We advised BEIS on the potential impacts of their proposed reporting requirements by larger companies for the timeliness of supplier payments.
The aim of the proposed new regulations was to improve the speed of payment of invoices for smaller suppliers in particular across every sector in the Country to improve performance and sustainability.
We worked with a statistically valid sample of organisations from all sectors and company sizes to assess the impacts on their businesses, quantify the impacts and report back to BEIS. We used a semi-structured questionnaire sent out to interviewees ahead of an in-depth telephone interview.
We researched, analysed and reported on the adequacy and appropriateness of processes, systems and facilities needed to enable large companies to report to BEIS on their payments to suppliers, as part of the proposed payment reporting regulations.
Our team carried out consultative interviews by telephone with senior finance people from 89 large companies across a range of categorised sectors including: construction; health and education; machinery, equipment, and products; wholesale, retail, food and beverages; and other services.
We recorded and used data gathered to analyse common themes and issues that needed to be considered by BEIS in finalising the relevant regulations. We presented our findings using a mixture of narrative, tables and charts using visualisation techniques, in our draft and final reports.