For the 14th consecutive year, the Defense Department has renewed its one-year contract with U.S. Bank Freight Payment, an agreement that saves the department hundreds of thousands of dollars in freight invoicing costs.
The partnership began in 1999, when U.S. bank ended up processing 69 invoices throughout the year. In 2012, U.S. Bank processed more than 11 million invoices for the department.
Technological improvements have recently helped raise the number of invoices processed. The parties automated the process of paying non-temporary storage providers last year.
The departments of State, Homeland Security, Health and Human Services, and Energy all use U.S. Bank.
"We are proud of our partnership with the DoD and what we have achieved in our joint efforts to attain greater efficiency and measurable savings through payment automation," U.S. Bank’s Kurt Adams said in a statement. "We continue to make significant, ongoing investments in expanding the program for the benefit of the department, its constituents and the American taxpayer."
U.S. Bank’s freight payment network links together more than 17,000 carrier customers, providing them with automated payment options and cash-management tools. - Jon Ross