THOUGHT MACHINE GROUP LIMITED
Company Information
- Company Number
- 11114277
- Registered Address
- 5 New Street Square, London, United Kingdom, EC4A 3TW
- Status
- Active
- Employee Count
- 515
- Turnover
- £42,232,000
- EBITDA
- -£71,803,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 15 December 2017
- Nature of Business
- 62012 - Business and domestic software development
- Industries
- Financial Services,Software
- Region
- London
Time to Pay
Payment Timeline
Payment Features
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 Jan 2025 - 30 Jun 2025 | 18 Aug 2025 | 30 | 61% | 35% | 4% | 52% |
| 01 Jul 2024 - 31 Dec 2024 | 15 Jan 2025 | 34 | 67% | 26% | 7% | 47% |
| 01 Jan 2024 - 30 Jun 2024 | 15 Jul 2024 | 38 | 69% | 20% | 11% | 48% |
| 01 Jul 2023 - 31 Dec 2023 | 23 Jan 2024 | 35 | 53% | 38% | 9% | 62% |
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
The supplier shall invoice the Company at the invoicing address set out on the purchase order and the Company’s terms of payment shall be 30 days following receipt of a valid invoice quoting the correct purchase order and job numbers for Goods and/or Materials delivered and/or Services performed to the Company’s reasonable satisfaction. The Company may set off against any sums due to the supplier whether under contract or otherwise any lawful set-off, counterclaim to which the Company may at any time be entitled.
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
90
Dispute Resolution Process
Any disputes in respect of supplier payments are resolved by contacting the Accounts Payable Team via emea-accounts-payable@thoughtmachine.net. The Accounts Payable department will then assist further with query and if applicable this may be escalated to the legal team.
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.
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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?
❌
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
Thought Machine Group Limited is a leading software company that specializes in building cloud-native core banking systems
The company was founded in 2014 and is headquartered in London, United Kingdom.\n\nThe company offers a range of products and services, including its flagship product, Vault, which is a cloud-based core banking platform designed to help financial institutions innovate and modernize their banking operations
Vault enables banks to offer digital services and enhanced customer experiences while also improving efficiency and reducing costs.\n\nThought Machine Group Limited is committed to sustainability and has implemented several initiatives to reduce its environmental impact
This includes using renewable energy sources, reducing waste, and promoting sustainable practices within the company
The company also partners with sustainable suppliers and encourages its clients to adopt sustainable practices.\n\nThe company is led by its CEO, Paul Taylor, who has over 20 years of experience in the financial technology industry
Other key people include COO, Stephen Golding, and CTO, Tom Blomfield, who bring a wealth of experience and expertise to the company.\n\nThought Machine Group Limited can be contacted through their website, which is https://thoughtmachine.net/
Their registered office address is 1 Hardwick Street, London, EC1R 4RB, United Kingdom
With its innovative products and commitment to sustainability, Thought Machine Group Limited continues to be a leader in the financial technology industry
