The State of Michigan (SOM) Department of Technology, Management & Budget (DTMB) is seeking proposals from Contractors to obtain an invoice processing system to be utilized by IT Financial Services. The SOM is seeking either an externally hosted or on-premise Solution. Bidders are encouraged to provide proposals for either type of COTS or SAAS Solution (collectively, “Solution”) systems. DTMB Financial Services will utilize this system to receive, track, audit, approve and submit Vendor invoices for payment processing. The system will be leveraged to validate billing details on invoices by comparing them to existing contractual agreements to ensure accuracy of billing rates, to ensure there are no errors or omissions, and to meet audit compliance requirements. This system will also be used to generate reports that will be used by IT Billing, IT Budget and IT Procurement Services.