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Paperless Innovations on P-Card Compliance With OMB A-123 Appendix B

Paperless Innovations on P-Card Compliance With OMB A-123 Appendix B - top government contractors - best government contracting event

In the second part of its three-pronged series focused on OMB Circular A-123 Appendix B, Paperless Innovations tackled P-Card compliance with the risk management framework for government charge card programs.

“The myriad of compliance guidelines necessitate P-Card administrative officers to make critical decisions on maintaining compliance and eliminating fraud, waste and abuse in the use of purchase cards,” the release reads. Aside from Office of Management and Budget compliance requirements, the framework covers unfunded mandates like the Improper Payments Elimination and Recovery Act of 2010 and paperless government.

Mike Tocci, president of Paperless Innovations, noted that P-Card risk management controls are necessary for agencies as those measures serve as the first line of defense against program-inherent risks and provide administrative officers with means to maintain the integrity of their respective purchase card programs.

“Internal Controls can be automated with readily available [software as a service] solutions to turn compliance from a defensive activity to a proactive one,” he added, higlighting automation’s potential to boost P-Card program capability while reducing burdens and eliminating risks.

An agile commercial-off-the-shelf SaaS platform allows for automated controls for P-Card transaction process to help flag improper transactions and payments and ensure proper receipt documentation. This contributes to overall protection of federal assets.

“Review and Approval Process controls, when automated, ensure all cardholders reconcile transactions according to agency policy and prevent program findings that may require expensive remediation,” said Tocci. “Supporting documentation requirements can be enforced to prevent reconciliation prior to all documents being attached to each individual purchase record.”

Paperless Innovations offers its cloud-based software-as-a-service platform Actus to support agencies looking to ensure compliance in their P-Card Program automation and management. Actus is currently “In Process” of obtaining authorization under the Federal Risk and Authorization Management Program.

Read the first part of the Paperless Innovations-led series here.

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Written by Christine Thropp

oversees day-to-day content production for ExecutiveBiz, a publication under Executive Mosaic's media group covering government contracting industry news. She also writes about executive movements and commentaries, M&A activities, contract awards and technology and service offerings of medium-sized businesses and other GovCon companies. Prior to assuming her current responsibilities with EBiz, Thropp produced daily competitive intelligence briefings for the company's GovCon customers.

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