Industry ranking
The average time taken for EXELA TECHNOLOGIES LIMITED to pay invoices has been decreasing since the start of 2019, with a slight increase in the last two periods. The percentage of invoices paid within 30 days has also been increasing since 2019, with a dip in the last period. However, the percentage of invoices paid later than 60 days has been consistently high throughout all periods.
The average time taken to pay invoices has fluctuated between 40 and 71 days, with the largest change occurring between the first and second periods. The percentage of invoices paid within 30 days has fluctuated between 26% and 53%, with the largest change occurring between the second and third periods. The percentage of invoices paid later than 60 days has fluctuated between 22% and 48%, with the largest change occurring between the third and fourth periods.
From the available data, it can be seen that EXELA TECHNOLOGIES LIMITED has been consistently taking longer to pay invoices since the beginning of 2019. However, there has been a slight improvement in the last two periods. The percentage of invoices paid within 30 days has also been increasing, but there was a drop in the last period. The company's worst period for paying invoices was the last period (2021-07-01 to 2021-12-31) where 48% of invoices were paid later than 60 days. This is a significant increase compared to the previous period (2021-01-01 to 2021-06-30) where 32% of invoices were paid later than 60 days.
| 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 2021 - 31 Dec 2021 | 29 Jan 2022 | 49 | 53% | 22% | 25% | 70% |
| 01 Jan 2021 - 30 Jun 2021 | 01 Aug 2021 | 51 | 38% | 30% | 32% | 79% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 63 | 42% | 25% | 33% | 79% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 67 | 38% | 26% | 37% | 85% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 71 | 32% | 20% | 48% | 87% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 63 | 26% | 28% | 45% | 93% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 52 | 39% | 26% | 35% | 78% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 40 | 45% | 33% | 22% | 79% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Any dispute or complaint is first referred to Purchasing Manager - Elaine Matthews. 2nd level escalation is done to Finance VP.(Ajay Surana). Usual time scale is 48 hours
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.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
EXELA TECHNOLOGIES LIMITED is an active private limited company, incorporated on 27 October 1976, based in the South East region. Registered business activity: Business and domestic software development.
From Companies House records.