Over the Counter Channel Application (OTCnet)
Investment ID: 015-000000057
Overview
Program Title
Over the Counter Channel Application (OTCnet)
Description
OTCnet is the government's one system solution for the collection of $150 billion annually in all types of checks, currency, credit/ debit cards and coins transacted at federal agency Point of Sale locations worldwide.
Type of Program
Major IT Investments
Multi-Agency Category
Not Applicable
Associated Websites
https://www.fiscal.treasury.gov/fsservices/gov/rvnColl/otcnet/rvnColl_otcnet.htm, https://www.otcnet.fms.treas.gov, https://www.otcnet.for.fiscal.treasury.gov/
Investment Detail
By providing a shared service for all OTC collections globally, it eliminates the need for multiple systems across the government. Using automated check processing functionality in OTCnet eliminates the need for manually processing the checks at TGA locations. Using Single Sign-on and automated user recertification provides productivity improvements to agencies for large number of users and less manual effort from the customer support team. Utilizing a web-based training tool for agencies reduces the number of Instructor Led training requests in OTCnet and provides cost benefits. Processing of Adjustment/Correction and Rescinds for checks, in addition to deposits, improves agency reporting and improves the reconciliation processes. With the implementation of the data quality management enhancements, Fiscal Service has improved the use of business analytics and data mining to increase revenue collections efficiencies, as well as address the integrity, timeliness, accuracy and completeness of the collections data. With the recent implementation of Credit and Debit Functionality, OTCnet now allows for additional over the counter reporting for this new collection method.