Did you know the Federal Register, the daily journal of the United States Government is available online at the following link: https://www.federalregister.gov/?
You can also subscribe to receive email notifications from the Federal Register regarding important topics on this site. Many of these notifications are in regards to any updates to the Code of Federal Regulations (CFR). A topic of particular interest to our membership is likely government procurement, which is available at the following link: https://www.federalregister.gov/topics/government-procurement.
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Office Supplies Contract Update
The current VALUE contract for Office Supplies with Office Depot expires on 9/30/2019.
Additional information was sent out to the VALUE membership regarding potential options your agency may be interested in pursuing as this contract comes to an end.
What Does Invoice Processing Cost?
May 7, 2019 by David Millington posted at www.NextLevelPurchasing.com
How to Save Your Company Time and Money on Invoices
You know about all the major costs of purchasing, but it’s the little costs that can add up to really eat away at your bottom line. Incremental, high-volume costs (such as invoice processing) may seem unchangeable; however, new technologies are changing the way this basic process is handled. Not only can these new ways of doing business save you money, but they can also give you more time to focus on other projects that bring real value to your company.
The Trouble With Manual Invoice Processing
Some 90 percent of invoices generated today are still processed manually. Along with manual processing comes human error and delays, an unavoidable part of the paperwork. And even after the invoice is generated, there’s still the matter of entering the same information into the ERP software after the payment is approved. Every minute spent on slow manual entry is a minute that can’t be spent elsewhere.
Dollars and Cents of Invoice Processing
So what does manual invoice processing actually cost? Estimates vary widely: some say it averages $12-$15 per invoice; others peg it as high as $30-$40. The price is driven largely by the underlying costs and (in)efficiencies. Automating the process can bring you in on the lower side, having an unnecessarily complex manual system tends to drive you higher.
Kinds of Expenses
There are several categories of expenses that comprise the total cost of invoicing:
- Direct Expenses. These costs are easy to spot. Paper, postage, and printing fall under this category. This also includes the cost of shipping or storing paper invoices (if you have off-site facilities).
- Indirect Expenses. This includes the human costs of invoicing since the staff is paid to do the grunt work and follow-up tasks.
- Hidden Expenses. These costs may not be as obvious. You can think of errors or delays as expenses because they cost you time that would be better spent elsewhere. Not to mention late fees or lost cash when an invoice is not paid promptly.
Invoicing Cost Calculator
Your individual invoicing costs will vary. Here are the factors that go into figuring those costs::
- How long did staff spend processing and reviewing invoices?
- How long did the staff spend finding and fixing errors?
- What did it cost to ship and store paper invoices?
- What penalties or late fees were assessed?
- What did the physical materials and postage cost?
Divide these costs by the total number of invoices to figure out your cost-per-invoice.
The Automation Alternative
According to the American Productivity and Quality Center, the top 25 percent of businesses spend only $2 per invoice. By contrast, the bottom 25 percent spend more than $10 per invoice. The big difference between them was in whether they automated their invoice processing.
Using purchasing software to automate your accounts payable processes:
- Takes the paper out of the equation entirely.
- Keeps labor costs low.
- Reduces errors and fraud.
- Gets approvals faster.
- Frees up time for your staff to do higher-level tasks.
The end result is much less expensive, much more reliable invoice processing.
If you don’t know what you’re paying per invoice, now is the time to find out. Armed with that information, you can take steps (such as streamlining or automating) to reduce costs and make life easier for yourself, your staff and your whole company.
Minutes of the VALUE for Local Government Inc.
Planning Committee - August 21, 2019
New and Ongoing Business
Treasurer’s Report – presented by Duane McKinney
New Members – None.
Update on use of Skype for Future Meetings
A phone conference line is being set up by Matt and will be available for members to call in to participate in the Learn from you peers or bring an issue to discuss portion of the VALUE meeting for September. Matt will provide Jen with an email message where members can reach out to him in advance to get the call in information. We are taking this approach to gauge interest from membership in participating.
Member Survey Discussion
The two largest areas of improvement for member satisfaction which came out of the survey were, providing information concerning free educational resources and opportunities, as well as allowing participation in the learning session of monthly VALUE meetings remotely. Both of these items are coming to fruition beginning in September. Education and information resources will be distributed in the monthly newsletter and portions of the meetings will be accessible via telephone conference line. Meetings will potentially be available via video or skype in the future, pending interest and attendance from membership.
WAPP Budget for March Meeting
WAPP provided Matt with a budget for the spring 2020 meeting. The group went over the numbers and discussed the appropriate path forward considering the trend of lower revenues and higher expenditures.
Learn From Your Peers or Bring an Issue to Discuss
Tipping for Juror Meals – Catherine wanted to know if other entities pay for/allow tipping for juror meals. No one knew without looking at their associated policies, but would think it is included.
Beer and Spirits – Catherine Martin inquired as to how other entities procure beer and spirits for resale, considering that some items sell better than others and patrons have particular preferences. Some entities sole source because of regional distributors only providing product to their areas. Others states that resale items are exempt per their ordinance.
Federal Emergency Management Agency (FEMA) Reimbursement – Catherine inquired how other entities manage their FEMA procurements and related policies. Specifically, if you can get reimbursed for cooperative purchases or if it requires a contract clause/rider. Matt stated that the purchase is reimbursed based upon the need, not where it was purchased. It is logistics based upon the Federal form and checklists. He suggested Catherine reach out the her regional contract for further guidance.
Scope of Service/Work Review by outside party –Jen has a department who wants to send their scope of work for an RFP out to a consultant/volunteer/citizen who has extensive past experience and expertise in the area of interest and is willing to review and provide feedback to the County at no cost. This individual also has no apparent conflict of interest and will not be proposing on the RFP. She is wondering if others would allow the review of the documents without an official agreement. Attendees said they would allow it.
The next VALUE monthly planning meeting will be held on Wednesday, September 18 at West Allis City Hall, Room 128 from 8:30 am until 10:30am.
Updates to State of Wisconsin contracts are issued weekly by the State of Wisconsin. VALUE is reprinting some of the weekly information received as a courtesy to our members.
The following contracts have been updated for the week of 9/03/19 – 09/06/19:
505ENT-M19-BOOKPRINT-00 Class 3 Printing of Book Publications Bound and/or Collated
LOT A bid rate change is now -28.8%. Please use the updated DOA-3077.
505ENT-M19-COLDSET-01 Class 3 Printing of Cold Set Web Booklet Publications Collated and/or Bound in Digest, Magazine, or Tabloid Sizes
Please use the updated DOA-3077. LOT 3A bid rate changed to -28.8%.
505ENT-M19-HEATSET-01 Class 3 Printing of Heat Set Web Booklet Publications Collated and/or Bound in Digest or Magazine Sizes
Please use the updated DOA-3077. LOT 3A bid rate changed to -28.8%.
505ENT-M15-FLAGSPPLIS-00 Flags - Statewide Use
Updated links to pricing on Quick Guide.
505ENT-M19-RATECERT-00 Class 5 Legal/Public Notices: Rate Certification Program
Certification Rates Bulletin updated for September 2019
505ENT-M19-TIRES&TUBES-00 TIRES, TUBES & SERVICES for pursuit/performance, passenger, light-medium-HD trucks, bus, off-road, ag/farm, and industrial vehicles-equipment
Updated Goodyear Authorized Dealer List
505ENT-M16-DATACOMMUN-01 NASPO ValuePoint contract for Data Communication Equipment and Services
Revised Exhibit C: Fulfillment Partner Discounts. 3 Vendors dropped
The following contracts have been updated for the week of 8/26/19 – 08/30/19:
505ENT-O18-NASPOTRAVEL-01 NASPO ValuePoint Travel Management (Agency) Services
Contract has been renewed through August 15, 2022
505ENT-M18-ENVELOPES-00 Class 8 Printing and Manufacturing of Envelopes: Commercial, Catalog, and Booklet Sizes
Western States contract has now expired. Please send all LOT A jobs to Cenveo.
For LOT A the point of contact is changed to Sandy Moneysmith. Please refer to the vendor information file for contact information.
505ENT-O19-COURTREPORT-00 Court Reporter Services and Transcription Services
This contract has been extended utilizing the first of two one-year renewals. Contract renewal end date is 08/31/2020.
TransPerfect Legal Solutions has chosen to not renew their contract and have been removed.
Transcription Plus, LLC did not respond and has been removed from the contract.
The contract for Braden Undeland is being routed for signatures and will be added once contract has been signed.
ALL OTHER TERMS AND CONDITIONS REMAIN THE SAME.
505ENT-M18-MOVSTRGSVC-00 Moving and Storage Services – Statewide
Updated Quick Start Guide.
505ENT-M15-MFDCOPIER-00 Copiers and Related Devices
Updated Canon Reseller list.