1. Total Supplier Manager (TSM) Benefits Savings from PO Closures
In preparation for TSM vendor migration 43,000 PO’s have been finally closed to date.
50% of PO closures have been completed
Goal - 100% PO closures completed by the end of February
$25m in open commitments eliminated
Risk: Invalid invoicing on open POs
A vendor can invoice against any remaining $’s on open PO’s
Vendor Portal increases vendor visibility of “open” PO’s
Finally closing thousands of these PO’s will prevent invalid invoicing
Mitigates risk of invoicing against open commitments on PO’s that have been finally closed
Up to $150k in eVA credits
Finally closing these PO’s reduces PO amount and generates credit
eVA fee credits will be cost-transferred back to the original PO account.
Depts should see these credits applied to their accounts during the upcoming January & March eVA billing cycle.
eVA fees paid when PO’s were created will now be credited back to UVA.
Of the thousands of PO’s already finally closed, we have discovered only 1 PO closed in error.
If you discover that one of your PO’s has been closed in error:
<$10k - create new PO
If >$10k - contact central PSDS for assistance