Does it not give an overview the first time you log in after the new system? If they removed it it's odd since it costs them nothing.
Basically, instead of IP you have BE. BE can be used in two ways: in the store, or in hextech crafting. Crafting is where you get chests (from you or a premade getting an S- or higher on a champion, limit 1 per champion per season and 1 per week), as well as key fragments (from being honorable, used to open chests), and champion capsules (from level up).
Opening a level up capsule gives champion shards, and sometimes additional blue essence. These champion shards can be disenchanted for BE (about 1/6 or so of their store cost), or can be upgraded with BE you already have to unlock the champion for a 25% discount on the store price. Furthermore, champion shards can be combined with mastery tokens (from S ranks at mastery 5 on a champion) to unlock the mastery without spending BE.
Overall, if you were to disenchant every single champion shard you get, you actually get more BE now than you would have gotten IP under the old system - because of the minimum BE per capsule. If you make good use of "upgrading" shards (i.e. hold on to shards for champions you don't have but want until you can upgrade them for 25% cheaper than buying in store) then you actually come out even better off.