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Paperless Innovations on Use of Actus to Ensure Regulatory Compliance; Mike Tocci Quoted

Paperless Innovations on Use of Actus to Ensure Regulatory Compliance; Mike Tocci Quoted - top government contractors - best government contracting event
P-Card utility

Paperless Innovations has pointed to inspector general reports flagging gaps in government procurement card programs and other factors that limit the intended use of P-Cards such as the micro-purchase threshold and agency-imposed restrictions.

In a statement, the company has also underscored that artificial intelligence and robotic process automation in commercial off-the-shelf offerings could help agencies streamline purchases of supplies and services while ensuring regulatory compliance to avoid fraud, waste and abuse.

Citing its cloud-based Actus platform as one of those COTS technologies, Paperless continued, “[The platform] delivers automated approval workflows, digital data for finance and procurement decision-makers, and oversight for complete audibility at the item level.”

Mike Tocci, president of Paperless, said Actus procurement automation offering is already being assessed under the Federal Risk and Authorization Management Program to help ensure accountability, compliance and transparency in government transactions.

“Providing cloud-based authentication, security, process controls, and oversight on all transactions prior to every purchase restores the P-Card to its original purpose as a rapid payment tool. With Actus, utilization of SmartPay P-Card programs will increase dramatically,” he added.

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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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