The U.S. Army expects to launch an online government invoicing platform in November to comply with the Department of the Treasury’s requirement to modernize the management of intragovernmental buy and sell transactions as part of efforts to improve the transparency and accuracy of sales and procurement.
“G-Invoicing is the future of intragovernmental transactions. Successful implementation of the tool will only occur through steadfast collaboration and mutual support across federal agencies,” Wes Robinson, deputy assistant secretary of the Army for financial operations and information, said in a statement published Thursday.
In fiscal year 2021, the Army purchased intragovernmental goods and services worth approximately $70.2 billion and recorded over $110 billion in revenue from the intragovernmental sale of goods and services. The service said intragovernmental transactions accounted for nearly 35 percent of its annual budget.
According to the Army, G-Invoicing has four key steps that are consecutive and must be met before transitioning to the next process or step: general terms and conditions, orders, performances and funds settlement.
The military branch noted that the G-Invoicing system implementation will require the Army to maintain consistent communication with trading partners to ensure that both parties monitor the changes associated with the implementation.
The Army highlighted the need to record lessons learned to enhance transaction processing and reporting and maximize G-Invoicing’s benefits.
“I am thrilled about this capability and strongly advocate for cross-agency collaboration to harness our collective experiences and lessons learned,” said Robinson. “Together, we are implementing a solution that will ensure the stability and advancement of our Army’s financial operations.”
