Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
CONVATEC GROUP PLC generally processes payments within an average of 27 days, with 74% of invoices settled within 30 days, indicating a relatively swift payment speed for the majority. However, a significant trend is that 62% of all payments are categorized as late, suggesting a consistent inability to meet contractual payment deadlines despite the quicker average. This trajectory implies that while payment often occurs within a month, adherence to specified terms is frequently missed.
The payment profile exhibits moderate volatility, with 22% of invoices extending to 31-60 days and a notable 4% exceeding 60 days, indicating potential for unpredictable longer delays. The high percentage of late payments (62%) signifies a lack of reliability in consistently meeting agreed-upon terms, introducing uncertainty into cash flow forecasting for suppliers. This creates a risk of frequent, though not always extreme, deviations from expected payment dates, impacting financial planning.
Suppliers can generally expect payment within 30 days for most invoices; however, the high incidence of late payments (62%) requires careful consideration of cash flow implications. Key decision factors include the supplier's capacity to absorb frequent, albeit sometimes minor, delays beyond contractual terms. To mitigate risk, suppliers should consider requesting shorter payment terms, implementing upfront deposits for substantial orders, or closely monitoring payment patterns for individual transactions.
| 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 2025 - 30 Jun 2025 | 30 Jul 2025 | 26 | 71% | 26% | 3% | 65% |
| 01 Jul 2024 - 31 Dec 2024 | 28 Jan 2025 | 27 | 74% | 22% | 4% | 62% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 27 | 78% | 18% | 4% | 55% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Company’s standard terms are 60 days, unless agreed otherwise. The Company makes payment via BACS, twice weekly of all cleared invoices due for payment that working week.
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
90
Queries and follow-ups should be sent to AccountsPayable@convatec.com. If you fail to receive an adequate response, please contact the individual who engaged for the goods or services. For further details see http://supplierlink.convatec.com/
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
Convatec Group Plc, incorporated in 2016 and registered in London, is the parent company of the Convatec group. The group describes itself as a global medical products and technologies business with market positions in advanced wound care, ostomy care, continence care and infusion care. Its products include stoma and ostomy care items, wound dressings using Hydrofiber Technology, intermittent catheters for continence care, and infusion sets for insulin and other treatments. The group also runs patient support programmes, such as the me+ ostomy support service, offering access to specialist nurses and educational resources. As the group's registered UK entity, Convatec Group Plc itself functions as the holding company overseeing these medical technology operations rather than manufacturing directly.
Generated from the company's website and Companies House records. Sources: convatec.com