QUANTEXA LIMITED
Company number: 10045407
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
27 November 2025
Approved by:
Vishal Marria
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 25 days
Total value paid:
- within 30 days: £14,390,424 (74%)
- in 31 to 60 days: £2,973,170 (15%)
- in 61 days or more: £2,112,107 (11%)
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 20%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £11,353,678
- payments due in the reporting period which have not been paid within the agreed period: 41%
- not made in the reporting period due to a dispute: 16%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Our current standard payment term for third-party supplier agreements is 30 days from the receipt of a valid and undisputed invoice. This is reflected in our contractual language as follows:
“Payment shall be made within thirty (30) days of receipt of a valid and undisputed invoice.” While 30 days is the standard, we do allow for exceptions. Within our payment system (Tipalti), suppliers may be set up with alternative terms including 15 days, 45 days, 60 days, or Direct Debit. In practice, we’ve observed that 15-day terms are more commonly applied to US-based suppliers.
It is important to note that prior to the latest internal and legal updates to our Supplier Agreement templates—effective from 2024 onwards—the standard payment term was 60 days. As a result, several legacy suppliers and partners remain on 60-day terms unless their agreements have been updated.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
There have been no changes to our standard payment terms during the reporting period. Suppliers typically notify us of any changes to their own standard payment terms, bank account details, or general entity information by issuing an official letter. From our side, we have not issued any formal communication to suppliers regarding changes to our payment terms during this period.
Once onboarded, suppliers have the ability to select their preferred payment term during setup via the Supplier Portal (a dedicated view within Tipalti). This provides flexibility for suppliers to confirm or adjust their payment preferences at the point of registration.
Any other information about payment terms
No further comment provided
Dispute resolution process
When a supplier invoice is disputed, our Accounts Payable (AP) team uses the “Hold Payment” status within our payment system (Tipalti) to flag the bill as disputed. The invoice is then returned to the relevant business owner, who contacts the supplier to obtain clarification, supporting documentation, or a revised invoice.
Once the issue is resolved and the invoice is confirmed as valid, the AP team updates the status to “Cleared” and resumes normal processing. The invoice is then included in the next scheduled payment run following approval.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No