13 days from subcontractor invoice to money in the … 13 days from subcontractor... · c a p t u r...
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
13 Days from Subcontractor Invoice to Money in the Bank
October 19, 2017
Jully Laxamana, Sutter Health Panos Lampsas, Sutter Health
Karen Conrod, HerreroBOLDT David Thomack, HerreroBOLDT
C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Introduction
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Introduction
3
• Jully Laxamana – Project Controls Manager, Sutter Health
• Karen Conrod – Director of Risk Manager, HerreroBOLDT/The Boldt Company
• Panos Lampsas – Regional Program Manager, Sutter Health
• David Thomack – EVP/GM, HerreroBOLDT/The Boldt Company
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
4
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
LCI CONGRESS PRESENTATION STYLE GUIDEBackground
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Background
6
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
LCI CONGRESS PRESENTATION STYLE GUIDECurrent State
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Current State
8
• Sutter Health – Most projects (+/- 45 Days)
• Average
• Sutter Health – VNGC (> 30 Days)
• 2013
• Had to do better!
• Industry Statistics
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Goal
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Cash Neutrality
10
• Definition
• No company required cash or
capital to fund the work being
put in place
• The “Guzintas = Guzoutas”
• Why?
• Undue financial burden
• Better Pricing
• Increased Efficiency/Decrease Waste
• Goodwill
• Stronger Relationships - TRUST
• Increased Communication
• Common Sense
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
LCI CONGRESS PRESENTATION STYLE GUIDEChallenges
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Challenges
12
• Non-existent or Unclear Value Proposition
• Current Sutter Standards
• Unknown Processes/Procedures
• Lack of understanding of Waste
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
LCI CONGRESS PRESENTATION STYLE GUIDECountermeasures
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Countermeasures
14
• Defined Value Proposition
• Change Sutter Standards • Clear Process and Procedures
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Countermeasures (cont.)
15
• Create Understanding and Reduce Waste in Accounting and Financial
Management Value Streams
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Action Plan
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Action Plan
17
• Clear Expectations • Clear Process
October 2017 Calendar
1 2 3 4 5 6 7
8 9 Columbus Day 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 Hallow een Notes:
= After submission tasks
Labor Rate Books Completed = PM Rev iew
Boldt Inv oices Completed =Current Draw Acntg tasks = Tasks for nex t draw
Boldt Labor Closes (4 w eeks) Boldt material closes (4
Payment from Sutter -
disburse funds to Trade
Partners
DM -Retention Forecast
Authorize payments in
Textura
Accounting Team to confirm
forecast for current month.
DM -Contracts @ 80%
OT Hours to Finance -
Standard Subs final by
EOD for Finance Team
Invoice submitted to Sutter
by EOD
Union Letter Check
Final review combined
PM Review Day 3 ALL invoices match
Textura
Cash Disbursements to
Susan Kriplean
OAC Meeting Accounting Review Day Accounting - Final Check ALL invoices approved in
a/p
Recap to Kerri Delaney
Combined Sheet finalized
Transfers complete by
PM List - Who Billed by
Noon
HB/Giron Labor to
Ye/Leland by noon
Close Draw
HB Labor complete on
Combined Sheet for
Advance Payment
Accounting Review Day Accounting Review Day PM Review Day 1 PM Review Day 2
INVOICES DUE BY
NOON FROM SUBS
◄ Sep 2017 October 2017 Nov 2017 ►
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Action Plan
18
• Training/Coaching/Mentoring • PDCA
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
LCI CONGRESS PRESENTATION STYLE GUIDEResults
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Results
20
• Payment History Chart
Industry Average (60 – 75 Days)
VNGC Average
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Q & A / Contact Us
21
Karen Conrod
The Boldt Company
Jully Laxamana
Sutter Health
David Thomack
The Boldt Company
Panos Lampsas
Sutter Health
[email protected] (No emails)
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
Go Badgers!
22
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C A P T U R E A N D L E V E R A G E T H E L E A N A D V A N T A G E
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