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Procure To Pay A Panel Discussion

Procure To Pay A Panel Discussion. Moderator Julianne Britt Bentley University. Procure to Pay Agenda. Overview Introductions Boston College Discussion Yeshiva University Discussion University of North Texas Discussion Questions. Boston College. Paul McGowan.

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Procure To Pay A Panel Discussion

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  1. Procure To Pay A Panel Discussion Moderator Julianne Britt Bentley University

  2. Procure to PayAgenda • Overview • Introductions • Boston College • Discussion • Yeshiva University • Discussion • University of North Texas • Discussion • Questions

  3. Boston College Paul McGowan

  4. Boston College Procure to Pay Evolution Boston College at a Glance STUDENTS 9,000 undergraduate students • UG Tuition & fees (FY10): $50,970 • Total applications: 29,290 • Percent Receiving Financial Aid: 60% • Middle 50% SAT scores: 1920-2130 • Percent AHANA: 24% • Graduation Rate: 91% 5,000 graduate students RESOURCES Operating budget: $737.5 million Endowment: $1.5 billion Sponsored research: $58.5 million Private gift support: $86.2 million Total Acres: 386.2 708 full-time faculty 2,400 staff Boston College

  5. Boston College Procure to Pay Evolution

  6. Boston College Procure to Pay Evolution Evolution of BC’s Financial System 42

  7. PO Module Purchase from a vendor Reimburse Employees Travel and Expenses Module ePRO Module Perform Budget Transfers Reports and Inquiry General Ledger Module Project/ Grant Module Feeds Contracting Info CashNet PS HR Feeds legacy data Billing/AR GRAD Fin Aid Auxiliaries SIS AP Module Bill a sponsor Legacy & Other Systems Commitment Control Pay a vendor 38

  8. Project Overview History • At the request of senior management, a consultant performed an analysis of current business practices surrounding the Procure to Pay Process at Boston College. • The objective of the analysis was to identify potential process improvements as well as evaluate the pros and cons of implementing a merged Procurement Department within the Controller’s Office. • The goals of such a unit will be to actualize the potential for: • Cost savings from the pooling of resources; • Realizing efficiencies through methodologies achieved at other Universities; • Coordination of policies and procedures; • Enhanced assurance that sound business practices and compliant behaviors are in place; • Increased effectiveness of time utilization within BC's Accounts Payable and Purchasing departments. Boston College

  9. Project Process • Obtain a high-level understanding of the current procure to pay process. • Interview BC participants involved in the procure to pay process. • Collect and analyze data. • Summarize data collected from Procurement Survey of other Universities. • Identify opportunities to enhance payables business practices, policies and controls. • Identify opportunities to enhance purchasing business practices, policies and controls. • Provide comments related to BC's procure to pay process and organizational structure. • Present results of analysis. • Outline potential next steps.

  10. Boston College Procure to Pay Evolution • Current Procurement Process Satisfaction • When asked what process improvements the operational areas of Accounts Payable and Purchasing would like to see, the most common responses were: • Accountability for end users • Increased use of the Purchasing card • Travel authorization functionality • Direct deposit for employees • Change order functionality • Continued training for end users

  11. Boston College Procure to Pay Evolution • Merging Accounts Payable and Purchasing • Consultant participated in a task force to assess the feasibility and potential benefit of combining the Purchasing and Accounts Payable departments into one functional department. • The task force analyzed the pros and the cons of combining the departments.

  12. Boston College Procure to Pay Evolution • Merging Accounts Payable and Purchasing • When merging the two departments, the following concerns raised about the combination will need to be addressed; • Accountability • Internal controls surrounding separation of duties exist where the same department is responsible for entering orders and paying the bills, • An individual entering vouchers could also have access to enter vendors, thereby presenting an opportunity to pay an unapproved vendor, • Department entering vouchers also has access to generate checks. No third party verification exists.

  13. Boston College Procure to Pay Evolution • Merging Accounts Payable and Purchasing • Recommendations to Address these Concerns; • Separate Roles and Functions • Continue to maintain separate roles within PeopleSoft for Accounts Payable and Purchasing. • Ensure that no one individual has a combination of roles which would grant access to enter vouchers, purchase orders, approve/dispatch purchase orders, vendor entry/approval and print checks. • Maintain a separation of the functions within a Department of procurement. • Pay-cycle • An individual in Accounting should be given the responsibility of periodically reviewing paycycle • Using PeopleSoft security, ensure no individual with a Purchasing Role is granted a role with access to pay-cycle and • No one with access to paycycle should be granted a role as Buyer.

  14. Boston College Procure to Pay Evolution • Summary of Current Procure to Pay Process Issues • Current business practices are still transitioning. • Many process improvements have occurred with the transition to PeopleSoft, yet the benefit of these improvements is clouded by the large learning curve for the users. • Purchasing adds little value to the processing of small dollar transactions; yet the majority of purchase orders are under the $5,000 PCard threshold. • Departmental end users do not take responsibility for transactions they enter into the system. Current expectations assume that Accounts Payable and Purchasing will correct their mistakes. • Several day to day operational tasks require a significant increase in turn around time due to the execution of several processes. • The lack of change order and travel authorization functionality causes rework for the Purchasing and Payables functions.

  15. YESHIVA UNIVERSITY Jack D. Zencheck

  16. Procure-to-Payat Yeshiva University JACK D. ZENCHECK, M.S., C.P.M., A.P.P.

  17. ABOUT YESHIVA UNIVERSITY

  18. UNIVERSITY BUDGET • $600 MILLION BUDGET $450 MILLION EINSTEIN $175 MILLION IS GRANT FUNDS FEDERAL, STATE, & CITY • SMALL UNIVERSITY WITH A MAJOR RESEARCH OPERATION

  19. PROCUREMENT SERVICES Chief Procurement Officer Jack D. Zencheck Assistant to the CPO/ Departmental Administrator L. Newman Receptionist A. Basilone Director E-Business (P-Cards) (B-2-B) A. Kerson Director of Purchasing N. Alexander Director of Energy Management & Sustainability M. Winkler Director of Accounts Payable D. Wasserman AP Supervisor T. C. Singh Assistant Manager S. Bucci E- Business Project Coordinator A. Butta Purchasing Agent MRO B. Kirschner Contract Administrator Print J. Van Dyck Contract AdministratorScientific G. Tyson Contract Administrator Events E. Fontana Contract Administrator IT R. Gandolfo Contract Administrator Food T. Ackerman Sustainability Coordinator Andrea Moore Travel & Expense J. Iurato Purchasing Assistant Joan Williams Freezer Program Clerk Rita Labrew Acquisition Clerk Natividad Franco Book-keeer L. James A/P Clerk E. Teehan A/P Clerk K. Neufvill Book-keeper D. Lewis Book-keeper H. Martinez

  20. SYSTEMS & TECHNOLOGY • SCIQUEST • SETTLEMENT MANAGER • EXACTRACT (SINGLE USE) • P-CARDS

  21. Requirements of Research University • Travel • Allowable Expenses • Object Codes • Close out of Payables timely • Electronic Invoices • Consultants • etc

  22. University of North Texas Debbie A. Reynolds

  23. Procure to Pay…or as we like to call it…Req to Check Debbie Reynolds, Director of Purchasing and Property Services University of North Texas University of North Texas University of North Texas University of North Texas Health Science Center at Fort Worth Dallas Campus Proposed College of Law

  24. University of North Texas SystemBackground

  25. Purchasing and Payment Services Purchasing Payments • Buyers (10) • Bids & Contracts (4) • Contract Specialists (3) • Purchasing Card (2) • Property (10) • Assistants (2) • Administrative (1) • Total of 26 • Vendor Relations (3) • Special Payments (3) • Travel (7) • Disbursements (2) • Assistants (2) • Voucher Entry (5) • Voucher Submit (5) • Voucher approval (3) • Total of 30

  26. Purchasing

  27. Purchasing and Payment Services • Location, location, location – we can reach out and touch one another, face to face • Policy – we share in the same policy and procedures • Customer Service Expectations – we all hear the same message • Team Approach – customers know that PPS is one • Vendor Relations – improves as team works towards same goal of satisfaction

  28. Questions & Answers Thank You!

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