Search
 

AmEx to the Rescue

American Express' entry into the EIPP market has raised hopes that the entire supply chain automation sector will expand, thanks to bigger investment, AmEx's global presence and increased synergy with P-cards

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Dean R. Hoffman could not have been happier at the news that American Express Co. had purchased Harbor Payments, an Atlanta-based electronic invoice presentment and payment (EIPP) provider. His company, the $2.3 billion engineered component maker Kennametal Inc., is using Harbor to service 12,000 invoices a month, about 95% of Kennametal’s U.S. volume. Hoffman, Kennametal’s manager of customer/vendor support systems, is hoping that the takeover by a behemoth like American Express could make it possible for his company to consider expanding the Harbor accounts payable program to Kennametal’s overseas suppliers.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.