The US Office of Management and Budget has mandated that all Government agencies must move to an approved B2G e-invoicing system by the end of fiscal year 2018. Why? As stated in the memorandum, the goals are: “reducing fraud, waste, and abuse; modernizing citizen facing services; and strengthening Federal acquisition practices to reduce red-tape, and provide greater benefit for taxpayer dollar. Without a doubt, this makes sense.
The U.S. Federal Government is the largest single purchaser of goods and services in the United States. It processes over 19 million invoices per year about 60% of which are still processed in paper.
In the mandate each individual government agency must choose one of two paths. First, they can outsource their procurement systems to an outside Federal Shared Services Provider (there are several already in existence) or they can implement a P2P system already approved by the OMB.
Instead of trying to single-handedly develop, integrate, test and maintain these costly integrations, by implementing Order2Cash, suppliers will be able to “flip a switch” and integrate automatically with the different agency systems.