ABACO SYSTEMS LIMITED
Company Information
- Company Number
- 02151516
- Registered Address
- 2 New Star Road, Leicester, Leicestershire, United Kingdom, LE4 9JD
- Status
- Active
- Employee Count
- 253
- Turnover
- £61,858,000
- EBITDA
- £9,194,000
Additional Details
- Website
- https://abaco.com
- Company Type
- Private limited Company
- Incorporated On
- 30 July 1987
- Nature of Business
- 26200 - Manufacture of computers and peripheral equipment
- Industries
- Coming Soon
- Region
- East Midlands
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 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 53 | 30% | 36% | 34% | 62% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 58 | 16% | 40% | 43% | 78% |
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
Our most frequently used standard term is 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
120
Dispute Resolution Process
ur Accounts Payable team can dispute or reject invoices when they are deemed to not be compliant. Reasons for disputes are subject to, but not conclusive of, incorrect VAT information, incorrect billing information, or if quantities are different to what has been received or approved at the PO stage. If an invoice goes into query then accounts payable will relay this to the applicable buyer to resolve with the supplier. There is a running query list that Accounts Payable review and publish internally to ensure that invoices are resolved accordingly. If an invoice is overdue for payment, then the supplier will be expected to reach to our accounts payable division, at accountspayableuk@abaco.com. This can be escalated to the Global Accounts Payable Manager. The accounts payable team, and all payment runs, are dealt with by the US parent company, Abaco Systems Inc.
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
ABACO SYSTEMS LIMITED is a leading provider of mission-critical embedded computing solutions for the defence, aerospace, and industrial markets. The company was founded in 1980 and is headquartered in Towcester, Northamptonshire, UK.
The company offers a wide range of products and services, including rugged embedded computing systems, graphics and video processing, and network communication solutions. These products are designed to meet the demanding needs of customers in the defence and aerospace industries, providing reliable and high-performance solutions for critical applications.
ABACO SYSTEMS LIMITED is committed to sustainability and has implemented various initiatives to reduce its environmental impact. This includes using sustainable materials in their products, implementing energy-efficient manufacturing processes, and promoting recycling and waste reduction.
The key people at ABACO SYSTEMS LIMITED include the CEO, Rich Sorelle, who has over 25 years of experience in the technology industry, and the Chief Operating Officer, David Jarvis, who has over 30 years of experience in the aerospace and defence sector.
The company's website, www.abaco.com, provides detailed information about their products and services, as well as news and events. The registered office address is 1450 Parkway, Solent Business Park, Whiteley, Hampshire, PO15 7AF, UK.
In summary, ABACO SYSTEMS LIMITED is a leading provider of embedded computing solutions with a strong focus on sustainability. With a team of experienced professionals and a commitment to innovation, the company continues to deliver cutting-edge products and services to its customers.
