SPECIALIST HOLIDAYS (TRAVEL) LIMITED

Creditors are paid weekly with payment runs
paying invoices approved and due up to the
payment date. This results in suppliers being paid
for invoices both before and after the 30-60 days
terms. Specialist Holidays (Travel) Limited
standard payment terms are 30-60 days from
receipt of invoice (not date of invoice) on normal
qualifying contracts unless specifically agreed or
net monthly. We have several suppliers who offer
differing payment terms and we do our best to
accommodate these for UK and non UK suppliers. Creditors send invoices by email
throughout the month. The business handles
invoices through OCR and workflow technology
with a high proportion of invoices being matched
to purchase orders or being approved by
managers using online approval workflow and
authorisation matrices.

The Company is committed to dealing with its suppliers in a fair, honest and professional manner and as close to contractual terms as we possibly can. We do our utmost to resolve queries quickly and to everyone’s satisfaction. It is important to us that there is no negative impact on our customers experience and our supplier relationships are essential in delivering the first class services our customers expect. A close working relationship and good payment performance is paramount in our business.

Suppliers generally email their invoices to dedicated email addresses where they are scanned by our OCR system for processing and matching to purchase orders. The Accounts Payable Executives and Team Leader work closely with our suppliers and departments to understand why an invoice is not approved or not yet paid. Every effort is made to ensure the invoice is included in the next payment run.
If a cost of sale invoice exceeds the expected cost based on contract rates, a deduction advice is raised and sent to the supplier by email before the invoice is paid. If the supplier disagrees with the calculation this will generally be investigated and resolved before the invoice is paid.