Transcript William & Mary efficiency

SPCC Online Reconciliation(OLR)
Office of Procurement
February 2014
Orientation: Why are we here?
o The William & Mary Promise:
"The Promise calls on the whole William & Mary family to contribute in the ways
each of us can contribute: students through tuition, alumni and friends through
philanthropy, and faculty and staff through productivity gains in our work on campus.
We will all benefit from our common success.“ Taylor Reveley, 12/17/2013
o Process Efficiency: Remove duplicated efforts, simplify and streamline the
reconciliation process, post better data to Banner, and eliminate paper.
o Further Reduce Administrative Costs: SPCC vs. Purchase Order
o Results of the 2012 RPMG Purchasing Card Benchmark Survey show that
organizations realize significant costs savings by moving payments from
traditional PO processes to the Small Purchase Charge Card.
o Average administrative costs per order based on RPMG Survey
o Purchase Order-based process - $91
o SPCC procure to pay process - $ 17
o Administrative cost savings per SPCC order - $74
SPCC vs. PO Transactions: What If?
27,000
SPCC Transactions
26,000
25,000
24,000
23,000
22,000
21,000
20,000
Total
$2,500,000
FY 2010
FY 2011
FY 2012
FY 2013
22,465
24,647
24,890
25,881
$2,355,171
$2,264,990
$2,242,877
$2,044,315
$2,000,000
$1,915,194
$1,841,860
$1,823,878
$1,662,410
$1,500,000
$1,000,000
$500,000
$381,905
$418,999
$423,130
$439,977
FY 2010
FY 2011
FY 2012
FY 2013
$0
Procure to Pay Administrative Costs (PO)
Procure to Pay Administrative Cost (SPCC)
*Average administrative cost includes sourcing, purchasing, and payment activities
Cost Savings by Moving from PO to SPCC
Added Program Benefits
o Transactions will automatically map to index and account codes (editable)
o Transactions will post to Banner faster and show more information (description)
o New user interface (Works 4.0) – http://payment2.works.com/works
o Automated reporting for Cardholders, Supervisors, Accounts Payable, and
Sponsored Programs
o The first Higher Ed. in the Commonwealth to utilize the bank’s receipt imaging
software
o Increases accountability & visibility of cardholder transactions
o Funds are withheld if reconciliation is not complete
What is Online Reconciliation?
o OLR replaces the paper reconciliation process with an online process
o A transaction posts to the bank,
o Automated notification email is sent to the Cardholder,
o Cardholder logs into the bank’s online system to perform allocation, receipt
imaging and sign off,
o Automated notification email is sent to the Cardholder’s Supervisor/Reviewer,
o Supervisor/Reviewer logs into the bank’s online system to review the
transaction and sign off,
o Transactions are reviewed by Procurement, Accounts Payable and Sponsored
Programs for accuracy and compliance.
o Transactions are batched and uploaded to Banner.
OLR Timeline
Schedule for allocation, receipt imaging, file transmission, and Banner upload.
o Throughout the billing cycle, Cardholders place transactions – Cardholders
and Supervisors complete allocation, receipt imaging and signoff.
o The billing cycle closes ~ 15th of the month.
o Automated reports are delivered to Cardholders and Supervisors 2 days after
cycle close.
o Cardholder and Supervisor allocation, receipt imaging and sign off must be
finalized by 23rd.
o Transactions are reviewed by Accounts Payable, Procurement and Sponsored
Program from the 23rd through the 28th.
o A transaction file is transmitted to W&M around the last day of the month for
upload to Banner.
Works 4.0 Overview (Cardholder)
Use the navigation bar to search
through expenses or view/create
reports.
Items requiring your action
will appear in the Action
Items section of the page.
Your SPCC account will
appear in the Accounts
Dashboard section of the
page
Upon login you will
land on the Works
home page.
Cardholder Action Items:
Signing off on transactions
As transactions post
to your account they
will appear as
transactions
available for sign off.
In this example,
the cardholder has
2 transactions
pending sign off.
Click on the Pending
link to view the
transaction detail and
sign off on the
transaction.
Cardholder Action Items:
Signing off on transactions
Clicking on the Pending link will bring you to the
Expenses screen where you can review transactions
pending sign off.
Click on the document
number to access the
transaction’s submenu.
Notice that the transaction has
automatically allocated to a default
index and an account code based
on the vendor’s merchant category
code (MCC).
From this sub-menu you can view the transaction
details, reallocate the transaction, sign off on the
transaction, attach a receipt, or dispute the charge.
Allocating Transactions
Enter a description for the
transaction. This description
will be loaded to Banner.
You can allocate to multiple index
and account codes by adding or
duplicating a line and entering the
accounting information.
You can change the default index or
account code by typing the new code or
selecting it from a pick-list. Descriptions
are provided for all codes.
Click the Save button then Close when finished.
Attaching Supporting
Documentation
To add supporting documentation to a transaction,
click the check-box next to the transaction and select
the Manage Receipts option from the sub-menu.

A pop-up box will then appear where you can add a
new receipt by uploading a file from your computer.
Comment and Sign off
Click the Sign Off button when allocation is complete and you have added a receipt.
A comment box will pop-up after you click
the Sign Off button. Add any information the
Supervisor/ Reviewer might need to approve
the transaction. (examples, PCO numbers,
detailed description of transaction,
confirmation of receipt of goods or services,
etc.)
Click OK to route to the Supervisor/Reviewer.
Supervisor / Reviewer Sign Off
Upon login the Supervisor/ Reviewer will
see the same Works home page showing
items requiring review.
In the Action Items box, you
will see transactions that you
have flagged as well as
transactions ready for sign off
and reports ready to
download.
To signoff on items, click on
the Pending link in the Action
Items box.
Supervisor / Reviewer Sign Off
Clicking on the Pending link will bring
you to the Expenses screen where you
can review transactions pending sign off.
Click on the document number to
access the transaction’s sub-menu.
Clicking on the Sign Off item will show
the Sign Off pop-up box.
Clicking on the View Full Details item
will bring you to the transaction details.
This is an example of a
flagged transaction.
Transaction Details
At the top of the Transaction
Detail screen you will see
general transaction data.
The next section
will show allocation
information.
Click on the Receipts tab
to view the attached
receipt.
Use the Actions drop-down arrow
to sign off.
Followed by transaction reference and tax information.
The Transaction Detail section will show the
individual items purchased. Transaction
detail will not be available for all transactions.
Click the Save
button if you made
any changes.
Navigating Works 4.0
http://payment2.works.com/works/
Go-Live!
o Questions?
o Call me or email with feedback and questions!
o Additional Training Needs
o Thank you!
o Pilot Program Participants
o Accounts Payable
o Information Technology
o VIMS Office of Finance
o Sponsored Programs
o Bank of America and Department of Accounts