Company number: OC392043
and approved by Jamie Blackman
Average time taken to pay invoices: 254 days
Invoices paid:
Invoices due but not paid within agreed terms: 63%
7 days
60 days
30 days from receipt of invoice.
Answer not provided
N/A
60 days
No further comment provided
Viapath Analytics makes payments to its suppliers via a shared service centre (SSC). The SSC contract is managed by Viapath, but the staff are not under Viapath control. Viapath underwent a change of accounting system and SSC during the previous reporting period, and it has taken time to settle process and procedure which appears to have impacted payment performance. From January 2022 to June 2022 we can see that the average time to pay invoices has increased. This is largely due to the changes detailed above, and the clearing of aged invoices.
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.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No