STATE OF CONNECTICUT Vendor Incentives for Sysco Food Services of Connecticut 2010 Update.

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Presentation transcript:

STATE OF CONNECTICUT Vendor Incentives for Sysco Food Services of Connecticut 2010 Update

Objectives We are here today to… 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

Overview 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 advantage of these savings Im 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 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.Manufacturers Rebate/Other Incentive Initiatives (negotiated w/Sysco)

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

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

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

Managing Your Sysco Account Managing 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 Account Managing 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 Available Still Confused? Help is Available… If you need help with: Contact: Address Calculation of Sysco Brand Incentive, High Volume Incentive, Mfgrs Rebates, Prompt Payment Discounts Amy Fraser Or (800) x 5152 Interpretation of Discounts and Credits Mark Aronowitz (OSC) A/P Division Or: Lavern Thomas (OSC) A/P Division Or: Ann Simeone (DAS) Procurement Services Or: Sysco-related Audit Issues Sysco Contract Interpretation CORE Sysco Purchasing IssuesContact CORE HelpDesk Log a Ticket Or: x1 CORE Sysco Accounts Payable Issues Contact CORE HelpDesk Log a Ticket Or: x1

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