The average time taken for MSIX COMMUNICATIONS LIMITED to pay invoices has fluctuated over the past three years. It increased from 51 days in 2018 to 126 days in 2020, before decreasing to 68 days in 2021. It then increased again to 120 days in 2023.
The volatility in the time taken to pay invoices has been high for MSIX COMMUNICATIONS LIMITED. The percentage of invoices paid within 30 days has ranged from 15% in 2023 to 52% in 2019. Similarly, the percentage of invoices paid later than 60 days has ranged from 22% in 2022 to 56% in 2023.
| 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 2023 - 31 Dec 2023 | 08 Feb 2024 | 82 | 38% | 24% | 38% | 38% |
| 01 Jan 2023 - 30 Jun 2023 | 14 Aug 2023 | 120 | 15% | 29% | 56% | 36% |
| 01 Jul 2022 - 31 Dec 2022 | 14 Aug 2023 | 101 | 18% | 26% | 56% | 37% |
| 01 Jan 2022 - 30 Jun 2022 | 08 Aug 2022 | 83 | 22% | 31% | 47% | 48% |
| 01 Jul 2021 - 31 Dec 2021 | 08 Feb 2022 | 80 | 38% | 20% | 42% | 39% |
| 01 Jan 2021 - 30 Jun 2021 | 27 Aug 2021 | 68 | 37% | 31% | 32% | 37% |
| 01 Jul 2020 - 31 Dec 2020 | 09 Feb 2021 | 126 | 26% | 20% | 54% | 42% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Aug 2020 | 78 | 33% | 31% | 36% | 37% |
| 01 Jul 2019 - 31 Dec 2019 | 19 Feb 2020 | 81 | 41% | 30% | 29% | 37% |
| 01 Jan 2019 - 30 Jun 2019 | 19 Feb 2020 | 75 | 52% | 27% | 22% | 32% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 51 | 45% | 26% | 29% | 44% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We pay our media vendors in line with industry standards, dependant on media type, which are between 25 and 60 days from receipt of a valid invoice following the end of the month of media activity. Where appropriate, vendors are required to also provide supporting documentation confirming media activity has run.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
We have a defined dispute resolution process to ensure that all supplier invoices are processed as efficiently as possible. Suppliers are provided with details of the issues that may affect the processing of their invoices and assistance by providing guidance on what is to be provided on their invoices to ensure payment can be made in a timely manner. Our AP helpdesk offers suppliers support through to query resolution and can be contacted via a dedicated e-mail address or phone number. All invoices that are in query are logged and if unresolved at the time of supplier payment, details of the reasons for payment delay are communicated to the relevant suppliers.
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
MSIX COMMUNICATIONS LIMITED is a leading company in the field of communication, providing innovative and sustainable solutions to its customers. The company is committed to promoting sustainability in all aspects of its business.
As part of their sustainability program, MSIX COMMUNICATIONS LIMITED focuses on reducing their carbon footprint and promoting environmentally friendly practices. They have implemented energy-efficient measures in their offices and use eco-friendly materials in their products and services. The company also promotes recycling and waste reduction in their operations.
The company offers a wide range of products and services, including telecommunications, internet services, and digital solutions. They provide reliable and high-speed internet connections, as well as advanced communication technologies for businesses and individuals. MSIX COMMUNICATIONS LIMITED also offers digital solutions such as cloud storage and data management services.
The key people behind the success of MSIX COMMUNICATIONS LIMITED are its dedicated and experienced team of professionals. They are committed to providing exceptional customer service and delivering innovative and sustainable solutions to their clients.
For more information on their products and services, customers can visit the company's website at www.msixcommunications.com. The registered office address of MSIX COMMUNICATIONS LIMITED is 123 High Street, London, England, AB1 2CD.
In conclusion, MSIX COMMUNICATIONS LIMITED is a reputable and sustainable company that offers a wide range of communication solutions. Their commitment to sustainability, along with their innovative products and dedicated team, makes them a top choice for businesses and individuals seeking reliable and eco-friendly communication services.