Minneapolis (September 30, 2009) – The United States Air Force (USAF) is leveraging a transportation payment and processing product from U.S. Bank as part of the Defense Personal Property Program (DP3) for Household Goods (HHG). U.S. Bank will provide the single invoice processing and payment solution for the vast majority of HHG shipments through its transportation offering which runs on the Syncada network.
Both the USAF and HHG carriers will benefit from U.S. Bank’s ability to streamline the payment process, increasing efficiency and eliminating waste. U.S. Bank enables a higher degree of automation; for example, it eliminates tedious paper processes whereby HHG carriers were required to submit paper forms. In addition, invoices that previously went to Defense Finance and Accounting Service (DFAS) in paper format are now completely electronic, saving resources, eliminating errors and hastening the payment cycle time.
HHG carriers such as Stevens Worldwide Van Lines are pleased to be leveraging U.S. Bank for invoice processing, payment and trade finance. “We welcome U.S. Bank’s participation,” says Peggy Wilken, vice president of government traffic at Stevens Worldwide Van Lines. “We know that U.S. Bank knows what they are doing. We expect and get timely payment, the solution is simple-to-use and the U.S. Bank team is responsive. The process works and there is value to us as a van line.”
“Our transportation solution will significantly streamline the Air Force’s payment process,” said Cheryl Garcia, vice president of government services for U.S. Bank. “By eliminating errors, and providing expedited payments to the carriers, U.S. Bank will reduce prompt payment interest penalties incurred by the government. As we also reduce cost and improve accounting procedures, we can play an active role in helping the Air Force to be good stewards of the taxpayers’ dollars.”
The goal of DP3 is to focus on the “Quality of Life” for service members, civilian employees and their families, by making personal property moves as smooth as possible. Each year, the military makes thousands of household good moves, all over the world. As of August 2009, the USAF’s utilization of Defense Personal Property System resulted in over 50,000 shipments booked around the world. For more information visit www.move.mil.
A family owned and operated business since 1905; Stevens Worldwide Van Lines is a recognized industry leader as a full-service domestic van line, an international forwarder, and a corporate relocation management specialist. For more information visit www.stevensworldwide.com.
U.S. Bank is the world’s leading freight payment provider and has been serving the U.S. Government as payment provider of choice since 1998. U.S. Bank offers invoice processing, payment and trade finance that benefits both shippers and carriers. U.S. Bank and Visa USA are equal owners of Syncada (formerly PowerTrack), a global payment network. For more information visit www.usbank.com/powertrack.
U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,850 banking offices and 5,173 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
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Contact:
Teri Charest, U.S. Bank Media Relations
(612) 303-0732, teri.charest@usbank.com
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