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STATE OF CONNECTICUT

STATE OF CONNECTICUT. Vendor Incentives for Sysco Food Services of Connecticut 2010 Update. We are here today to…. Objectives. Understand the different Incentives offered by Sysco Foods Learn the procedures for processing these Incentives in Accounts Payable

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STATE OF CONNECTICUT

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  1. STATE OF CONNECTICUT Vendor Incentives forSysco Food Services of Connecticut 2010 Update

  2. We are here today to… Objectives • Understand the different Incentives offered by Sysco Foods • Learn the procedures for processing these Incentives in Accounts Payable • Know who to contact for Sysco-related questions and problems

  3. “I’m in Accounts Payable. Why should I care about Incentives?” Because during this fiscal situation we must do everything to minimize costs and conserve funding. Overview • Sysco calculates a complex “Request for Credit” report monthly for each Agency • Cost savings can be substantial for your Agency • Your Agency may not be taking full advantage of these savings What can YOU do to change this?

  4. Incentives Available • Sysco Brand Incentive • Opportunity Buys Incentive (high volume) • Prompt Payment Discount (0.60% 5 days) • Prompt Payment Discount (0.50% 10 days) • Prompt Payment Discount (0.25% 15 days) • Manufacturer’s Rebate/Other Incentive Initiatives (negotiated w/Sysco)

  5. “What do these Discounts and Rebates mean to Accounts Payable?” In a Nutshell… • Pay your food invoices within 5 days of invoice receipt to be awarded the highest prompt payment discount • Payments made after 15 days lose ALL PROMPT PAYMENT INCENTIVES • Use ‘Due Now’ pay term on the voucher. All prompt payment discounts are rebated by Sysco to the agency • Manage your Sysco Account often to ensure prompt voucher processing through to ‘Paid’ status • Use available queries and inquiries to analyze ‘snags’ in your voucher processing Incentives Available Adhering to the above guidelines ensures that you are taking the most advantage of the Discounts and Rebates offered by Sysco.

  6. Run this Vendor Current Balance Inquiry regularly to ensure prompt voucher processing to Sysco… Managing Your Sysco Account

  7. Linking to Voucher Details shows critical processing/timing information… Managing Your Sysco Account

  8. Also run this Vendor Aging Inquiry monthly to ensure prompt processing of all vouchers to Sysco… Managing Your Sysco Account

  9. Use this EPM Query for Analyzing lag days between important dates CT_CORE_FIN_AP_VCHR_DT_COMPARE Managing Your Sysco Account Query results after filtering data for Sysco only

  10. Also, please remember… Managing Your Sysco Account Communication with Kitchen/Purchasing/Accounts Payable staff is essential to taking advantage of all Incentives offered by the Sysco Contract!

  11. Core.support@po.state.ct.us Or: 860-622-2300 x1 • CORE Sysco Accounts Payable Issues Contact CORE HelpDeskLog a Ticket Still Confused? Help is Available… If you need help with: Contact: E-Mail Address • Calculation of Sysco Brand Incentive, High Volume Incentive, Mfgr’s Rebates, Prompt Payment Discounts Amy Fraser (Sysco) Fraser.amy@ct.sysco.com Or (800) 385-5610 x 5152 Help is Available • Interpretation of Discounts and Credits Mark.aronowitz@po.state.ct.us Or: 860-702-3399 Mark Aronowitz (OSC)A/P Division Lavern.thomas@po.state.ct.us Or: 860-702-3393 • Sysco-related Audit Issues Lavern Thomas (OSC)A/P Division Ann.simeone@ct.gov Or: 860-713-5051 • Sysco Contract Interpretation Ann Simeone (DAS)Procurement Services Core.support@po.state.ct.us Or: 860-622-2300 x1 • CORE Sysco Purchasing Issues Contact CORE HelpDeskLog a Ticket

  12. Questions/Comments

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