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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

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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.

“This acquisition is good news for us,” says Hoffman. “If we can expand that program outside the U.S., we could see big savings in A/P overhead. American Express is a global organization with the resources to make Harbor Payments a global service, and that’s just what we’re looking for.”

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