VIAPATH ANALYTICS LLP

Company number: OC392043

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 27 July 2018

and approved by Clive Mosey

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 70%
• in 31 to 60 days: 13%
• in 61 days or more: 17%

Invoices due but not paid within agreed terms: 70%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

30 days from receipt of invoice.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

Viapath Analytics makes payments to its suppliers via a third party which uses an off shore shared service centre (SSC). The SSC contract is not managed direct by Viapath. The third party changed its SSC contractor in 2017, and the SSC made a number of other changes that have had an adverse effect on our ability to pay on time. This has been the case over a prolonged period of time. We have worked with the third party, and their SSC contractor, to resolve issues over the past 6 months and this has led to a large number of aged invoices being released for payment. Our payment performance in the reporting period is therefore slower than would ordinarily be expected, and is not a reflection of our current performance nor our intention. Our performance in this area is improving as we deal with issues that have to date prevented payment.

Dispute resolution process

Viapath Analytics dispute policy has the following steps: 1. Make contact with the supplier and ask for an updated statement and copy of all outstanding invoices. Where needed we have telephone conferences or face-to-face meetings to resolve complex issues. 2. Reconcile the statement and provide an update to Supplier on the status of each invoice so they know where the invoice is in the approval and payment process. 3. Resolve any queries or blocked invoices and ensure invoices are free for payment. 4. Make payment of invoices and send remittance to Supplier.

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 Prompt 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