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

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) Fraser.amy@ct.sysco.com

Or (800) 385-5610 x 5152

Interpretation of Discounts and Credits

Mark Aronowitz (OSC)A/P Division

Mark.aronowitz@po.state.ct.us

Or: 860-702-3399

Lavern Thomas (OSC)A/P Division

Lavern.thomas@po.state.ct.us

Or: 860-702-3393

Ann Simeone (DAS)Procurement Services

Ann.simeone@ct.gov

Or: 860-713-5051

Sysco-related Audit Issues

Sysco Contract Interpretation

CORE Sysco Purchasing Issues Contact CORE HelpDeskLog a Ticket

Core.support@po.state.ct.us

Or: 860-622-2300 x1

CORE Sysco Accounts Payable Issues

Contact CORE HelpDeskLog a Ticket

Core.support@po.state.ct.us

Or: 860-622-2300 x1

Questions/CommentsQuestions/Comments