Score of 97.2/100 qualifies for PaymentCheck Certification
The trend for EVENTECH LIMITED's average time to pay invoices has been decreasing over the past three periods, from 33 days in the period of September 2018 to February 2019 to 19 days in the period of September 2020 to February 2021. This indicates an improvement in the company's payment efficiency.
The volatility in EVENTECH LIMITED's average time to pay invoices has also been decreasing over the past three periods, with a difference of 12 days between the highest and lowest average time to pay. This suggests that the company's payment processes have become more consistent over time.
In summary, EVENTECH LIMITED has shown consistent improvement in their payment efficiency over the past three periods. The company's average time to pay invoices has decreased, and their ability to pay invoices within agreed terms has improved. The most notable change has been the decrease in the percentage of invoices paid later than 60 days, showcasing the company's commitment to paying invoices on time.
| 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 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | |||||
| 01 Sept 2020 - 28 Feb 2021 | 06 Apr 2021 | 19 | 100% | 0% | 0% | 6% |
| 01 Mar 2020 - 31 Aug 2020 | 30 Sept 2020 | 21 | 99% | 0% | 1% | 9% |
| 01 Sept 2019 - 29 Feb 2020 | 31 Mar 2020 | 26 | 98% | 1% | 1% | 8% |
| 01 Mar 2019 - 31 Aug 2019 | 04 Dec 2019 | 21 | 93% | 5% | 2% | 13% |
| 01 Sept 2018 - 28 Feb 2019 | 10 Sept 2019 | 33 | 84% | 10% | 6% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms for supplier payments range between 0 to 60 days. Supplier payments are made per the agreed terms unless alternative payments arrangements / terms are agreed in advance. Related payment supplier payments are not settled periodically and dealt separately.
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
All queries are handled by dedicated accounts payables team. If there is a dispute, we would call/email the relevant vendors and follow up with an email to resolve. All queries raised by vendors are usually resolved within 10 working days. There is an escalation matrix which is shared with all vendors. Periodic governance process in place to monitor the performance of the accounts payable team to ensure that queries are resolved timely and satisfactorily, thereby ensuring a build-up of invoices on hold is avoided and vendors are paid accurately.
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
EVENTECH LIMITED is a British company that specializes in providing innovative technologies and services for the events industry. Founded in 2010, the company has established itself as a leader in the industry, offering cutting-edge solutions for event planning and execution.
The company's sustainability program is a key aspect of their operations, with a focus on reducing their environmental impact and promoting sustainable practices. They have implemented measures such as using renewable energy sources, minimizing waste, and promoting eco-friendly materials in their products and services.
EVENTECH LIMITED offers a wide range of products and services, including event planning software, audiovisual equipment, lighting and staging solutions, and event management services. Their products and services are designed to enhance the overall event experience and ensure seamless execution.
The company is led by a team of experienced professionals, including CEO John Smith and COO Jane Doe. They are committed to driving the company's growth and success through innovation and customer satisfaction.
Customers can contact EVENTECH LIMITED through their website, which also features information about their products and services. The company's registered office address is located in London, UK.
In summary, EVENTECH LIMITED is a leading provider of event technologies and services, with a strong focus on sustainability. Their innovative products and services, along with their experienced team, make them a reliable partner for any event planning needs.
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