The average time taken for OPENBET LIMITED to pay invoices has fluctuated over the past three periods, with a decrease from 33 days in the first period to 28 days in the second period, followed by an increase to 44 days in the third period. The most recent period has shown a decrease to 27 days, indicating an improvement in timely payments.
The percentage of invoices paid within 30 days has varied the most over the past three periods, with a decrease from 68% in the first period to 30% in the third period, followed by an increase to 30% in the most recent period. This indicates a high level of volatility in timely payments. The percentage of invoices paid between 31 and 60 days has also fluctuated, with a decrease from 23% in the first period to 43% in the third period, followed by a decrease to 35% in the most recent period.
From the data provided, OPENBET LIMITED has shown a decrease in the average time taken to pay invoices from 33 days in the first period to 27 days in the most recent period. However, there has been a decrease in the percentage of invoices paid within 30 days, indicating a need for improvement in timely payments. The worst period for OPENBET LIMITED in terms of invoices paid later than 60 days was in the second period, with 27% of invoices paid late. The company has also shown a decrease in the percentage of invoices paid within agreed terms, from 32% in the first period to 17% in the most recent period.
| 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 2022 - 30 Jun 2022 | 01 Aug 2022 | 32 | 31% | 30% | 39% | 15% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Mar 2022 | 27 | 30% | 35% | 35% | 17% |
| 01 Jan 2020 - 30 Jun 2020 | 12 Nov 2020 | 44 | 30% | 43% | 27% | 15% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Dec 2019 | 28 | 49% | 30% | 21% | 13% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Dec 2019 | 28 | 53% | 23% | 24% | 13% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Dec 2019 | 33 | 68% | 21% | 11% | 32% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Shortest standard payment terms used = immediate Longest standard payment terms used = 60days
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
60
It will be handled by the accounts payable department
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
OpenBet Limited is a UK company registered for business and domestic software development, information technology consultancy and other IT services, classified under application software. It was incorporated in 1995 as Rapidfirst Limited, renamed Orbis Technology Limited in 1996, and took its current name in 2010. Filings show it operates as a subsidiary, filing audit exemption accounts alongside a parent company's consolidated accounts, with directors and a secretary linked to Scientific Games Corporation in the United States, indicating it forms part of a wider international group while functioning as its UK operating entity for software development and IT services.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk