The Treasury Department expects to begin using the online Invoice Processing Platform departmentwide by the end of September, the agency announced.

All new payment requests at the department in fiscal 2013 will be processed using the Web-based payment platform, according to a Federal Register notice.

The platform is a secure Web-based electronic invoicing and payment system to process vendor payment data electronically, either through a Web-based portal or electronic submission. The system automates routing and approval workflow within the agency.

Currently, 41 federal agencies, including the Interior Department and Treasury’s Bureau of Engraving and Printing, use the online service. Another 11 agencies, including the Treasury department, are in the process of deploying it.

The platform is being provided by Treasury’s Financial Management Service through its fiscal agent, the Federal Reserve Bank of Boston. There is no charge to vendors or to government agencies using the platform.

Benefits of the platform include eliminating paper documentation, reducing time for checking on payment status and department-wide visibility into contract payments.

"IPP benefits vndors by reducint time to payment, creating a standard set of electronic data to submit payment requests to the federal government; reducint costs from having multiple processes and requirements; reducing paper and postage costs; improving cash management by eliminating the time delays associated with submitting and routing paper; and increasing transparency in the payment processes," the notice stated.

Treasury is offering webinars and video training for using thenew system, along with a user guide and customer support by email and phone.

Officials amended the Department of the Treasury Acquisition Regulaton to implement the new system.

For more information: Treasury Federal Register Notice:
http://www.federalregister.gov/articles/2012/07/09/2012-16407;department-of-the-treasury-acquisition-regulation-internet-payment-platform
Invoice Processing Platform: https://www.ipp.gov