Treasury announces plan for invoice portal

The Treasury Department will install an electronic invoice processing system named the Internet Payment Platform (IPP) by the end of fiscal 2012, reports Federal News Radio.

IPP will give vendors, who are required to begin using the platform by 2013, instant access to their invoice status online, the article said.

The installation is estimated to save $7 million per year, improve processing time and expedite the vendor payment process.

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