Financial Management: Seven DOD Initiatives That Affect the Contract Payment Process

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Report Type	Reports and Testimonies
Report Date	Jan. 30, 1998
Report No.	AIMD-98-40
Subject	Accounting procedures Contractor payments Department of Defense contractors Electronic data interchange Electronic forms Federal agency accounting systems Federal agency reorganization Financial management Internal controls Private sector practices DFAS Mechanization of Contract Administration Services System DOD Defense Procurement Payment System DOD Standard Procurement System

Summary:

This report provides information on seven technological initiatives that the Defense Department (DOD) has identified as central to its efforts to improve the contract payment process. DOD has long recognized weaknesses in its contract payment process and has hundreds of initiatives under way to overcome them. In his November 1997 Defense Reform Initiative Report, the Secretary of Defense indicated that DOD must adopt and adapt the lessons of the private sector if America's armed forces are to maintain their competitive edge in the rapidly changing global security arena. The Secretary announced that all aspects of the contracting process for major weapons systems must be paper free by January 1, 2000. The seven technology initiatives described in this report are intended, in part, to help meet this goal.

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Financial Management: Seven DOD Initiatives That Affect the Contract Payment Process