Ranked in 5 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time to pay for RAPISCAN SYSTEMS LIMITED has been fluctuating between 51 to 65 days over the past three years. There was a slight decrease in 2020, but it has since increased again in 2021. The percentage of invoices paid within 30 days has also been fluctuating, with a high of 33% in 2020 and a low of 14% in the same year. Overall, there is a trend of longer payment times and a decrease in the percentage of invoices paid within 30 days.
The volatility in the average time to pay has been relatively stable, ranging between 53 to 65 days. However, the volatility in the percentage of invoices paid within 30 days has been more significant, with a high of 33% in 2020 and a low of 14% in the same year. This indicates that the company's payment practices may vary significantly over time.
From 2017 to 2021, RAPISCAN SYSTEMS LIMITED has had an average time to pay ranging from 51 to 65 days. The percentage of invoices paid within 30 days has fluctuated between 14% to 33%, with a decrease in recent years. The company has consistently paid the majority of their invoices within 60 days, with a high of 35% in 2019 and a low of 24% in 2020. However, the percentage of invoices not paid within agreed terms has also been consistently high, ranging from 69% to 92%.
| 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 2024 - 30 Jun 2024 | 11 Mar 2025 | 61 | 14% | 35% | 51% | 81% |
| 01 Jul 2023 - 31 Dec 2023 | 13 Feb 2025 | 57 | 16% | 39% | 45% | 75% |
| 01 Jan 2023 - 30 Jun 2023 | 21 Jul 2023 | 62 | 17% | 32% | 51% | 77% |
| 01 Jul 2020 - 30 Jun 2021 | 18 Aug 2021 | 56 | 23% | 45% | 32% | 84% |
| 01 Jul 2020 - 31 Dec 2020 | 22 Jan 2021 | 53 | 33% | 44% | 24% | 69% |
| 01 Jan 2020 - 30 Jun 2020 | 19 Aug 2020 | 65 | 14% | 43% | 43% | 92% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 57 | 19% | 46% | 35% | 88% |
| 01 Jan 2019 - 30 Jun 2019 | 22 Aug 2019 | 56 | 18% | 45% | 37% | 87% |
| 01 Jul 2018 - 31 Dec 2018 | 15 Jan 2019 | 55 | 17% | 48% | 35% | 89% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 51 | 25% | 48% | 27% | 82% |
| 01 Jul 2017 - 31 Dec 2017 | 01 Feb 2018 | 56 | 18% | 50% | 32% | 91% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Terms generally vary with the amount of time it takes for the goods to be delivered from the suppliers' facilities - normally between 30 and 90 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
180
The supplier contacts the company whereupon Accounts Payable staff will follow up the enquiry and if the issue cannot be resolved, they will contact the supplier explaining the circumstances. If necessary, senior managers will contact the supplier to negotiate a resolution.
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
Rapiscan Systems Limited is the UK entity within the Rapiscan Systems group, part of OSI Systems, with a European operational base in Surrey alongside its registered London office. The wider group manufactures security screening and threat detection equipment, including baggage, parcel, cargo, vehicle and people screening systems, hold baggage screening, trace detection and radiation detection products. These are used across aviation, critical infrastructure, event security, law enforcement, customs and border protection, and ports markets. The group states it has installed over 100,000 systems and supplies more than 170 countries, employing over 2,000 people globally. This UK company forms part of that international security screening manufacturing and supply operation.
Generated from the company's website and Companies House records. Sources: rapiscansystems.com · rapiscansystems.com