Today, when going through our daily heap of posts on e-invoicing, AP automation, e-procurement (and loads more), we ran into this retweet by Peter Loughlin from Purchasing Insight:
The Improper Payments Elimination Recovery Act of 2010 (IPERA)
So what is going on here? Well, first President Obama signed the Improper Payments Elimination Recovery Act of 2010 (IPERA) with the goal of reducing the federal government’s improper payments. And guess what, electronic invoicing is the leading technological solution to prevent improper payments by eliminating error-prone manual processing.
To comply with IPERA, the US Department of Veteran Affairs is finalizing actions to mandate electronic invoice submission to the VA Financial Services Center (VAFSC). A Federal Register proposed rule mandating electronic invoice submission is pending publication.
The VAFSC has expanded its electronic invoicing services through OB10 provided solutions. OB10 electronic invoicing services, including mapping/transaction fees, are free to VAFSC vendors.
OB10 offers simple and secure solution to eliminate the cost and time of processing paper invoices. The benefits of e-invoicing the VA using the OB10 service include:
- Delivery of invoices directly into the FSC payments system and routed nationally for approval
- Elimination of mail processing time, postage, and invoice receipt inquiries
- Elimination of data errors and lost or misplaced invoices
- Verification of invoice receipt and rejection through automated status reports
- No installation of hardware or software required
Read more here: Electronic Invoicing through OB10