In the past three periods, there has been a steady increase in the average time it takes for AON GLOBAL OPERATIONS PLC to pay invoices to suppliers. This is reflected in the data from 2018 to 2020, where the average time to pay has increased from 33 days to 80 days, a significant jump of 147%. This trend suggests that the company is taking longer to pay its invoices. Looking at the percentage of invoices paid within 30 days, we can see a decrease from 50% in the first period to 18% in the last period. This indicates that fewer invoices are being paid within the agreed time frame. On the other hand, the percentage of invoices paid between 31 and 60 days has fluctuated throughout the three periods, with a high of 43% in 2019 and a low of 14% in 2019. This suggests that the company is struggling to consistently pay invoices in a timely manner. The most concerning trend is the percentage of invoices paid later than 60 days. This has consistently increased in each period, from 17% in 2018 to 53% in 2020. This indicates that AON GLOBAL OPERATIONS PLC is significantly delaying payments to its suppliers.
In terms of volatility, we can see that there has been a significant increase in the average time to pay in the past three periods. This is reflected in the data from 2018 to 2020, where there is a high volatility of 147% in the average time to pay. Additionally, the percentage of invoices paid within 30 days has also shown high volatility, with a difference of 39% between the highest (57%) and lowest (18%) in the three periods. The percentage of invoices paid between 31 and 60 days has also shown volatility, with a difference of 29% between the highest (43%) and lowest (14%) in the three periods. Overall, the data suggests that AON GLOBAL OPERATIONS PLC has experienced high volatility in its payment practices, with significant increases in the average time to pay and a varying percentage of invoices paid within 30-60 days.
Looking at the data from the past three periods, AON GLOBAL OPERATIONS PLC has shown a concerning trend of taking longer to pay invoices to suppliers. This is reflected in the steady increase in the average time to pay and the consistently high percentage of invoices paid later than 60 days. While there have been fluctuations in the percentage of invoices paid within 30 days and between 31 and 60 days, the overall trend is a decrease in timely payments. This suggests that the company may be facing financial difficulties or struggling with cash flow. It is important for AON GLOBAL OPERATIONS PLC to address these issues and improve its payment practices to maintain good relationships with suppliers and ensure timely delivery of goods and services. Additionally, the company should prioritize paying invoices within the agreed terms to avoid any penalties or damage to its reputation.
| 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 2021 - 30 Jun 2021 | 04 Aug 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 54 | 25% | 29% | 46% | 80% |
| 01 Jan 2020 - 30 Jun 2020 | 04 Aug 2020 | 80 | 18% | 29% | 53% | 93% |
| 01 Jul 2019 - 31 Dec 2019 | 03 Feb 2020 | 49 | 57% | 14% | 29% | 29% |
| 01 Jan 2019 - 30 Jun 2019 | 13 Sept 2019 | 46 | 29% | 43% | 28% | 100% |
| 01 Jul 2018 - 31 Dec 2018 | 05 Feb 2019 | 35 | 57% | 19% | 24% | 24% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Nov 2018 | 33 | 50% | 33% | 17% | 67% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment term is 45 days from invoice date. This period reflects the normal course of dealing, unless the Company enter into formal written terms for supplies from group companies.
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
Helpdesks and contact details as well as process information available on http://www.aon.com/about-aon/supplier-information.jsp
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
AON GLOBAL OPERATIONS PLC is a leading provider of risk management, insurance, and reinsurance services, operating globally with a presence in over 120 countries. The company's sustainability program focuses on promoting sustainable practices in their operations and providing environmentally friendly solutions to clients.
AON's products and services include risk assessment and management, employee benefits consulting, insurance brokerage, and reinsurance solutions. They also offer specialized services such as cyber risk management, climate risk consulting, and human resources solutions.
The key people at AON GLOBAL OPERATIONS PLC include CEO Greg Case and Chairman of the Board, Lester B. Knight. They lead a team of over 50,000 employees worldwide, who are dedicated to providing innovative and sustainable solutions to their clients.
AON's registered office address is 122 Leadenhall Street, London, EC3V 4AN, United Kingdom. Their website address is www.aon.com, where customers can find more information about their products and services, as well as contact details for specific regions and business units. AON also has a strong presence on social media platforms such as LinkedIn, Twitter, and Facebook, where they share updates on their sustainability efforts and industry insights.