The U.S. Department of the Treasury estimates that by adopting IPP, the federal government can reduce the cost of entering invoices and responding to invoice inquiries by $450 million annually. One federal agency reduced the cost of processing undisputed and disputed invoices by 46 percent and 54 percent, respectively.
Federal Agency Benefits
IPP adoption brings many benefits to federal agencies. It saves taxpayer dollars through more efficient invoice processing, improves financial management and makes it easier for agencies to conduct business.
- 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
- Partners with Treasury's Do Not Pay business center to help agencies prevent, reduce and stop improper payments