Treasury to set up Internet Payment Platform

The Treasury Department soon will launch its Internet Payment Platform with an aim to eliminate paper filings and also speed up research for federal employees, according to a new notice.

Department officials plan to put the platform in place by the end of September. All new payment requests in fiscal 2013 will be processed in the centralized electronic invoicing and payment information system, the Federal Register notice states. The notice was released July 9.

The platform is a secure web-based system that processes vendor payment data electronically and automates the routing and approval workflow within an agency.

Officials hope to stop filing and storing paper payment documents. They also want to reduce the amount of time workers spend in researching and answering payment status questions. The new platform would provide visibility into contract payments for vendors and departments.

It would also increase transparency in the overall payment process.

Officials amended the Department of the Treasury Acquisition Regulation (DTAR) to implement the system.

Besides department employees, officials expect the platform to reduce the time it takes to make a payment. It also creates a standard set of electronic data to submit payment requests to the government. Officials said the platform can save money on postage costs while improving cash management by eliminating things like routing documents.

The platform also could reduce the costs of dealing with multiple processes and requirements.

However, officials noted that the payment history feature in the platform is intended to provide a convenient reference for contractors, not to relieve contractors of existing record keeping requirements.

About the Author

Matthew Weigelt is a freelance journalist who writes about acquisition and procurement.

Rising Stars

Meet 21 early-career leaders who are doing great things in federal IT.

Featured

  • SEC Chairman Jay Clayton

    SEC owns up to 2016 breach

    A key database of financial information was breached in 2016, possibly in support of insider trading, said the Securities and Exchange Commission.

  • Image from Shutterstock.com

    DOD looks to get aggressive about cloud adoption

    Defense leaders and Congress are looking to encourage more aggressive cloud policies and prod reluctant agencies to embrace experimentation and risk-taking.

  • Shutterstock / Pictofigo

    The next big thing in IT procurement

    Steve Kelman talks to the agencies that have embraced tech demos in their acquisition efforts -- and urges others in government to give it a try.

  • broken lock

    DHS bans Kaspersky from federal systems

    The Department of Homeland Security banned the Russian cybersecurity company Kaspersky Lab’s products from federal agencies in a new binding operational directive.

  • man planning layoffs

    USDA looks to cut CIOs as part of reorg

    The Department of Agriculture is looking to cut down on the number of agency CIOs in the name of efficiency and better communication across mission areas.

  • What's next for agency cyber efforts?

    Ninety days after the Trump administration's executive order, FCW sat down with agency cyber leaders to discuss what’s changing.

Reader comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

More from 1105 Public Sector Media Group