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While adding a new supplier to the Cognizant-approved supplier database, the Global Procurement team establishes payment terms. The Payment Terms in the database dictate when payments to suppliers will be made. Generally, Cognizant employs a "Net 90" payment term, it means that the payment will be issued 90 days from the date that the suppliers invoice is received at the Accounts Payable address.

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ABOUT ACCOUNTS PAYABLE & SUPPLIER PAYMENTS

Account Payable : The Accounts Payable department of Cognizant is responsible for timely processing of invoices and issuing payments for companies, suppliers, individuals, employees, human subject payments and independent contractors. Payments are made against approved and reserved purchase orders, contracts/agreements or via exceptional approvals when a PO could not be issued.

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PURCHASE ORDER SUPPLIER PAYMENT TERMS

The Global Procurement team decides the payment terms when adding a new supplier to the Approved Supplier Database. Generally, Cognizant employs a Net 90 payment term, which means that the payment will be issued 90 days from the date when a supplier’s acceptable invoice document is received at the Accounts Payable office. Purchase orders sent to the supplier reflect these terms and conditions and they apply to all invoices received by Cognizant.

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SUPPLIER INVOICE SUBMISSION GUIDE

Cognizant’s Accounts Payable department is responsible for the timely processing of supplier invoices issued against approved purchase orders. Upon shipment of products or services performed as requested on the official purchase order, the supplier is required to submit all corresponding invoices in a timely manner directly to Accounts Payable (within 7 business days from shipment or service completion) as instructed on the purchase order.

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SELECT REGION WISE INVOICE SUBMISSION GUIDE

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