DOI’s invoicing process.” PROCESSING PAPER …HOW CAN IPP SIMPLIFY INVOICING? IPP offers four...
Transcript of DOI’s invoicing process.” PROCESSING PAPER …HOW CAN IPP SIMPLIFY INVOICING? IPP offers four...
ARE YOU STILL PROCESSING
PAPER INVOICES?
The Invoice Processing Platform (IPP):
• Savestaxpayerdollarsthroughmoreefficientinvoiceprocessing.
• Improvesyourfinancialmanagement.
• Makesiteasiertodobusinesswithgovernment.
There’s a better way.Don’t waste another minute chasing paper. Adopt IPP!
Formoreinformation,visitwww.ipp.gov.
WHO’S USING IPP?
Thereare81federalentitiesusingIPPandanadditional21have selectedIPP.Over108,000vendorsareenrolledinIPP.
For a growing list of agencies using IPP, please visit www.ipp.gov.
HOW DOES IPP DIFFER FROM OTHER ELECTRONIC INVOICING SYSTEMS? • It’sprovidedatnochargetofederalagenciesandtheirvendors.
• It’sspecificallydesignedforfederalagencieswiththeirinputandtailoredtogovernmentprocesses.
• It’spartoftheOfficeofManagementandBudget’sSharedFirstInitiative.
• It’ssupportedbytheTreasuryDepartment,whichoverseesallIPPenhancementsandupgrades.
• Itinterfaceswithallmajorfinancialsystemsviabulkfileexchange.
• Itprovidesasecure,independentplatformwithstandardprocessestoefficientlymanageinvoices.
• ItprovidesdetailedremittanceandTreasuryoffsetinformation,makingiteasierforvendorstomatchpaymentstoindividualinvoices.
• Itprovidesoneservicethatallowsvendorstotransactwithmultiplefederalagencies.
“IPP has streamlined and standardized the DOI’s invoicing process.” – Becky Reilly, IPP Project Lead,
Department of the Interior
“The support team has been outstanding. They’ve bent over backwards to help us.”
– Bob Deans, Manager of FinancialSystems, Bureau of Engravingand Printing
June 2017
TheInvoiceProcessingPlatform(IPP)isaU.S.Treasuryservicethatmoreefficientlymanagesgovernmentinvoicingfrompurchaseorder(PO)throughpaymentnotification,atnochargetofederalagenciesandtheirvendors.
WHY ADOPT IPP? It saves time and money.Withmoreefficientinvoiceprocessing,federalagenciescanavoidPromptPaymentpenaltieswhileautomatinginvoicereceipt,validationandapprovalworkflows.Vendorscanmanagetheirreceivablesmoreeasilyusingoneservicetotransactwithmultipleagencies.
It improves financial management.IPPmanagesgovernmentinvoiceswithincreasedcontrolsandsupportspaperworkreductioninitiatives.Inadditiontoreducingoverbilling,IPPalsopartnerswithTreasury’sDoNotPaybusinesscentertohelpprevent,reduceandstopimproperpayments.
It makes it easier for vendors to do business with government. IPPisconfigurabletosupportagencybusinessrulesandcomplementsagencies’existingsystems.Italsoprovidesaconsolidatedviewofalltransactiondata—fromPOtopayment—inoneplace.
OTHER KEY BENEFITSOnefederalagencyreducedthecostofprocessingundisputedanddisputedinvoicesby54percentand43percent,respectively.TheTreasuryDepartmentestimatesthatbyadoptingIPP,thefederalgovernmentcanreducethecostofenteringinvoicesandrespondingtoinvoiceinquiriesby$450millionannually.
IPPreliablysupportshightransactionvolumes—In 2016, IPP provided notification of five million payments and processed nearly 423,000 invoices.
IPPprovidesasecureplatformforfederalagenciesandvendorstoefficientlymanageinvoicesoutsideagencies’corefinancialsystems.
HOW CAN IPP SIMPLIFY INVOICING? IPPoffersfourmodulesfederalagenciescanadopttogether,aloneorinphasestoachievemoreefficientinvoiceprocessing:
1. Purchase Orders.IPPuploadsPOsfromagency’sbusinesssystems,notifyvendorswhentheypostanewPOandgivevendorsonlineaccesstoPOs,whichresultsingreatervisibilityintoalltransactiondataanddocumentsassociatedwithaPO.
2. Invoices.IPPgivesvendorsmultiplewaystosubmitinvoices,suchasbypre-populatinginvoiceswithdatafromPOswithinthesystem,creatinginvoicesonlinewithoutaPOorusingelectronicfilesubmission.IPPthenscreensvendorinvoicesagainstagencybusinessrules,automaticallyflagginganyareasthatdonotcomplyforvendorstocorrect.
3. Workflow.IPPautomatesandsupportsasophisticatedinvoiceapprovalprocessbyofferingmultipleapprovalstepsandoptionstodelegate,reassignorescalateaninvoiceifitisnotprocessedpromptly.
4. Payment Notification.Vendorscangoonlinetocheckpaymentstatus,orchoosetoreceivee-mailswithasimplenotificationofpaymentordetailedremittanceinformation.Thisservicereducespaymentstatusinquiriesandenablesvendorstomoreeasilymanagetheirreceivablesandmatchpaymentstospecificinvoices.
WHAT SUPPORT SERVICES ARE AVAILABLE?
The IPP team offers the following support services at no charge:
• Agencyimplementation,projectmanagementandtraining
• Customerservice/helpdeskforagenciesandtheirvendors
• Applicationupgradesandenhancements
• Vendoroutreach,analysis,enrollmentandmanagement
• Businessprocessanalysis
• SecurehostingbyTreasurywithdisasterrecovery
“Using IPP is like moving from paper checks to online banking—federal agencies can pay invoices faster using fewer resources.”
– Sheryl Morrow, Commissioner, Bureau of the Fiscal ServiceU.S. Department of the Treasury WHAT ARE THE KEY
IMPLEMENTATION STEPS?
FEDERAL AGENCIES
1. ScheduleaninitialconsultationandcompleteanAgencyImplementationSurvey.
2. SignanAgencyParticipationAgreement.
3. Establishaprojectteam.
4. Conductakick-offmeeting.
5. Beginprojectdiscoveryandplanning.
6. SelectIPPmodules.
7. Configuremodulesandimplementinterfaces.
8. Conductqualityassuranceanduseracceptancetesting.
9. Invitevendorstoenroll.
10. Golive!
VENDORS
1. Receiveaninvitationtoenrollfromafederalagency.
2. Completeonlineenrollment.
3. StarttransactingviaIPP.
It’s easy to adopt IPP. For more information, visit
www.ipp.gov.