Supporting suppliers: let’s keep doing the right thing!
Friday 15 January 2021
Last year UniCredit decided to schedule supplier payments well before the invoice due date. 2020 results have been more than satisfactory and we are ready to keep this successful initiative going
Last July, our Group Procurement and Cost Management Superstars shared some details with us about UniCredit’s faster payment initiative. Thanks to the team’s extraordinary efforts and close collaboration of all budget owners, we have managed to overcome this great challenge as well as to effectively support suppliers by providing more liquidity during the COVID-19 crisis. With 2020 now firmly behind us, we can finally have a glimpse at the results of the initiative so far, which show that we made a difference. UniCredit S.p.A. has made payments to over 11,000 suppliers worth approximately 600 million euros, with an average payment time of 15 days vis-à-vis standard contractual terms of 60 days. Behind such figures, there are stories of women and men facing these unprecedented times with dedication and hard work. Staying close to our people and supporting our communities is still paramount, and that is why UniCredit has decided to extend the initiative for a further 6 months, until 30 June 2021. We are proud to make our resources available to the professionals who trust us every day. As a Group, we will strive to ensure that no one is left behind, and that UniCredit is always #PartOfTheSolution!