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VA turns to electronic payments to save money, improve work

Nov 27, 2012 - Companies soon will be required to submit payments to the Veterans Affairs Department in electronic form. It will be mandatory as officials work to boost VA's productivity and garner more savings from even the smallest corners.

VA officials announced the finalized rule Nov. 27 in the Federal Register. The new rule takes effect Dec. 27.

Electronic payments will help VA make its timely payments and avoid interest penalties for late payments. VA will also be able to increase how much money it can save from prompt payment discounts. On top of that, VA will bring electronic government deeper into its operations. The result could lead to improving how VA achieves its performance goals and reduces its own costs and the burdens on businesses. read more>>>