March 21, 2024

Highlights:

• Updated bidding threshold from $5,000 to $10,000 in Purchasing Policy
• Improvements to the change order process
• Faster processing times for Confirming Orders
• New supplier onboarding portal in the works
• Join us on Wednesday, March 27, at the ProcureExperience & SupplierExpo!

Drexel's Accounts Payable and Procurement Services department has made several policy and process changes with the goal of increasing operational efficiency. In addition, we are inviting all faculty and professional staff to join us for the ProcureExperience & SupplierExpo on Wednesday, March 27, at the Health Sciences Building. Please see details below.

Purchasing Policy Update

The Purchasing Policy has been reviewed, benchmarked with policies at other peer institutions, and updated in the following ways:

• Increase of bidding threshold from $5,000 to $10,000: Purchases of $10,000 and over must be competitively bid unless justified as a sole source, allowing additional autonomy for departments to proceed with lower-dollar purchases without obtaining multiple bids, and reducing requisition processing times for these lower-dollar purchases.
• As always, we encourage everyone to seek competitive pricing regardless of the dollar amount and include that information on your requisitions.
• Removal of formal RFP (requests for proposals) threshold, previously $25,000, and informal bid threshold, previously $5,000, in favor of a single $10,000 threshold. The best bidding method (quotes vs. RFP) will be determined by Procurement Services in consultation with the requesting department.

Change Order Process Update

Change request functionality for Purchase Orders (POs) has been improved as follows:

• Change order requests may now be made directly from the Purchase Order; the current PO Change Order form will no longer be available as of April 1, 2024.
• PO Closures may now be requested through the new change request feature; no need to request closure via email. To assist you in navigating this new functionality, we have prepared a Change Request Job Aid [PDF] providing step-by-step instructions on how to submit changes to your purchase order using the new feature.

Confirming Order Process Update

Confirming order requisitions no longer require Sourcing workflow approval but will continue to be monitored by Sourcing and reviewed by Accounts Payable prior to payment. There is no change on the requester’s end when submitting a confirming order.

• Eliminates a redundant step in the requisition review process, which allows for faster payment of invoices.
• Allows Sourcing to strategically monitor confirming order requests to ensure they are within policy; quarterly compliance reports will be provided to relevant departments for review with the Sourcing team.
• Confirming orders remain permissible only for emergencies and other pre-approved circumstances.

PaymentWorks Implementation

Procurement Services is in the process of implementing a new supplier onboarding portal known as PaymentWorks, which provides a more user-friendly interface, safeguards supplier payment information, automatically validates supplier information such as tax identification information, generates W9s based on supplier information entry, and allows Drexel to offer flexible payment options such as early-payment discounts and virtual credit card upon registration. Additional information will be provided as we get closer to launch in the coming weeks.

ProcureExperience and SupplierExpo on March 27

Learn more about all of these exciting changes at our “What’s New in Accounts Payable and Procurement: Enhanced Workflows and Innovative Processes” breakout session at next Wednesday’s ProcureExperience and SupplierExpo. Register and select your breakout sessions.