TNT EXPRESS ICS LIMITED
Company Information
- Company Number
- 06058166
- Employee Count
- 234
- Turnover
- £67,839,000
- EBITDA
- £39,155,000
Additional Details
- Website
- https://tnt.com
- Industries
- Software
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for TNT EXPRESS ICS LIMITED to pay invoices has fluctuated over the past three periods. From 2017-06-01 to 2018-11-30, there was a steady increase in the average time taken, reaching its highest point of 41 days in 2018-12-01 to 2019-05-31. However, from 2019-06-01 to 2021-11-30, the trend has been decreasing, with the average time taken dropping to 39 days.
Volatility Analysis
The volatility of TNT EXPRESS ICS LIMITED's payment patterns can be seen in the fluctuation of the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days. While there has been a slight decrease in the percentage of invoices paid later than 60 days, there is still a significant fluctuation in this metric, ranging from 11% to 17% over the past three periods. This highlights the company's inconsistent payment practices.
Summary Analysis
From 2017 to 2022, TNT EXPRESS ICS LIMITED has seen a decrease in the average time taken to pay invoices, from 39 days to 40 days. However, the company has struggled to pay invoices within the agreed terms, with a high of 72% in 2019-12-01 to 2020-05-31. The best performance for the company in terms of early payment was in 2017-12-01 to 2018-05-31, with 43% of invoices paid within 30 days. The worst period for late payment was in 2020-06-01 to 2020-11-30, with 15% of invoices paid later than 60 days.
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 Dec 2021 - 31 May 2022 | 21 Jun 2022 | 40 | 36% | 51% | 13% | 21% |
| 01 Jun 2021 - 30 Nov 2021 | 16 Dec 2021 | 39 | 47% | 45% | 8% | 34% |
| 01 Dec 2020 - 31 May 2021 | 28 Jun 2021 | 35 | 54% | 35% | 11% | 53% |
| 01 Jun 2020 - 30 Nov 2020 | 18 Dec 2020 | 42 | 38% | 47% | 15% | 45% |
| 01 Dec 2019 - 31 May 2020 | 18 Jun 2020 | 39 | 39% | 46% | 15% | 72% |
| 01 Jun 2019 - 30 Nov 2019 | 19 Dec 2019 | 43 | 37% | 49% | 14% | 32% |
| 01 Dec 2018 - 31 May 2019 | 28 Jun 2019 | 41 | 37% | 49% | 14% | 44% |
| 01 Jun 2018 - 30 Nov 2018 | 17 Dec 2018 | 40 | 39% | 44% | 17% | 41% |
| 01 Dec 2017 - 31 May 2018 | 27 Jun 2018 | 38 | 43% | 44% | 13% | 47% |
| 01 Jun 2017 - 30 Nov 2017 | 19 Dec 2017 | 39 | 37% | 50% | 13% | 91% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The company does not use standard payment terms but has preferred payment terms of 45 days when negotiating qualifying contracts.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
80
Dispute Resolution Process
To raise a complaint or concern related to payment of invoices suppliers should contact the company's Accounting and Controls Purchase to Pay team by email. The Accounting and Controls Purchase to Pay team will conduct an initial investigation into the reason for non-payment and where possible will resolve simple, straight forward issues, for example, unreceived invoices, administrative errors and purchase order discrepancies. Disputes involving more complex issues such as non-performance, pricing discrepancies or breach of contractual terms will be referred to the company's Sourcing and Procurement or Operations teams to liaise with the supplier and resolve. If required, disputes will be escalated to the company's Legal Counsel and/or senior management team to negotiate and resolve the issues arising. The Accounting and Controls Purchase to Pay team aim to resolve supplier complaints or transfer them to another team to investigate within 7 days of receipt.
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.
❌
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
Company Summary
TNT EXPRESS ICS LIMITED is a global logistics company that offers a wide range of services including express delivery, freight, and supply chain management. The company is committed to sustainability and has implemented various initiatives to reduce their environmental impact, such as using alternative fuels and optimizing their transportation routes.
Their products and services include international and domestic express delivery, air and ocean freight, warehousing, and customs clearance. They also offer tailored supply chain solutions for businesses of all sizes, helping them to streamline their operations and improve efficiency.
The key people at TNT EXPRESS ICS LIMITED include CEO David Binks and CFO Maarten Kuijt. They are supported by a team of dedicated professionals who are committed to providing excellent service and ensuring the company's success.
For contact information, the company's website is www.tnt.com and their registered office address is TNT Centre, Haaksbergweg 13, 1101 BP Amsterdam, The Netherlands. Customers can also reach them through their customer service hotline or by filling out an online contact form on their website.
In conclusion, TNT EXPRESS ICS LIMITED is a leading logistics company with a strong focus on sustainability. Their wide range of services and efficient supply chain solutions make them a reliable choice for businesses looking to streamline their operations. With a dedicated team of professionals and a commitment to sustainability, TNT EXPRESS ICS LIMITED continues to be a trusted partner for businesses around the world.
