IPP provides many benefits to federal agencies and their vendors. It saves taxpayer dollars through more efficient invoice processing, improves financial management, and makes it easier for vendors to do business with government.
Federal Agency Benefits
Federal agencies can save time and money by adopting IPP.
- Saves time by automating a formerly paper-intensive procurement process.
- Available at no charge to federal agencies.
- Helps federal agencies avoid Prompt Payment penalties and capture early payment discounts.
- Supports paperwork reduction initiatives.
- Leverages cloud computing best practices to help federal agencies comply with the federal “cloud-first” policy.
IPP makes it easier for vendors to do business with the government.
- Offers multiple options to create and submit invoices electronically.
- Provides greater visibility into all transaction data and documents associated with a PO.
- Self-service features save time by enabling vendors to quickly answer payment-related questions.
- Available at no charge to vendors.
- Enables vendors to better manage their cash flow projections.