WILLIAM HILL ORGANIZATION LIMITED

William Hill’s standard payment terms have historically been 30 days from receipt of invoice. Payment terms are agreed with all regular suppliers at the point of account application and set up. Most of our suppliers are on these payment terms. It should be noted that William Hill has commenced a process (as previously mentioned) of implementing revised standard payment terms of 60 days for newly agreed contracts and relationships with new suppliers. Further, in specific cases, for example where requested by smaller suppliers for cashflow purposes, or as a reflection of historically agreed terms with longer standing suppliers, we also agree non-standard payment terms. This may be by accepting our supplier’s terms or by mutual agreement of shorter, bespoke payment terms.

William Hill processes payments at least weekly and seeks to ensure that all authorised invoices are settled promptly, thereby minimising issues for suppliers. New system improvements are also anticipated to deliver supplier payment efficiencies and related reporting improvements across the Group over time. The Group has a small number of suppliers with either ‘due on receipt’ or seven day payment terms, and also uses the invoice date as the date of receipt by the business as invoices do not tend to be received directly by the finance team. These factors both negatively impact the percentage not paid within agreed terms statistic reported for this period.

William Hill works collaboratively to ensure that issues raised by suppliers are both minimised and resolved quickly where they arise. The supplier will liaise with their immediate business contact in the first instance, with support from the accounts payable team as necessary to resolve. Where required, urgent issues are escalated to the senior finance team for prompt attention and authority for any non-standard means of resolution.