The average time for LAVAZZA PROFESSIONAL UK LIMITED to pay invoices has been decreasing over the past three periods, from 59 days in 2017-12 to 54 days in 2021-07. This suggests that the company has been improving their payment process and paying their invoices more promptly.
The volatility in the percentage of invoices paid within 30 days has been relatively stable, with only a slight increase from 24% in 2017-12 to 33% in 2021-07. However, the volatility in the percentage of invoices paid later than 60 days has been more significant, with a decrease from 20% in 2017-12 to 5% in 2021-07. This could indicate that LAVAZZA PROFESSIONAL UK LIMITED has been actively working to reduce the number of late payments.
Between the periods of 2017-12 and 2021-07, LAVAZZA PROFESSIONAL UK LIMITED has seen improvements in their payment process. The average time to pay has decreased from 59 days to 54 days, and the percentage of invoices paid within 30 days has increased from 24% to 33%. However, there have been fluctuations in the percentage of invoices paid later than 60 days, with a high of 29% in 2018-07 and a low of 5% in 2021-07. The company has consistently maintained a standard payment period of 30 days throughout all periods.
| 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 2021 - 31 Dec 2021 | 12 May 2022 | 54 | 33% | 62% | 5% | 16% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Oct 2021 | 61 | 26% | 66% | 8% | 15% |
| 01 Jun 2020 - 31 Dec 2020 | 26 Oct 2021 | 60 | 31% | 60% | 8% | 4% |
| 01 Jan 2020 - 30 Jun 2020 | 20 Oct 2020 | 35 | 47% | 41% | 12% | 14% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 51 | 12% | 79% | 9% | 1% |
| 01 Jan 2019 - 30 Jun 2019 | 21 Oct 2019 | 55 | 23% | 58% | 19% | 1% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 60 | 24% | 47% | 29% | 1% |
| 31 Dec 2017 - 29 Jul 2018 | 27 Nov 2018 | 59 | 24% | 56% | 20% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 Days from invoice date
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
120
Suppliers are instructed to contact AP department at direct group email address who will aim to resolve any dispute as quickly as possible. Monitoring reports are issued on a timely basis to track payments on hold and queries so as to ensure prompt response/resolve of queries.
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
Lavazza Professional UK Limited, part of the Lavazza Group, supplies workplace coffee and drinks vending solutions to UK businesses. It provides KLIX in-cup vending machines, FLAVIA brewing systems, Lavazza BLUE and bean-to-cup machines, Micro Markets and coffee-to-go equipment for offices, factories, reception areas and hospitality venues. The company offers a range of hot and cold drinks including coffee, tea, soups and cold beverages, alongside food and snack vending and water coolers. It also provides managed service, engineering support and account management for workplace drinks provision nationwide, trading from its Basingstoke registered office.
Generated from the company's website and Companies House records. Sources: klix.co.uk · klix.co.uk