VIRTUSA UK LIMITED
Company Information
- Company Number
- 05210127
- Registered Address
- 8th Floor 26 Finsbury Square, London, United Kingdom, EC2A 1DS
- Status
- Active
- Employee Count
- 2
- Turnover
- £0
- EBITDA
- £0
Additional Details
- Website
- https://www.virtusa.com/
- Company Type
- Private limited Company
- Incorporated On
- 19 August 2004
- Nature of Business
- 62020 - Information technology consultancy activities
- Industries
- Software
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The data shows that VIRTUSA UK LIMITED has consistently improved their average time to pay invoices over the last three periods. From April 2019 to March 2022, the average time to pay has decreased from 37 days to 28 days, indicating a trend towards faster payment to suppliers.
Volatility Analysis
The data also shows low volatility in the percentage of invoices paid within 30 days, with only a 4% difference between the highest and lowest percentage over the three periods. However, there is more volatility in the percentage of invoices paid between 31 and 60 days, with a 9% difference between the highest and lowest percentage. The biggest change is seen in the percentage of invoices paid later than 60 days, with a decrease of 11% over the three periods.
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 Oct 2021 - 31 Mar 2022 | 28 Apr 2022 | 28 | 76% | 19% | 5% | 24% |
| 01 Apr 2021 - 30 Sept 2021 | 27 Oct 2021 | 29 | 72% | 21% | 7% | 28% |
| 01 Oct 2020 - 31 Mar 2021 | 22 Apr 2021 | 30 | 65% | 28% | 7% | 35% |
| 01 Apr 2020 - 30 Sept 2020 | 21 Oct 2020 | 30 | 65% | 28% | 7% | 35% |
| 01 Oct 2019 - 31 Mar 2020 | 30 Apr 2020 | 30 | 68% | 21% | 11% | 32% |
| 01 Apr 2019 - 30 Sept 2019 | 30 Mar 2020 | 37 | 62% | 22% | 16% | 38% |
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
Payment terms are 30 days from accepting the invoice from a supplier
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Even though payment terms are stipulated as 30 days, effort is made to pay invoices well in advance of the standard payment terms.
Maximum contractual payment period agreed
30
Dispute Resolution Process
Three tier resolution process: Level 1: Virtusa’s accounts payable team – vendors are encouraged to email their concerns to a dedicated email ID: (a) AccountsPayable-UK@virtusa.com - For non-OSP (outsourced service providers) invoices and (b) VirtusaContractorAPEur@virtusa.com – For OSP invoices. Level 2: Payables Manager – Suppliers are provided with the current contact details at the time of engaging services with Virtusa. Level 3: Finance Manager – Suppliers are provided with the current contact details at the time of engaging services with Virtusa
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.
❌
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.
❌
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
VIRTUSA UK LIMITED is a global information technology services company that provides a wide range of services such as digital transformation, software engineering, and data analytics to clients across various industries. The company has a strong focus on sustainability and has implemented a sustainability program to reduce its environmental impact.
Their sustainability efforts include reducing carbon emissions, promoting the use of renewable energy, and implementing energy-efficient practices in their operations. They also have a recycling program in place to reduce waste and promote responsible consumption.
In terms of products and services, VIRTUSA UK LIMITED offers customized solutions to meet the specific needs of their clients. They leverage cutting-edge technologies to help businesses improve their efficiency, reduce costs, and enhance their customer experience.
The key people at VIRTUSA UK LIMITED include their CEO, Kris Canekeratne, and their Managing Director, Madan Ranganathan. Both of them have extensive experience in the IT industry and are committed to driving the company towards sustainable growth.
To get in touch with VIRTUSA UK LIMITED, you can visit their website at www.virtusa.com or reach out to their registered office at 10 Fenchurch Street, London EC3M 3BE. Overall, VIRTUSA UK LIMITED is a leading IT services company that not only delivers innovative solutions but also prioritizes sustainability in their operations.
