As part of President Obama’s “Campaign to Cut Waste” across the entire federal government all Treasury Bureaus must implement an e-invoice processing solution (IPP) by the end of 2012. In 2013 commercial vendors must submit their invoices using the IPP.
It is expected that this initiative improves government efficiency and cut costs for taxpayers of $450 million per year. Moreover, vendors using IPP receive quicker payments, receive greater assurances that their invoices are received and processed accurately, and have immediate online access to their invoice status for all agencies using IPP.
The US Treasury is working together with the Department of Defense to identify a single-entry point for all vendors to go paperless and follow one set of government standards for invoice submission instead of unique requirements for each agency.
The Department of Defense agency specific solution, Wide-Area Workflow, is used by more than 92,000 vendors to submit more than 7 million invoices a year and is already saving taxpayers a staggering amount of $250 million annually.