The average time taken for JOHNSON CONTROLS HITACHI AIR CONDITIONING EUROPE UK BRANCH to pay invoices has been decreasing over the past three periods, from 46 days in Oct 2017-Mar 2018 to 38.2 days in Oct 2018-Mar 2019.
The volatility in the percentage of invoices paid within 30 days has been low, with only a 4.2% decrease from Oct 2017-Mar 2018 to Oct 2018-Mar 2019. However, there has been a significant decrease in the percentage of invoices paid later than 60 days, from 23% in Oct 2017-Mar 2018 to 12.2% in Oct 2018-Mar 2019. This indicates a more consistent and timely payment pattern.
JOHNSON CONTROLS HITACHI AIR CONDITIONING EUROPE UK BRANCH has shown positive improvements in their payment process over the past three periods. The average time taken to pay invoices has decreased by 7.8% and the percentage of invoices paid within 30 days has increased by 8%. The company has also reduced the percentage of invoices paid later than 60 days by 10.8%. Overall, this demonstrates a more efficient and timely payment process.
| 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 Oct 2017 - 31 Mar 2018 | 09 May 2018 | 46 | 70% | 7% | 23% | 40% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days end of month
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
Suppliers are encouraged to contact the Company accounts Payables team in order to discuss queries. If further discussion is required the Procurement Department will be responsible for resolution. Further elevation according to the Company ‘Delegation of Authority’ is normal procedure.
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
JOHNSON CONTROLS HITACHI AIR CONDITIONING EUROPE UK BRANCH is a open uk establishment - activities in relation to air conditioning.
From Companies House records.