Cashflow. It’s the lifeline to every small business, none more so than the many external suppliers who help the NHS in the North West to provide vital services to the people it serves day in, day out.
Never has cashflow been as important as it is today in the face of a challenging economic climate.
We need your help. Together let’s put an end to the cashflow domino effect
Paying promptly is not just a question of good business. It benefits real people’s lives. For the knock-on effect of a business not being paid on time, especially in this climate of economic uncertainty, could be devastating. With no money coming in, wages may not be paid, employees may have to be laid off and businesses may go under. Leaving the misery of unemployment for countless families across the region.
Our Prompt Payment Initiative is a pledge to our suppliers, a demonstration of our commitment to pay them for their goods and services, fast. Not within weeks but within days, in single figures if possible, which would be going beyond our contractual terms.
Play your part in our Prompt Payment Initiative by adhering to a few simple processes, together we’ll put an end to the knock-on effects of delayed payment. With incalculable peace of mind and benefits to everyone here in the North West.
How you can help in our push for prompt payment
1. Make sure all goods are obtained using official order processes.
2. Where possible, shop from existing e-catalogues.
3. Make sure non-catalogue requisitions are completed correctly,
including price, codes and authorisation.
4. When goods are delivered directly to your department, follow your organisations goods receipt processes to confirm that you have received them. This might be via an electronic system or by completing and returning the goods receipt paperwork
5. Ensure the prompt return of any invoices sent to you for coding and authorisation.
For more details on Our Prompt Payment Initiative, email promptpayment@northwest.nhs.uk. Alternatively contact your Finance Department.
A few simple steps that could see the end of cashflow domino effect
The NHS in the North West is committed to a policy of prompt payment to all our suppliers. Our aim is not just to pay you in weeks, but within days, in single figures if at all possible.
We’re doing this because we realise the potentially devastating knock-on effects of late payment. Which not only deprives businesses of cash to buy stocks and pay wages, but can lead to lay offs, redundancies and even business closure.
By adhering to a few simple processes, together we’ll put an end to the knock-on effects of delayed payment. With incalculable peace of mind and benefits to everyone here in the North West.
How you can help in our push for prompt payment
1. Ensure your invoice clearly identifies all your contact details including company name, address, postcode, telephone number and email address if possible.
2. Always quote a valid purchase order number. Missing, incorrect or expired order numbers may mean your payment is delayed. Do not accept verbal orders.
3. All invoices should be dated correctly and have a valid and unique invoice number.
4. Provide all the information we need to help us to authorise your invoice.
This will include clearly specifying the product description, quantities, unit price, delivery charges and any VAT, if appropriate.
5. Clearly state billing address and shipping address where appropriate
6. Include your payment terms and the correct bank details for payment to
be made.
Unless you invoice correctly, the effects go on and on…
Together, let’s put an end to the knock-on effects of delayed payment