CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Taulia shows support for best practice in supplier payments with sponsorship of Prompt Payment Code
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Taulia shows support for best practice in supplier payments with sponsorship of Prompt Payment Code PDF Print E-mail
Friday, 05 February 2016

Taulia, the supply chain finance and e-invoicing business, has signed an agreement to support the Chartered Institute of Credit Management (CICM) as a sponsor of the Government-backed Prompt Payment Code (PPC).


Sponsors of the Code help the CICM, which is a not for profit organisation, in hosting and maintaining the PPC website which is the critical front end for suppliers to validate which of their customers (or potential customers) have signed up to the PPC principles.

The Code, administered by the CICM on behalf of the Department for Business, Innovation and Skills, sets out principles for businesses to follow when dealing with and paying their suppliers. Around 1,800 businesses and public authorities have so far committed to these principles.

Philip King, Chief Executive of the CICM, said that Taulia is a natural sponsor: “E-invoicing and supply chain finance both have an important part to play in supporting prompt payment and better payment practice. We already have a good working relationship with Taulia in events and forums related to the fair treatment of suppliers, and I am delighted to see that relationship develop in direct support of the Code.”

Jon Keating European Managing Director at Taulia added: “We are focused on creating a ‘win win’ for all parties, and a key part of this is providing fair payment for suppliers, whilst also ensuring that larger buyers remain competitive. Sponsoring the UK’s Prompt Payment Code helps underpin this vision of a better trading relationship between buyers and suppliers, and one where both sides win.”

The PPC was recently strengthened to support tougher laws on the reporting of payment practices as part of the Small Business, Enterprise and Employment Bill. The new legislation will require the UK’s largest companies to provide information, including their standard payment terms and the proportion of invoices paid beyond them, and other Code signatories will also be asked to report on their payment performance.

The Prompt Payment Code Compliance Board, which includes representatives from trade bodies, will use this data to review the status of signatories to the Code and challenge those that either do not pay their suppliers promptly or adopt unfair payment practices.

The Board will also investigate challenges made against Code signatories by their suppliers and will have the power to remove those found to be in breach of it.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197