MINNEAPOLIS, Oct 06, 2010 (BUSINESS WIRE) --
U.S. Bank has been designated as an approved Cooperative Purchasing
supplier of information technology and professional services under the
U.S. General Services Administration's (GSA) Schedule 70, a program that
leverages the buying power of the federal government to benefit smaller
state and local public entities.
GSA awarded the Schedule 70 Cooperative Purchasing status to two bank
payment products: U.S. Bank Freight Payment and U.S. Bank Electronic
Invoice Presentment and Payment (EIPP). These tools help public sector
clients to better manage core accounting and financial processes. The
Schedule 70 designation follows a rigorous evaluation of U.S. Bank's
quality, pricing and legal compliance.
The Schedule 70 designation allows federal, state and local government
entities, K-12 school districts and higher education institutions to
take advantage of the same volume pricing available to large federal
agencies. By selecting U.S. Bank from GSA's list of preapproved vendors,
these public sector organizations substantially reduce their procurement
costs by eliminating the need to issue and evaluate multiple bids.
"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."
Government customers can access information about U.S. Bank through the GSA
Schedules e-Library using U.S. Bank's contract number GS-35F-0299W.
To learn more about U.S. Bank's payment expertise, visit www.usbpayment.com,
or call 1-866-274-5898.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $283
billion in assets as of June 30, 2010, is the parent company of U.S.
Bank, the fifth largest commercial bank in the United States. The
company operates 3,002 banking offices in 24 states and 5,309 ATMs 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.
SOURCE: U.S. Bank
U.S. Bank Media Relations
Teri Charest, 612-303-0732