Thursday 30th November, 2023
Good Business Pays names the 290 companies to be awarded its prestigious Fast Payer Award 2023, which recognises those who have demonstrated the best payment performance to their suppliers over the past year.
This year sees the number of official Fast Payers increase by almost 25% on last year, with winners covering almost all industry sectors and regions of the UK. Yet only 57 of the 290 companies are signatories of the Prompt Payment Code.
Previous data from Good Business Pays showed that FTSE 350 companies are taking on average 37 days to pay their suppliers, with well-known companies such as Ab-Inbev, Coca Cola and Tata Steel amongst the slowest to settle invoices.
Terry Corby, CEO of Good Business Pays CIC commented: “Three years ago when I founded Good Business Pays, no-one thanked companies for doing the right thing and paying their small business suppliers fast. I’m delighted that, each year, the number of companies that qualify for our awards has grown and is now up almost 25% up over last year. Congratulations to all our 2023 winners.”
Pizza Hut UK was awarded Fast Payer status: Andy Platt, Chief Financial Officer at Pizza Hut UK said “We are delighted to have once again been recognised and accredited as a Fast Payer. Our suppliers are a critical part of our ecosystem, and paying on time is a fundamental principle of our relationships with them that are based upon trust, transparency and always ‘doing the right thing.“
Car-rental company Sixt was another winner: Anna Pinckernelle, Head of Marketing & PR for Sixt UK said “We are delighted to receive the Fast Payer award second year running, as it highlights our commitment to paying our suppliers promptly. We recognize that timely payments fortify trust, strengthen partnerships and enable successful long term collaboration”
See the full list of Fast Paying companies here.