Prompt Payment Practices
Prompt payment through our supply chain is important to World Vision UK, as this ensures effective funding to our programmes to meet our objective of delivering improvements to the lives of the children and their families that we serve.
We report semi-annually, to the Department of Business, Energy and Industrial Strategy, on our performance at paying our suppliers as processed through our Accounts Payable system. This reporting has shown continuous improvement over the last 18 months.
In order to enhance it further and achieve 95% of suppliers paid within 60 days (from our current level of 90%), we have implemented an action plan to improve our payment processing times through a combination of staff training, system automation and process improvement.
Our payment record on our supply chain for delivery contracts is closely managed and is reporting 100% paid within 30 days for the 6 month period October 2022- March 2023.