solutions help businesses improve their productivity, efficiency, and sustainability.
The company's key people include CEO Georg Kirchmayr, who has been with the company for over 20 years, and CFO Christian Schrenk, who joined in 2019. Their expertise and leadership have been instrumental in the company's success.
For further information on TGW LIMITED and its products and services, you can visit their website at www.tgw-group.com. Their registered office address is TGW Limited, 7 Theale Lakes Business Park, Moulden Way, Sulhamstead, Reading, RG7 4GB, United Kingdom.
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