5 Day Payment Performance for NICE

Posted by Department of Health on 10/01/2012 1 comment
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A table showing percentage of supplier invoices paid within 5 days, 10 days, 30 days and over 30 days. Also includes total number and value of invoices.
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Supplier payment performance: April 2010 - December 2011 (25.5 KB) View on Zoho
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NICE 5 day payment target

Fri, 01/10/2010 - 08:02 — Anonymous

I note that NICE pays the vast majority of its invoices within 10 days and this seem like a pretty good performance.

It is difficult to see how public bodies can reasonably be expected to pay within 5 days given that the cash spends 3 days stting in the UK banking system! Perhaps the Government should consider why an electronically processed payment needs to take 3 days to clear through the banking system? The answer of course is that it doesn't. I wonder what happens to the interest earned over those 3 days? I think we all know.

Come on Vince! sort the banks out and everyone can get paid quicker.