state of connecticut
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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 - PowerPoint PPT PresentationTRANSCRIPT
STATE OF CONNECTICUTSTATE OF CONNECTICUT
Vendor Incentives
forSysco Food Services of Connecticut
2010 Update2010 Update
ObjectivesObjectives
We are here today to…
Understand the different Incentives offeredby Sysco Foods
Learn the procedures for processing theseIncentives in Accounts Payable
Know who to contact for Sysco-related questionsand problems
OverviewOverview
What can YOU do to change this?
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 advantageof these savings
“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.
Incentives AvailableIncentives Available
1. Sysco Brand Incentive
2. Opportunity Buys Incentive (high volume)
3. Prompt Payment Discount (0.60% 5 days)
4. Prompt Payment Discount (0.50% 10 days)
5. Prompt Payment Discount (0.25% 15 days)
6. Manufacturer’s Rebate/Other Incentive Initiatives (negotiated w/Sysco)
Incentives AvailableIncentives Available
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
“What do these Discounts and Rebates mean to Accounts Payable?”
Adhering to the above guidelines ensures that you are taking the most advantage of the Discounts and Rebates offered by Sysco.
Managing Your Sysco AccountManaging Your Sysco Account
Run this Vendor Current Balance Inquiry regularly to ensure prompt voucher processing to Sysco…
Managing Your Sysco AccountManaging Your Sysco Account
Linking to Voucher Details shows critical processing/timing information…
Managing Your Sysco AccountManaging Your Sysco Account
Also run this Vendor Aging Inquiry monthly to ensure prompt processing of all vouchers to Sysco…
Managing Your Sysco AccountManaging Your Sysco Account
Use this EPM Query for Analyzing lag days between important dates
CT_CORE_FIN_AP_VCHR_DT_COMPARE
Query results after filtering data for Sysco only
Managing Your Sysco AccountManaging Your Sysco Account
Also, please remember…
Communication with Kitchen/Purchasing/Accounts Payable staff is essential to taking advantage of all Incentives offered by the Sysco Contract!
Help is AvailableHelp is Available
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) [email protected]
Or (800) 385-5610 x 5152
Interpretation of Discounts and Credits
Mark Aronowitz (OSC)A/P Division
Or: 860-702-3399
Lavern Thomas (OSC)A/P Division
Or: 860-702-3393
Ann Simeone (DAS)Procurement Services
Or: 860-713-5051
Sysco-related Audit Issues
Sysco Contract Interpretation
CORE Sysco Purchasing Issues Contact CORE HelpDeskLog a Ticket
Or: 860-622-2300 x1
CORE Sysco Accounts Payable Issues
Contact CORE HelpDeskLog a Ticket
Or: 860-622-2300 x1
Questions/CommentsQuestions/Comments