TT ELECTRONICS IOT SOLUTIONS LIMITED
Company Information
- Company Number
- 00236394
- Registered Address
- Fourth Floor, St Andrews House, West Street, Woking, England, GU21 6EB
- Status
- Active
- Employee Count
- 130
- Turnover
- £23,214,000
- EBITDA
- £59,568,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 14 January 1929
- Nature of Business
- 27900 - Manufacture of other electrical equipment
- Industries
- Hardware
- Region
- North East
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
TT ELECTRONICS IOT SOLUTIONS LIMITED has shown a trend of decreasing average time to pay invoices over the past three periods. In the first period, the average time to pay was 90 days, which decreased to 98 days in the second period and further decreased to 85 days in the third period.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively stable, with a slight increase from 5% in the first period to 11% in the third period. The volatility in the percentage of invoices paid between 31 and 60 days has also been relatively stable, with a slight decrease from 39% in the first period to 36% in the third period. However, there has been significant volatility in the percentage of invoices paid later than 60 days, with a high of 65% in the second period and a low of 53% in the third period.
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 22 Jan 2024 | 98 | 4% | 31% | 65% | 44% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 90 | 5% | 39% | 56% | 49% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
60 days
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
225
Dispute Resolution Process
TT Electronics is committed to a proactive relationship with its suppliers and endeavours to resolve any disputes in a timely manner. Initial notification of any issues should be with the TT Electronics AP team who will then work with other TT Electronics teams such as purchasing or goods inwards to ensure a swift resolution.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
TT Electronics IoT Solutions Limited is a technology company that specializes in providing innovative solutions for the Internet of Things (IoT) market. Their main focus is on creating sustainable and environmentally-friendly products and services.
The company's sustainability program includes initiatives such as reducing their carbon footprint, minimizing waste, and promoting recycling. They also prioritize ethical and responsible sourcing of materials and work closely with their suppliers to ensure sustainability throughout their supply chain.
TT Electronics IoT Solutions Limited offers a wide range of products and services, including wireless communication modules, sensors, and embedded systems for various industries such as healthcare, automotive, and industrial automation. Their products are designed to improve efficiency, reduce costs, and enhance connectivity for their customers.
The key people at TT Electronics IoT Solutions Limited are CEO Richard Tyson and COO Mark Hoad. They lead a team of highly skilled professionals dedicated to delivering cutting-edge solutions and exceptional customer service.
For more information on their products and services, interested parties can visit their website at https://ttelectronics.com/iot-solutions/. The company's registered office address is located at 3rd Floor, 2 Savoy Court, Strand, London WC2R 0EZ, United Kingdom.
