Page 111 - EBA 2015.1815 Annual report 2014 web 2

Basic HTML Version

2 0 1 4 a n n u a l r e p o r t
109
Payment times on supplier invoices
In mid-2014, the EBA started to implement
a policy to maximise its use of credit terms
available on supplier invoices, typically 30 days
from receipt of invoice. This resulted in pay-
ment times being pushed out to 30 days, as
can be seen in the chart below. The small peak
at 15 days dates back to the period prior to the
implementation of this policy.
Late payment interest
In 2014, the EBA generated no late payment
interest.
Figure 29: Payment delay on supplier invoices 2014
0 %
5 %
10 %
15 %
20 %
25 %
30 %
35 %
40 %
5
10
15
20
25
30
35
40
45
50
55
60
+61
2 %
11 %
16 %
11 %
18 %
38 %
1 %
1 %
1 %
0 %
0 %
0 %
0 %
Payements
1,286
on time
97 %
in delay
3 %
2014 %
% of payments made in 5-day bands
Figure 30: Payment days for staff missions 2014
0 %
10 %
20 %
30 %
40 %
50 %
60 %
70 %
80 %
5
10
15
20
25
30
68 %
10 %
11 %
7 %
2 %
2 %
2014 %
% of payments made
626
88
103
68
17
21
number of days to process claim, in blocks of 5 days
Payment times for staff reimbursements
The number of days for payment is based on
the difference between the submission of the
claim to Finance and the bank value date of
the payment to the staff member. The chart
shows the percentage of payments by band of
5 days and the number of payments processed
in each band.