Procedure for monitoring supplier payment punctuality
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- Procedure for monitoring supplier payment punctuality
This is a translation of the Italian “Procedura di monitoraggio della puntualità dei pagamenti ai fornitori”. In case of any discrepancy, the Italian version prevails.
1. Purpose and objectives
This procedure sets out the process Infordata Sistemi S.r.l. follows to monitor and ensure that suppliers are paid on time, as part of the company’s ESG (Environmental, Social, Governance) commitment and consistently with the principles of its Code of Ethics.
The main objectives are:
a) to meet the payment deadlines agreed in contract;
b) to monitor payment times systematically and identify any delays;
c) to promote transparent and fair relationships along the supply chain;
d) to ensure compliance with the legislation in force on payment terms in commercial transactions (Italian Legislative Decree 231/2002, as amended).
2. Scope
The procedure applies to all payments to suppliers of goods and services, whatever the amount and whatever the type of contract.
3. Monitoring tools
3.1 Infordata uses its own SM management platform (sm.infordata.it) as the central tool for recording, tracking and monitoring payments. The platform makes it possible to:
a) record supplier invoices and their due dates;
b) generate automatic alerts as payment deadlines approach;
c) track the status of every payment (recorded, authorised, executed);
d) produce periodic reports on average payment times and on the punctuality index.
3.2 The platform’s management-control module, integrated with the accounting system (Sonar Finance), reconciles invoices received against payments made automatically, giving the process full traceability.
4. The process
Payment management runs through the following stages:
4.1 Receipt and recording: the supplier invoice is recorded in the SM platform within 3 working days of receipt, with its due date.
4.2 Verification and approval: the manager of the relevant area checks that the invoice matches the order and/or the contract. Approval for payment is tracked in the system.
4.3 Payment: the administration office issues payment within the contractual terms, and in any case within the limits set by Italian Legislative Decree 231/2002 (30 days from receipt of the invoice, unless otherwise agreed).
4.4 Recording and reconciliation: the payment is recorded in the SM platform and reconciled automatically against the corresponding invoice.
5. Performance indicators (KPIs)
To assess how well the process works, Infordata monitors the following indicators:
a) Average payment time (supplier DSO): the average number of days between the date an invoice is received and the date it is paid;
b) Punctuality index: the percentage of invoices paid by the contractual due date;
c) Number and value of overdue unpaid invoices: monitored monthly;
d) Quarterly trend: analysis of how the KPIs move over time.
The KPIs are available in real time on the SM platform through dedicated dashboards and are reviewed quarterly by the Management.
6. Handling exceptions
6.1 If a payment is late, the SM platform generates an automatic notification to the administration manager.
6.2 For any delay of more than 15 days beyond the due date, an escalation procedure is triggered: the supplier is contacted and the causes of the delay are identified.
6.3 The causes of delays are documented and analysed so that corrective actions can be put in place.
7. Reporting and transparency
7.1 Every six months the Management produces a summary report on payment times, including the KPIs set out in section 5, for inclusion in the company’s ESG documentation.
7.2 Aggregate figures on average payment times may be included in the Impact Report of the Società Benefit.
8. Responsibilities
8.1 The administration office is responsible for making payments and for the day-to-day running of the process.
8.2 The Management is responsible for overall supervision and for the periodic review of this procedure.
9. Review
This procedure is reviewed annually, or whenever there are significant regulatory or organisational changes.