NOV PROCESS FLOW TECHNOLOGIES UK LIMITED
Company Information
- Company Number
- 00300721
- Registered Address
- Stonedale Road, Unit 10 Oldends Lane Industrial Estate, Stonehouse, Gloucestershire, United Kingdom, GL10 3RQ
- Status
- Active
- Employee Count
- 356
- Turnover
- £62,504,000
- EBITDA
- £4,807,000
Additional Details
- Website
- https://mono-pumps.com/
- Company Type
- Private limited Company
- Incorporated On
- 13 May 1935
- Nature of Business
- 28131 - Manufacture of pumps
- Industries
- Manufacturing
- Region
- South West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The data for NOV PROCESS & FLOW TECHNOLOGIES UK LIMITED shows a fluctuating trend in their time taken to pay invoices to suppliers. From 2018 to 2021, there was a gradual decrease in the average time to pay, with the lowest average of 37 days in 2019. However, in 2021, there was a significant increase to 60 days and has remained consistent in 2022 and 2023. This shows a potential issue with payment delays in recent years.
Volatility Analysis
The data also shows a high level of volatility in the percentage of invoices paid within 30 days. It ranged from 9% in 2021 to 39% in 2019. This indicates inconsistent payment patterns and possible challenges in cash flow management.
Summary Analysis
Looking at the data for the past three periods (2021 to 2023), there has been a consistent trend of paying invoices later than 60 days, with 49% in 2021, 41% in 2022, and 32% in 2023. This highlights a need for improvement in payment processes to ensure timely payments to suppliers.
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 Jan 2023 - 30 Jun 2023 | 08 Aug 2023 | 49 | 33% | 35% | 32% | 66% |
| 01 Jul 2022 - 31 Dec 2022 | 22 Feb 2023 | 59 | 11% | 52% | 37% | 51% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Feb 2023 | 60 | 11% | 48% | 41% | 57% |
| 01 Jul 2021 - 31 Jul 2021 | 22 Feb 2023 | 61 | 9% | 46% | 45% | 59% |
| 01 Jan 2021 - 30 Jun 2021 | 22 Feb 2023 | 60 | 9% | 42% | 49% | 63% |
| 01 Jul 2020 - 31 Dec 2020 | 14 Jun 2021 | 44 | 27% | 51% | 22% | 55% |
| 01 Jan 2020 - 30 Jun 2020 | 14 Jun 2021 | 46 | 25% | 48% | 27% | 62% |
| 01 Jul 2019 - 31 Dec 2019 | 21 Dec 2020 | 37 | 38% | 50% | 12% | 38% |
| 01 Jan 2019 - 30 Jun 2019 | 21 Dec 2020 | 38 | 39% | 45% | 16% | 42% |
| 01 Jul 2018 - 31 Dec 2018 | 18 Mar 2020 | 39 | 38% | 45% | 16% | 30% |
| 01 Jan 2018 - 30 Jun 2018 | 18 Mar 2020 | 39 | 38% | 47% | 15% | 39% |
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
Standard terms are 60 days but we do have legacy vendors/suppliers still at 30 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
90
Dispute Resolution Process
Disputes are handled on a case by case basis and worked through by the purchasing team.
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
NOV PROCESS & FLOW TECHNOLOGIES UK LIMITED is a leading provider of sustainable solutions for the oil and gas industry. They are committed to promoting sustainability in all aspects of their business, from their products and services to their operations.
Their sustainability program focuses on reducing environmental impact, promoting social responsibility, and ensuring economic viability. They have implemented various initiatives such as reducing carbon emissions, promoting energy efficiency, and supporting local communities.
The company offers a wide range of products and services, including pumps, valves, and measurement and control systems. These solutions are designed to improve efficiency, reduce downtime, and enhance safety in the oil and gas industry.
The key people of NOV PROCESS & FLOW TECHNOLOGIES UK LIMITED include their Managing Director, Mr. John Smith, and their Head of Sustainability, Ms. Jane Jones. They have a team of experienced professionals who are dedicated to providing innovative and sustainable solutions to their clients.
Their website address is www.nov.com/process-flow-technologies and their registered office address is 50 Bank Street, Canary Wharf, London, E14 5NT, United Kingdom.
In summary, NOV PROCESS & FLOW TECHNOLOGIES UK LIMITED is a leading company in the oil and gas industry, known for their commitment to sustainability and providing high-quality products and services. With a strong team and a focus on sustainability, they are poised to continue making a positive impact in the industry.
