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Cloud Technology Elevates P-Card Utility in Government
Restrictions regarding the use of government procurement cards extend well beyond the micro-purchase threshold (MPT). Agency-imposed restrictions on the purchase of property items, IT peripherals, telework supplies, and restricted-use items further limits the intended utility of P-Cards. The push for commercial best practices in procurement suffers as a result.
Fraud, waste, and abuse are often cited as the drivers surrounding regulatory or agency-imposed restrictions. IG reports routinely highlight weak areas within P-Card Programs that could expose opportunity for misuse. These concerns are also expressed during ongoing discussions to determine if the temporary MPT of $10,000 established during the pandemic should be made permanent.
“Fortunately, there is a COTS SaaS solution currently in FedRAMP assessment that changes the conversation” says Mike Tocci, President of Paperless Innovations, Inc.
“We now have 100% Accountability, Compliance and Transparency in every transaction conducted using our Actus Procurement Automation solution for SmartPay programs throughout the government.”
Major developments in the use of artificial intelligence and robotic process automations developed in Commercial Off the Shelf (COTS) technology provides government stakeholders with tools to oversee regulatory compliance and the ability to quickly procure mission-critical supplies and services using P-Card.
The Actus COTS solution, as an example, delivers automated approval workflows, digital data for finance and procurement decision-makers, and oversight for complete auditability at the item level.
“Providing cloud-based authentication, security, process controls, and oversight on all transactions prior to every purchase restores the P-Card to its original purpose as a rapid payment tool,” Tocci continued. ”With Actus, utilization of SmartPay P-Card programs will increase dramatically when as much as 90% of an Agency’s obligations can be automated, settled, and audited within 3 days of invoice.”
About Paperless Innovations
Our objective is to promote the universal adoption of secure and scalable technologies—developed to increase accountability, compliance, and transparency in acquisition. Solving big problems requires an advocate for integrity, empathy, and intellect with a strong desire to create positive change for all stakeholders.