INNOVATIVE TECHNOLOGY LIMITED
Company Information
- Company Number
- 01954947
- Registered Address
- Innovative Business Park, Derker Street, Oldham, Lancashire, OL1 4EQ
- Status
- Active
- Employee Count
- 200
- Turnover
- £64,266,000
- EBITDA
- £11,507,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 5 November 1985
- Nature of Business
- 72190 - Other research and experimental development on natural sciences and engineering
- Industries
- Professional Services
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
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 2019 - 30 Jun 2019 | 23 Jul 2019 | 36 | 44% | 49% | 7% | 21% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 36 | 45% | 45% | 10% | 18% |
| 01 Jan 2018 - 30 Jun 2018 | 20 Jul 2018 | 39 | 38% | 52% | 10% | 26% |
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
30 days net
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
150
Dispute Resolution Process
We strive to resolve queries on a timely basis. In respect of suppliers, goods received are inspected and receipted on site with any issues arising being promptly communicated to the supplier via telephone or email.
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.
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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?
❌
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
Innovative Technology Limited is a UK-based company that specializes in the design, development, and manufacture of cash handling and payment solutions. The company was founded in 1992 and has since become a leader in its industry, with a global presence in over 26 countries.
The company's sustainability program focuses on reducing its environmental impact and promoting sustainable practices throughout its operations. This includes implementing energy-efficient measures in its facilities, using sustainable materials in its products, and actively promoting recycling and waste reduction.
Innovative Technology Limited offers a wide range of products and services, including cash validators, recyclers, and dispensers, as well as payment systems for various industries such as gaming, retail, and transportation. Their products are known for their reliability, security, and efficiency, and are constantly evolving to meet the changing needs of their customers.
The company is led by a team of experienced key people, including founder and CEO David Bellis MBE, who has over 30 years of experience in the cash handling industry. Other key members include the Managing Director, Group Finance Director, and Sales Director, all of whom bring a wealth of knowledge and expertise to the company.
For more information on Innovative Technology Limited, their products and services, and their sustainability program, you can visit their website at www.innovative-technology.co.uk. Their registered office address is Innovative Business Park, Derker Street, Oldham, OL1 4EQ, United Kingdom.
