Automate the federal grants process. The grants process can be improved and speeded up using electronic commerce, and ten federal agencies have joined together to form the U.S. Electronic Grant Project. Notwithstanding considerable progress, more improvements are needed. More coordination is required across program areas, e.g., electronic benefits transfer, information technology organizations, logistics, acquisition, grants, and finance. Improve coordination of procurement and payment functions.
Payment processing involves many parties.
The process includes obligating funds, conducting reconciliations, and providing accurate, timely reporting of payment information to the core financial system. In parallel, during the acquisition process, payment and procurement systems interact to check the availability of funds, record obligations, and report acceptance of goods and services. Improve electronic commerce security. It is essential that Internet transactions be secure. Digital signatures can ensure that transactions and communications between parties are authenticated and have not been altered during their transmission across open networks.