Ranked in 3 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 90.6/100 qualifies for PaymentCheck Certification
The average time taken for OCS SECURITY LIMITED to pay invoices has been fluctuating over the past three periods. In 2018-2019, the average time was 62 days, then increased to 87 days in 2019-2020, and decreased to 67 days in 2020-2021. However, in 2022-2023, there is a significant decrease in the average time to only 19 days.
The percentage of invoices paid within 30 days has been relatively stable over the past three periods, with a slight increase from 6% in 2018-2019 to 9% in 2021-2022. The percentage of invoices paid between 31 and 60 days has been fluctuating, with the highest percentage of 56% in 2021-2022. The percentage of invoices paid later than 60 days has also been fluctuating, with the highest percentage of 69% in 2019-2020. Overall, there has been some volatility in the company's payment patterns.
Between 2018-2021, there has been an improvement in OCS SECURITY LIMITED's payment practices, with the average time taken to pay invoices decreasing from 58 days to 62 days. However, there has been a significant improvement in 2022-2023, with the average time decreasing to only 14 days. The percentage of invoices paid within 30 days has also increased from 6% to 9%, indicating that the company is making more timely payments. However, the percentage of invoices paid later than 60 days has been consistently high, with the highest percentage of 69% in 2019-2020. This is an area that the company needs to address to improve its overall payment practices.
| 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 2024 - 31 Jul 2024 | 30 Jan 2025 | 19 | 88% | 9% | 3% | 6% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 22 | 86% | 14% | 0% | 5% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 15 | 90% | 8% | 1% | 1% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 23 | 72% | 23% | 4% | 17% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 21 | 78% | 18% | 2% | 7% |
| 01 Jan 2022 - 30 Jun 2022 | 08 Jul 2022 | 14 | 93% | 5% | 2% | 6% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 62 | 8% | 56% | 36% | 87% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 70 | 9% | 55% | 36% | 91% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 67 | 7% | 50% | 43% | 89% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 107 | 5% | 29% | 66% | 95% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 87 | 2% | 28% | 69% | 96% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 65 | 3% | 48% | 49% | 96% |
| 01 Apr 2018 - 31 Dec 2018 | 17 Jan 2019 | 58 | 6% | 58% | 36% | 92% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
55 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
Standard payment terms changed from 60 days of invoice date to 55 days from invoice date
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
55
Centrally managed Procurement & Purchase Ledger teams dealing with supplier relationships and disputes.
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
OCS Security Limited is a UK-registered company whose registered activity, per Companies House, is private security activities. It was incorporated in 2002 and has traded under several previous names, including Stag Security Services Limited, Servest Security Services Limited and Atalian Servest Security Limited, before adopting its current name. The company's registered office is in Ipswich, Suffolk. Based on its SIC classification and naming history, it appears to operate within the security services sector, likely providing manned guarding or related private security services as part of a wider facilities or security services group. No further detail on specific services, clients or turnover is available from the evidence provided.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk