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United States mandates use of e-Invoicing by 2018

Tuesday 8th September, 2015

The United States will be moving towards e-invoicing after the country’s Office of Management and budget (OMB) issued a deadline by the end of 2018.

Currently, 40% of the 19 million invoices the federal government receives annually are processed and managed electronically.

Agencies will be required to use a shared service provider for e-invoicing, as part of the agreement a Shared services governance model. This follows a successful four year pilot at the Department of Treasury.

Contractors may be required to submit invoices electronically, if they are not already doing so. But e-invoicing on the government side should speed up accounting approvals and the payment process for federal contractors.

 

"Electronic payments, obviously, give you the heightened accuracy, the prompt payment and the quick movement of payment of invoices from invoicing to cash in the bank," said Dave Mader, the controller and acting deputy director for management at OMB in a Federal News Radio interview.

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