WN IT MANAGED SERVICES LIMITED exhibits a trend of extended payment cycles, with an average payment time of 37 days consistently falling outside standard 30-day terms. A substantial 61% of payments are late, primarily settling within the 31-60 day bracket (45%), indicating a clear trajectory towards slower payment processing. Only 38% of invoices are paid within the ideal 30-day window, establishing a pattern where prompt payment is not the norm.
The high percentage of late payments (61%) and the significant 17% exceeding 60 days indicate low payment reliability and predictability for suppliers. While a large segment falls into the 31-60 day range, the 17% over 60 days introduces a material risk of prolonged outstanding invoices, making cash flow forecasting challenging. Suppliers cannot consistently rely on timely payments, suggesting a higher level of payment uncertainty.
Suppliers should anticipate an average payment term of approximately 37 days and a high likelihood of payments being late when dealing with WN IT MANAGED SERVICES LIMITED. Key decision factors include assessing the impact of a predominantly 31-60 day payment cycle on their own cash flow, alongside the notable risk of payments extending beyond 60 days. To mitigate this risk, suppliers should consider negotiating shorter payment terms, implementing stricter credit limits, or requiring upfront deposits for larger projects.
| 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 Oct 2018 - 31 Dec 2018 | 13 May 2019 | 37 | 38% | 45% | 17% | 61% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 37 | 36% | 48% | 16% | 64% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
On 31 December 2018 Daisy IT Managed Services was hived up into Daisy Corporate Services Ltd, into which its payment performance is now consolidated. The Company’s standard contractual payment terms for all qualifying contracts are 60 days after end of month in which invoice dated, however, specific terms can be negotiated and agreed with a supplier. The agreed payment terms are reflected in our contractual documentation and accounting system. There were no changes to standard payment terms in the reporting period.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Invoices paid late percentage reduces to 42% taking account of payments paid on the next payment run following due date, which is a maximum of 15 days on a bi monthly payment cycle. There are number of reasons why remaining payments are delayed including for example suppliers sending invoices late, internal approvals, suppliers quoted invalid purchase order numbers, and disputes.
Maximum contractual payment period agreed
60
Supplier invoices are processed and passed to business approvers who can approve or reject an invoice. In the event of a dispute, it is logged with the supplier via email or on their portal wherever applicable. The supplier and the relevant Daisy authorised person work towards dispute resolution. If the dispute is ruled in favour of Daisy, a credit note may be issued by the supplier. In case the dispute remains unresolved within a reasonable period, the supplier can contact the relevant Daisy business contact or that from the Daisy Corporate Services Procurement team
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
WN IT MANAGED SERVICES LIMITED was a private limited company that specialised in providing IT managed services.
Registered as company number 01983540, the company was incorporated on 29 January 1986. Its registered office was located at Wavenet Group, Second Floor One Central Boulevard Central Boulevard, Blythe Valley Park, Shirley, Solihull, England, B90 8BG. WN IT MANAGED SERVICES LIMITED is currently dissolved.
In the UK market, companies specialising in IT managed services typically offer comprehensive support for an organisation's information technology infrastructure. This often encompasses services such as network monitoring, cybersecurity solutions, cloud management, data backup and recovery, and technical support to ensure operational efficiency and reliability for businesses.