Industry ranking
The average time taken by LOWELL GROUP SHARED SERVICES LIMITED to pay invoices has decreased over the last three periods, from 50 days in the first period to 45 days in the third period. This indicates that the company is making efforts to pay invoices more promptly.
The volatility of the company's invoice payment time has decreased over the last three periods. This can be seen in the decrease in the percentage of invoices paid later than 60 days, from 23% in the first period to 14% in the third period. This shows that the company is becoming more consistent in its invoice payment process.
In the first period (Jan 2022 - Jun 2022), LOWELL GROUP SHARED SERVICES LIMITED took an average of 50 days to pay invoices, with 55% of invoices paid within 30 days, 21% paid between 31 and 60 days, and 23% paid later than 60 days. In the second period (Jul 2022 - Dec 2022), the average time taken to pay invoices decreased to 49 days, with 58% of invoices paid within 30 days, 21% paid between 31 and 60 days, and 21% paid later than 60 days. In the third period (Jan 2023 - Jun 2023), the average time taken to pay invoices further decreased to 45 days, with 68% of invoices paid within 30 days, 18% paid between 31 and 60 days, and 14% paid later than 60 days.
| 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 2023 - 30 Jun 2023 | 12 Oct 2023 | 45 | 68% | 18% | 14% | 35% |
| 01 Jul 2022 - 31 Dec 2022 | 12 Oct 2023 | 49 | 58% | 21% | 21% | 47% |
| 01 Jan 2022 - 30 Jun 2022 | 12 Oct 2023 | 50 | 55% | 21% | 23% | 57% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
"Company standard payment terms = 30 days Anything outside this must be approved during contract negotiations and the supplier must have a valid business need."
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
60
"Disputes policy All disputes are raised and tracked through the AP department. These are then raised with the business owner of the supplier and payments will be kept on hold until any dispute is confirmed as settled by the business owner."
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
This entity, registered under SIC code 64205 as a financial services holding/shared-services company, is part of the wider Lowell Group. The group describes itself as Europe's leading credit management company, operating in the UK, DACH and Nordic regions, buying and servicing portfolios of consumer debt on its own behalf and for clients. Group activities include agreeing repayment plans with customers, providing legal collections through an affiliated law firm, offering invoice and payment services, and business process outsourcing for sectors such as retail, financial services, insurance, telecommunications and utilities. This particular company itself provides shared services within the group structure, supporting the wider Lowell Group's credit management operations rather than trading directly with external clients or customers.
Generated from the company's website and Companies House records. Sources: lowell.com · lowell.com