Getting paid on time matters. And not just for cash flow. At Revo, we believe how conscientiously a business pays its partners speaks volumes about its values. That’s why we’re proud to share that we’ve achieved Gold status under the Fair Payment Code – the highest standard for responsible payment practices in the UK.
What is the Fair Payment Code?
The Fair Payment Code (FPC) is run by the Office of the Small Business Commissioner, on behalf of the Department for Business and Trade. It was introduced in December 2024 and sets clear standards for how organisations pay their suppliers, rewarding businesses that consistently comply with fair payment principles.
Under the initiative, there are three award levels:
- Bronze – paying at least 95% of UK invoices within 60 days
- Silver – paying at least 95% of UK invoices within 60 days, including 95% of small business invoices within 30 days
- Gold – paying at least 95% of all UK invoices within 30 days
So far, 469 businesses (as of the 7th of January 2025) have been granted an award through the initiative. Revo is one of 238 businesses achieving ‘Gold’ status, which means over 95% of our UK suppliers are paid within 30 days.
Challenging the norm
Revo’s Gold Fair Payment Code status reflects our commitment to prompt payment and to working with suppliers in a clear, fair and collaborative manner. But why is this important?
However strong a product or service might be, working with a company that drags its feet on payment quickly undermines trust and creates stress in business relationships. Yet today, late payment has become so normalised that it’s often treated as an unavoidable part of doing business. Payment terms are regularly extended, leaving suppliers to absorb the impact while larger organisations quietly protect their own cash position.
The consequences are significant. Late payments are one of the biggest pressures facing businesses. In the UK alone, they cost the economy almost £11 billion each year and 14,000 businesses close annually as a result.
At Revo, we choose not to follow the norm.
Why fair payment is important – to us, our suppliers and our customers
In our role as an ITSM and ESM partner to businesses, we know that smooth, efficient implementations depend on a supply chain that’s fully resourced and able to meet project demands. Paying promptly supports a fairer, more collaborative way of working, benefiting everyone from our technology partners through to the customers we serve.
“Fair payment is a reflection of how we work and our values as a company,” says Simon Martin, CEO of Revo. “We understand that when payments are delayed it creates significant challenges for UK suppliers. Achieving Gold status assures our partners that we will pay promptly, treat everyone fairly and operate with transparency.”
This commitment also benefits our customers. Importantly, it allows us to work with the best suppliers and deliver reliable, uninterrupted services. Therefore, we consider fair payment as a crucial way we can ensure consistent quality and long-term value for the organisations we work with.
It also means we lead by example. By being disciplined with our UK suppliers, we’re supporting a culture of fairness and accountability that extends across all our business relationships. This includes expecting prompt payment from our own customers.
“It reinforces the kind of relationships we want to build with our customers – open, responsible and built on mutual respect,” adds Simon. “At the end of the day, paying fairly is about enabling everyone in our supply chain to succeed.”
It’s how we do business. Everyday.
This latest achievement sits alongside Revo’s wider commitment to achieving quality standards, including ISO 14001 for Environmental Management and ISO 9001 for Quality Management.
But at Revo, fair payment is about more than another award and a tick in the compliance box.
“We’re proud of our Gold Fair Payment Code status not because it looks good in proposals or as a badge on our website but because it reflects how we operate every day,” adds Simon. “It’s independent recognition that paying fairly and promptly is embedded into our culture, supporting our commitment to be a trusted partner to both our technology partners and customers.”
