In March 2025, President Trump signed Executive Order 14247, officially titled “Modernizing Payments to and from America’s Bank Account.” The aim is to make sure that whenever possible, payments to and from the U.S. Federal Government happen electronically, replacing traditional paper checks.
This is a big shift, and it affects any organization that sends or receives payments from the government. The Treasury Department is fully behind this move. In their recent press release, they frame it as a way to improve speed, security, and transparency across the entire federal payment system. Here at the IFOL, we’ve been tracking this change closely. Based on what our members are telling us, there’s a lot of support for this kind of modernization. But there is also a clear need for guidance on how to actually make the transition.
What IFOL Members Are Saying
Our latest community research highlights just how prevalent manual payments are for many finance teams:
- 63% spend more than 10 hours a week just processing invoices and managing supplier payments.
- 25% cite too many paper documents and files as a key ongoing challenge.
- Only 42% of teams told us they currently have a digital payments process in place.
- On the bright side, 37% said they planned to invest in electronic payment solutions this year – a number that’s likely going up now that EO 14247 is official.
What Executive Order 14247 Means
If your organization invoices the federal government or makes payments to it, you’ll need to switch from using physical checks to electronic payments.
This applies to:
- Suppliers to the government (you invoice and they pay you)
- Customers of the government (you pay them, for example fees.)
This change could impact eligibility for contracts, payment processing times, and how you manage audit trails and fraud prevention.
We’re Here to Help: Join Our Live Learning Session
To help navigate this change, we’re hosting a members-only Live Learning session: Complying with Executive Order 14247: Modernizing Payments To and From America’s Bank Account
The session offers:
- Practical advice on how to move away from checks
- Tools and tips for setting up or improving electronic payment systems
When and where:
- Thursday, June 5th 2025, 11:00am (EDT) / 4:00pm (BST)
- Online and exclusive to IFOL members and community, via the IFOL community platform.
Meet the Speakers
You’ll hear from a panel of experts:
- Louise Graham, Chief Operating Officer and Head of Institute, IFOL
- Caroline Adams, Senior Program Author, IFOL Education Team
- Garry Stevens, Lead Program Author, IFOL Education Team
- John Ford, CAPP, Director of Financial Operations at Metropolitan Nashville Public Schools
Why This Matters
This Executive Order is a real opportunity for finance teams to reduce manual work, improve payment security, and future-proof their processes. For IFOL members, it’s a chance to stay ahead of compliance changes and drive real operational improvements.
Reserve your spot now.
- Existing community members: Log in and RSVP to attend the session live.
- New community members: Register for free and RSVP to attend the session live. You can then enjoy access to further resources and insights as an IFOL community member.
Continue The Conversation in Person, in Miami
We will be hosting a live panel discussion on this topic at our Accounts Payable Leadership Conference in Miami on September 10th 2025.
Our industry experts will discuss compliance strategies, the benefits of digital payments, and best practices for a smooth transition to electronic payments. Tickets are on sale now – be part of the conversations and gain practical advice. Find out more.