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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!

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