new payment policy
play

New Payment Policy CONFIDENTIAL New Flex Monthly Payment Policy - PowerPoint PPT Presentation

Mar 07, 2024 •369 likes •439 views

New Payment Policy CONFIDENTIAL New Flex Monthly Payment Policy Change from weekly to monthly payments An opportunity to streamline payment processes by: Centralized system-based Reducing Targeting faster Invoice processing payments

  1. New Payment Policy CONFIDENTIAL

  2. New Flex Monthly Payment Policy Change from weekly to monthly payments An opportunity to streamline payment processes by: Centralized system-based Reducing Targeting faster Invoice processing payments administrative burden New payment system will Minimizing transactions Urgency in processing ensure that every supplier Invoices due to reduced Is auto-paid, rather than Consolidating the payments frequency of payments by selection from sites from 4 payment cycles per month to once a month

  3. 2016 Payment Calendar Due Date Cut-off Day 1st of every month ● Buyer and Supplier alerts for Blocked Invoices on Days 10th , 17th and 23rd ● ● Last day to clear Blocked Invoices 24th of every month March 2016 April 2016 May 2016 June 2016 July 2016 Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa 1 2 3 4 5 1 2 1 2 3 4 5 6 7 1 2 3 4 1 2 6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14 5 6 7 8 9 10 11 3 4 5 6 7 8 9 13 14 15 16 17 18 19 10 11 12 13 14 15 16 15 16 17 18 19 20 21 12 13 14 15 16 17 18 10 11 12 13 14 15 16 20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 19 20 21 22 23 24 25 17 18 19 20 21 22 23 27 28 29 30 31 24 25 26 27 28 29 30 29 30 31 26 27 28 29 30 24 25 26 27 28 29 30 31 August 2016 September 2016 November 2016 December 2016 October 2016 Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa 1 2 3 4 5 6 1 2 3 1 1 2 3 1 2 3 4 5 7 8 9 10 11 12 13 4 5 6 7 8 9 10 4 5 6 7 8 9 10 2 3 4 5 6 7 8 6 7 8 9 10 11 12 14 15 16 17 18 19 20 11 12 13 14 15 16 17 9 10 11 12 13 14 15 11 12 13 14 15 16 17 13 14 15 16 17 18 19 21 22 23 24 25 26 27 18 19 20 21 22 23 24 18 19 20 21 22 23 24 16 17 18 19 20 21 22 20 21 22 23 24 25 26 28 29 30 31 25 26 27 28 29 30 25 26 27 28 29 30 31 23 24 25 26 27 28 29 27 28 29 30 30 31 Payment Date Invoice Due Date Examples The invoices that are due on May 19th , 31st and June 1st will be paid on the next payment date which is June 2nd The invoices that are due on June 2nd and 3rd will be paid on July 7th The invoice that due on July 5th will be paid on August 4th Please refer to Vendor Portal for detailed Calendar including cut-off dates. This calendar will be updated at the beginning of every quarter

  4. New Monthly Payment Plan Illustration May-29 to Jun-1 Weekly Payment May-1 $3K $2K 2015 USD $9K $9K USD USD USD $8K $8K $8K $8K USD USD USD USD $7K Jun-26 to Jul-1 $6K $6K USD $4K USD USD USD $5K Mar-26 to Apr-1 $5K $4K $4K USD $4K $5K USD USD USD USD USD Apr-2 Apr-9 Apr-16 Apr-23 Apr-30 May-7 May-14 May-21 May-28 Jun-4 Jun-11 Jun-18 Jun-25 Jul-2 Jul-9 Jul-16 Jul-23 Monthly Payment $31K $28K USD 2015 $26K USD USD May-7 Jun-4 Jul-2

  5. Requirements from Supplier for Implementation Appoint supplier point of contact for AP (email, contact information) Establish contact with AP and send Monthly Statement of Accounts (SOA) All invoices should be uploaded via EDI as far as possible Use the Vendor Portal extensively for invoice status (please contact vendor.portal@Flextronics.com for access)

  6. Thank You!

Recommend

Payment on Performance: Payment on Performance: A Policymakers Bumper Sticker - Gary L.

Payment on Performance: Payment on Performance: A Policymakers Bumper Sticker - Gary L.

Payment on Performance: Payment on Performance: A Policymakers Bumper Sticker - Gary L. Sturgess NZ Treasury, Wellington, 8 May 2012 If policy analysts carry bumper If policy analysts carry bumper stickers, they should read: Payment

969 views • 76 slides
Committee on Payments and Market Infrastructures (CPMI) Payment System Policy and Oversight Course

Committee on Payments and Market Infrastructures (CPMI) Payment System Policy and Oversight Course

Committee on Payments and Market Infrastructures (CPMI) Payment System Policy and Oversight Course PMI Policy Staff May 2016 Federal Reserve Bank of New York Important Note The views expressed in this presentation do not necessarily reflect

455 views • 21 slides
ACTION REQUIRED BY July 10, 2020 I. Purpose This Emergency Monthly Payment policy is being

ACTION REQUIRED BY July 10, 2020 I. Purpose This Emergency Monthly Payment policy is being

Department of Human Services Division of Mental Health and Addiction Services Updated Emergency Monthly Payment Policy Under COVID-19 State of Emergency and SFY20 Contract Extension This document supersedes the March 25, 2020 document ACTION

285 views • 5 slides
1 Educate on Prompt Payment requirements Identify root causes of prompt payment

1 Educate on Prompt Payment requirements Identify root causes of prompt payment

1 Educate on Prompt Payment requirements Identify root causes of prompt payment Demystify prompt payment misnomers Know your rights 2 Federal and State law To address the impacts created by delays in payment to

778 views • 36 slides
5/15/2019 Improving the Agenda speed of payment Speed of Payment Introduction under the

5/15/2019 Improving the Agenda speed of payment Speed of Payment Introduction under the

5/15/2019 Improving the Agenda speed of payment Speed of Payment Introduction under the new Prompt Payment Applicability of Prompt Payment Construction Act The Proper Invoice Payment Terms Certification of

357 views • 9 slides
Roles for Government Purchasers in Payment Reform Doug McKeever, Chief CalPERS Health Policy

Roles for Government Purchasers in Payment Reform Doug McKeever, Chief CalPERS Health Policy

Roles for Government Purchasers in Payment Reform Doug McKeever, Chief CalPERS Health Policy Research Division October 30, 2014 1 Roles for Government Purchasers in Payment Reform CalPERS Overview Nearly 1.4 million members More than

149 views • 13 slides
Common Agricultural Policy and direct payment component implementation in Romania Dr. Cristu

Common Agricultural Policy and direct payment component implementation in Romania Dr. Cristu

Departament for European Afaiers Government of Romania Twinning BG 2007/AG/09/UE TWL Common Agricultural Policy and direct payment component implementation in Romania Dr. Cristu CHIRFOT counsellor Sofia, 12 05 2010 1 Overview of

546 views • 16 slides
Decision on Credit Policy and Payment Acceleration Phil Leiber Chief Financial Officer and

Decision on Credit Policy and Payment Acceleration Phil Leiber Chief Financial Officer and

Decision on Credit Policy and Payment Acceleration Phil Leiber Chief Financial Officer and Treasurer ISO Board of Governors Meeting General Session December 16-17, 2008 The stakeholder process has recently concluded for several proposed

136 views • 9 slides
FY 2012 Cycle 1 States August 1, 2012 Agenda Submitting payment review findings information

FY 2012 Cycle 1 States August 1, 2012 Agenda Submitting payment review findings information

HEALTH CARE AND HUMAN SERVICES POLICY, RESEARCH, AND CONSULTING - WITH REAL-WORLD PERSPECTIVE . PETT Payment Submission and Error Rate Calculation Presentation FY 2012 Cycle 1 States August 1, 2012 Agenda Submitting payment review findings

294 views • 15 slides
Health Policy Commission Care Delivery & Payment System Transformation Committee August 13,

Health Policy Commission Care Delivery & Payment System Transformation Committee August 13,

Health Policy Commission Care Delivery & Payment System Transformation Committee August 13, 2014 Thomas P. Traylor Vice President, Federal, State and Local Programs David Beck Vice President & General Counsel Boston Medical Center:

382 views • 13 slides
National Payment Switch D. THAKOOR 23 APRIL 2019 1 ASSISTANT DIRECTOR PAYMENT SYSTEMS

National Payment Switch D. THAKOOR 23 APRIL 2019 1 ASSISTANT DIRECTOR PAYMENT SYSTEMS

National Payment Switch D. THAKOOR 23 APRIL 2019 1 ASSISTANT DIRECTOR PAYMENT SYSTEMS Agenda Con oncep cept t of of P Payment nt Sw Switch itch Retail Payments The current payment landscape The case for a National

251 views • 21 slides
Session 1: Overview of Current and Future Payment Ecosystems Perspective from PSDG, World Bank

Session 1: Overview of Current and Future Payment Ecosystems Perspective from PSDG, World Bank

Session 1: Overview of Current and Future Payment Ecosystems Perspective from PSDG, World Bank W3C Workshop Harish Natarajan Senior Payment Systems Specialist The World Bank 1 Public Policy Objectives in Retail Payments Safety and

379 views • 12 slides
Advance Payment Policy Change Rick Inada Office of Sponsored Projects & Industry

Advance Payment Policy Change Rick Inada Office of Sponsored Projects & Industry

Advance Payment Policy Change Rick Inada Office of Sponsored Projects & Industry Partnerships March 6, 2012 1 Office of Sponsored Projects & Industry Partnerships DOE Advance Payment Change DOE has changed the non-Federal WFO and

565 views • 3 slides
FORHP Policy Updates November 8, 2017 CY 2018 Quality Payment Program Final Rule (Effective

FORHP Policy Updates November 8, 2017 CY 2018 Quality Payment Program Final Rule (Effective

FORHP Policy Updates November 8, 2017 CY 2018 Quality Payment Program Final Rule (Effective 01/01/18) Increases in the low volume threshold to $90,000 or 200 beneficiaries (Part B) Method II CAHs are required to participate

660 views • 62 slides
MassHealth Payment Policy Advisory Board and Medical Care Advisory Committee Executive Office of

MassHealth Payment Policy Advisory Board and Medical Care Advisory Committee Executive Office of

MassHealth Payment Policy Advisory Board and Medical Care Advisory Committee Executive Office of Health & Human Services MassHealth Delivery System Restructuring 1115 Waiver Update November 17, 2016 | 0 1115 Scope and Effective Dates

327 views • 16 slides
Changing landscape of payments in Latvia Aija Zitcere Director of Financial Market Policy

Changing landscape of payments in Latvia Aija Zitcere Director of Financial Market Policy

Changing landscape of payments in Latvia Aija Zitcere Director of Financial Market Policy Department Ministry of Finance Who can provide payment services in Latvia? Banks Credit unions Payment institutions Electronic money institutions

373 views • 4 slides
Healthcare Common Procedure Coding System (HCPCS) Requirements for Rural Health Clinics (RHCs)

Healthcare Common Procedure Coding System (HCPCS) Requirements for Rural Health Clinics (RHCs)

Healthcare Common Procedure Coding System (HCPCS) Requirements for Rural Health Clinics (RHCs) Simone Dennis, RHC Payment Policy Corinne Axelrod, RHC Payment Policy Tracey Mackey, RHC Claims Processing Centers for Medicare and Medicaid

779 views • 57 slides
Care Delivery and Payment System Transformation Committee Health Policy Commission August 13,

Care Delivery and Payment System Transformation Committee Health Policy Commission August 13,

Care Delivery and Payment System Transformation Committee Health Policy Commission August 13, 2014 Agenda Approval of minutes from July 2, 2014, meeting Discussion of Cost Trends Report Discussion of the HPC Accountable Care

568 views • 33 slides
Upfront Payment, Renegotiation and (Mis)coordination in Multilateral Vertical Contracting by IGOR

Upfront Payment, Renegotiation and (Mis)coordination in Multilateral Vertical Contracting by IGOR

Upfront Payment, Renegotiation and (Mis)coordination in Multilateral Vertical Contracting by IGOR Mouraviev Upfront Payment Manufacturer Key features Paid at signature of contract Payment Payment Not related to volume of per unit of

736 views • 28 slides
De lInstant Payment un monde sans cut-off De lInstant Payment un monde sans cut-off

De lInstant Payment un monde sans cut-off De lInstant Payment un monde sans cut-off

De lInstant Payment un monde sans cut-off De lInstant Payment un monde sans cut-off De lInstant Payment un monde sans cut-off Organis par la commission Cash Management International David Hleschewitz Xavier Aublet Agns

1.04k views • 49 slides
Payment D39PZ: Procurement and Contracts 2 Lecture Plan 1. Payment principles 2. Payment under

Payment D39PZ: Procurement and Contracts 2 Lecture Plan 1. Payment principles 2. Payment under

...last week (or things you should now understand) the difference between a certificate and an instruction the difference between an instruction and a Variation the role of certificates in controlling money and time the

874 views • 59 slides
Negotiating Payment Processing Agreements: Key Provisions for Retailers, Banks and Payment

Negotiating Payment Processing Agreements: Key Provisions for Retailers, Banks and Payment

Presenting a live 90-minute webinar with interactive Q&A Negotiating Payment Processing Agreements: Key Provisions for Retailers, Banks and Payment Processors THURSDAY, JULY 20, 2017 1pm Eastern | 12pm Central | 11am Mountain |

1.25k views • 60 slides
TOOLS AND RESOURCES Allison Silvers, MBA Vice President, Payment & Policy Center to Advance

TOOLS AND RESOURCES Allison Silvers, MBA Vice President, Payment & Policy Center to Advance

REVIEW OF ACCELERATOR TOOLS AND RESOURCES Allison Silvers, MBA Vice President, Payment & Policy Center to Advance Palliative Care Accelerator Class 2018-9 Webinar March 8, 2019 Link to Webinar Recording Webinar Recording: How to Use

479 views • 21 slides
Accommodation Arrangement The Department is responsible for the payment of accommodation and

Accommodation Arrangement The Department is responsible for the payment of accommodation and

SUMMARY POLICY FOR THE DEPARTMENT OF ENERGY (TRAVEL & ACCOMMODATION) Accommodation Arrangement The Department is responsible for the payment of accommodation and meals (excluding alcohol, tips and tray charge) to hotels. Any

358 views • 12 slides

More recommend