Electronic payment operations through the Internet can provide safer and faster disbursement services to all agencies. Government creditors will be able to receive their payable amounts earlier. Automation of the accounting operations of disbursing agencies will be accelerated and the payment operations of the National Treasury Administration will be quicker and more diversified. In consequence, it will be a win-win-win for the disbursing agencies, government creditors and the National Treasury Administration. The concrete benefits are as follows:
1. For disbursing agencies:
A.Disbursement through the Internet can shorten the time required from processing to delivery of vouchers. The process will be simplified, needing only minimum manpower and no postage.
B.Utilization of Internet technologies will mean replacement of road trips with online networking, reduction of paper waste, and elimination of back-and-forth legwork to send and deliver the vouchers.
C.The website of the National Treasury Administration can provide disbursing agencies with real-time updates on disbursement data transmission and reception as well as payment progress.
D.The disbursing agency’s accounting will be simplified and the work quality of cashier operations will be upgraded effectively.
E.The National Treasury Payment System provides disbursing agencies with fast and convenient online application service. Elimination of physical delivery of document can minimize related legwork, cut processing time, and achieve the goal of reduction of paperwork and postage.
F.Integration with the GBA system of the Directorate-General of Budget, Accounting and Statistics of the Executive Yuan can standardize budget disbursement operations as well as increase information sharing and use.
G.Prompt and convenient disbursement of various payable amounts can upgrade the quality of government services and help promote the administrative work of the disbursing agencies.
2. For government creditors:
A.Fast disbursement of payable amounts to businesses and private citizens (1 to 3 days earlier) will greatly increase time-efficiency in public fund payment and improve the quality of government services.
B.Travel to and from banking institutions is eliminated while earlier payment means indirect increase of bank interest and better capital use for businesses and private citizens as well as protection of the interests of the payees.
3. For the National Treasury Administration:
A.Reduction of payment processing time will improve disbursement efficiency and provide diversified services that are beneficial to both the government and the citizens.
B.Application of computerized processing and checking functions can strengthen data matching and comparison, reduce paperwork and budget account registration, and boost disbursement efficiency.
C.Establishment of a safe and reliable National Treasury Electronic Payment environment will expedite treasury finance management and arrangement as well as safeguard the interests of government creditors.
D.Establishment of a National Treasury information network can help promote the spread and application of the payment network and make National Treasury information more accessible to all government agencies.
E.Replacement of manual delivery with online transmission will eventually lead to the goal of paperless operation, bring total electronification to realization, and improve the image and quality of government services.
F.The benefit of payment time reduction and convenience will be particularly obvious for smaller agencies and agencies in remote or offshore areas as there will be almost no voucher sending and delivery.