Since fiscal year 1999 the Department of Defense (DoD) has been driven to create a paperless invoicing environment.
The Invoicing, Receipt, Acceptance, and Property Transfer (iRAPT) application has provided a secure web-based system that is actively used for electronic invoicing, receipt, and acceptance. This innovative application is now playing an important role in your asset’s lifecycle events. From improved tracking to more accurate payments, iRAPT can provide countless benefits to the DoD and its vendors.
The Use of iRAPT Within Asset Lifecycle Events
Whether you are interested in the transportation of military assets or equipment, the iRAPT application can and should be used to improve efficiencies, streamline correspondence, and enhance the secure delivery of your assets.
Elimination of Paper-Based Support Functions
Prior to the use of iRAPT, paper-based processes were required to track asset movement. These processes relied on a multitude of support functions, which all needed additional management (and subsequent funds) to succeed.
iRAPT successfully reduces the need for additional management by removing the cumbersome and expensive manual support functions. Documents are electronically captured, stored, and retrieved to provide a transparent environment for tracking asset information, without the need for expensive mail, file, and copy rooms or the associated personnel needed to staff these paper-based solutions. By eliminating manual data entry across programs, the iRAPT application provides increased labor savings.
Improved Global Accessibility to Streamline Processing
Through iRAPT, multiple users can globally access documents on a secure network. In this vein, iRAPT is used to streamline asset processing, reduce the need for re-entering data, improve the accuracy of asset information, and provide real-time processing with access to up-to-date document status. Without involving other organizations or individuals, iRAPT users will be able to effectively research the history or status or past payment, invoices, or shipment histories to more effectively streamline asset processing efforts.
Enhanced Tracking to Eliminate Lost or Misplaced Documents
iRAPT can and should be effectively used in the tracking, management, and storing of important asset documents. Through its secure electronic environment, documents will no longer misplaced or lost. Additionally, the iRAPT application eliminates the added lead-time from mail transit documents. It provides enhanced cost efficiencies by creating a paperless environment. In short, it is far easier and cheaper to store and transfer electronic documents.
Enables Timely & Accurate Payments
iRAPT is effectively used in the invoicing and payment portions of an asset’s lifecycle. This innovative application is capable of taking in FTP batch and EDI X12 files. DoD vendors can use iRAPT to electronically connect system-to-system, which effectively decrease the time needed to generate a document and pass it through to the correct government entity for acceptance. At this critical portion of an asset’s lifecycle, iRAPT can be effectively used to reduce the time from invoice to payment. What used to take 10 days can now be accomplished in 1 day or less.
In conclusion, the iRAPT application can be effectively used at multiple stages of an asset’s lifecycle of events. From initiating improved tracking protocols to providing streamlined payments, iRAPT has numerous benefits that are designed to improve operations for both the DoD and its vendors.