October 06, 2010

Minneapolis-based U.S. Bank announced today it has received a Cooperative Purchasing supplier of information technology and professional services designation for two of its products under the U.S. General Services Administration's Schedule 70 program, which leverages federal government buying power to benefit small state and local public entities.

Two U.S. Bank payment products, U.S. Bank Freight Payment and U.S. Bank Electronic Invoice Presentment and Payment, were awarded the Schedule 70 Cooperative Purchasing status. The products help manage core accounting and financial processes.

"With the public sector being asked to do more with fewer resources, the time- and cost-saving advantages of our Freight Payment and EIPP products can be critical tools for educational institutions and government agencies at all levels," says Doug Ichiuji, senior vice president and public sector head for U.S. Bank Corporate Payment Systems. "As a new Schedule 70 designee, U.S. Bank is looking forward to helping these organizations streamline their financial operations."

The Schedule 70 designation gives small agencies - such as federal, state and local government entities, K-12 school districts and higher education institutions - the same pricing available to large federal agencies.