As a vendor, who provides class packets to be sold in bookstores, we just got paid for Fall 2019 in May, and no indication when Winter or Spring semesters bills will be paid. Follett sold our product, has our money, and wont pay us. Really bad business!
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They are at it again! Still waiting to be paid for books they sold months ago!
I have been working for 3 weeks & haven’t got one paycheck yet…I’m definitely gone sue these mfs
We have changed their terms on all of their stores to prepay. After doing so we got a notice from the credit department stating we owed them money from a credit note from 2006 (15 years old) that they claimed we didn't pay them. They didn't pay the original invoice so why would we pay them for the credit note? Just another sign that they are hurting for cash flow.
They outsource their AP to India. Our reps emails are hard to read with broken English.
And to the person who stated invoices are not paid because they are inconsistent, I have been told specifically that their stores do not forward any invoices to the AP department. It isn't in the work flow description for them to do so.
They're doing the same thing to one of my college's vendors, which is why I looked up and found this thread. They're basically playing with our student's success and that smacks of a lack of ethics like I've never seen from them.
You’re not the only company that hasn’t been paid. Leverage and debt is a death sentence when revenue drops. Good luck collecting. Colleges aren’t completely in, limited football, k-12 schools aren’t buying and public library budgets have been cut or put on hold. Limited revenue streams mean vendors won’t be paid on time if at all.
Pay attention folks, "we just got paid for Fall 2019 in May". This is called cash flow and using other peoples money for free.
Reading this site, it is obvious that Follett screws its employees, its customers and as you know the vendors. If you don't get your money now you will be standing in the long vendor line at the bankruptcy.
I used to work in AP until I was laid off. Follett will only respond to you if you put all stores on hold or require prepayment which is common with their vendors. Follett has to answer to the schools and the will pay you if they can't get course materials because schools will complain.
My guess is you're on double secret probation. The guys in Animal House (originating at TCU) have made their own rules. They're double secret, too. I have you sought help from a high voodoo priest (or priestess)?
Probably the same "class packets" that reps "help" store managers order...
Ha, ha! Too funny @1hko+15QcePYS. When DF came on board that was the smart policy he brougt with him, net 60, net 90, net 120, net never. No problems with invoicing. I know one vendor for sure that told Follett, pay up or no more business with us. Longer Follett holds on to their cash, the better off they are.
My guess is that you have not been paid because your invoices are inconsistent with what you actually send and you are also probably not very good at forwarding invoices to stores. I would bet you not being paid is as much on you as it is on Follett.
This is a DF scheme brought to full fruition. Now it's net never. Tread lightly vendors - don't be surprised if they offer .10 cents on the dollar to settle - Because of the Covid. Take it or leave it.
The non-payment to vendors idea was hatched BEFORE the pandemic hit. Now they have an excuse to renege on payments. It's best to cut ties with Follett as a business partner because they are NOT a partner.
HAVE YOUR ATTORNEY SEND A COLLECTION LETTER TO FOLLET TO GET QUICK PAYMENT. DO NOT DELAY OR YOU WILL NOT GET PAID.
Working for or selling to follett is a good career move?
You believe it’s appropriate to post an AR/AP issue on this site? 80-90% of companies are managing an unmanageable cash flow situation. Those that find a mutually agreeable way to work through this will survive. Those that resort to public shaming probably will not. Follett’s customers aren’t paying us either. None of us here are publicly shaming them. We’re trying to figure out how to walk the tight rope of pay and get paid until schools reopen.