The average time taken for CHARLES TAYLOR INSURETECH LIMITED to pay invoices has fluctuated over the three periods, with a decrease in the second period followed by an increase in the third period.
The volatility of the percentage of invoices paid within 30 days has been high, with a significant decrease in the third period compared to the first two periods. The percentage of invoices paid between 31 and 60 days has also been volatile, with a sharp increase in the third 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 2024 - 30 Jun 2024 | 14 Aug 2024 | 40 | 22% | 59% | 19% | 41% |
| 01 Jan 2023 - 30 Jun 2023 | 15 Aug 2023 | 56 | 23% | 55% | 22% | 53% |
| 01 Jul 2022 - 31 Dec 2022 | 01 Feb 2023 | 116 | 21% | 35% | 44% | 57% |
| 01 Jan 2022 - 30 Jun 2022 | 01 Feb 2023 | 69 | 20% | 43% | 37% | 51% |
| 01 Jul 2021 - 31 Dec 2021 | 01 Feb 2022 | 14 | 89% | 9% | 2% | 11% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days from the invoice date
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
None
Maximum contractual payment period agreed
60
The dispute will be managed by the relevant budget holder. Legal advice/action would be obtained if necessary
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
Charles Taylor InsureTech Limited is part of the Charles Taylor Group and trades as Charles Taylor InsureTech. It provides insurance software systems and services to insurers and brokers, aiming to enhance gross written premium, cost of risk and compliance. Its offering spans digital transformation of legacy core policy administration systems, targeted digital modernisation of existing technology stacks, specialist London market solutions such as bordereaux and claims and document management systems, and managed services covering end to end technology operations. Its InHub platform is a cloud based SaaS and integration layer connecting modern applications with legacy systems via APIs, and includes ready made portals and payment gateway integrations for insurance clients.
Generated from the company's website and Companies House records. Sources: ctinsuretech.com · ctinsuretech.com