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.
❌
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.
❌
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.
❌
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?
❌
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 registered in Market Harborough, Leicestershire, and forms part of TGW Logistics Group, an international provider of warehouse automation technology. The wider group designs and installs automated storage, retrieval and picking systems, software and robotics for logistics and fulfilment operations across sectors such as fashion, grocery, industrial goods and consumer goods. Its official SIC classification covers other construction installation work, consistent with the fitting of automation equipment into client warehouses. As the UK company within this group, TGW Limited represents the group's presence and installation activity in Britain, supporting clients with warehouse automation projects rather than manufacturing goods for sale itself. It has been an active company since incorporation in November 2006.
Generated from the company's website and Companies House records. Sources: tgw-group.com