MAVENIR SYSTEMS LIMITED
Company number: 02693122
Reporting period:
1 February 2018 to
31 July 2018
This report was filed on 1 November 2018
and approved by Robin Thorn
Payment statistics
Average time taken to pay invoices: 77 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 37%
- in 61 days or more: 45%
Invoices due but not paid within agreed terms: 45%
Payment terms
Shortest standard payment periods
15 days
Longest standard payment period
60 days
Standard payment terms
The standard terms are 60 days
Were there any changes to the standard payment terms in the reporting period?
Mavenir’s payment cycles are on the 5th and 20th of each calendar month. The period for payment will be calculated from the payment cycle date of each calendar month.
Were suppliers notified or consulted about these changes before they were made?
Email explaining details with contact details for questions
Maximum contractual payment period agreed
75 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
AP sends an email to the vendor informing invoice has been rejected (for various reasons). Vendor then is required to provide supporting documents. Internal BU reviews and determines whether to approve/reject.
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.
No
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?
Yes
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No