Harbor Payments Corporation featured in Forrester EIPP Industry Research as one of Three US providers offering AR and AP functionality

Atlanta, GA, Feb 22, 2005 – Harbor Payments, Inc., a leading provider of next generation enterprise payment management solutions, was featured in a recent survey of the EIPP (Electronic Invoice Presentment and Payment) industry by Forrester Research, Inc. Forrester focused on the benefits of a converged accounts receivable (AR) and accounts payable (AP) EIPP solution. Through its research Forrester observed that although EIPP products continue to improve, many vendors and most companies are taking too narrow an approach with their EIPP strategy, which results in less than optimal benefits. Harbor, is one of the few providers that has a comprehensive approach to EIPP.

Vendor EIPP Offering is either AR or AP, but rarely both

Forrester’s research suggests that most new vendors are predominately AP focused, while many AR vendors have discontinued their AR focus claiming that the supplier’s ability to influence payers to change their habits is dwindling. While many companies have focused their efforts on an AR or AP EIPP offering, Forrester recognized Harbor Payments as one of only two industry service providers that focus on both approaches.

Forrester theorized that most corporations do not recognize the merit of AP and AR EIPP convergence. According to its research, Forrester claims this is primarily due to the fact that these groups are isolated and operate independently within the organization. However, most vendors report that their clients have expressed no interest in using the same vendor for both an AP and AR EIPP solution. It is a hard sell trying to please both groups. Some visionary vendors are beginning to see the merit of a converged strategy. Some of the benefits to be realized by such a convergence is an expanded ROI (working with one vendor is more convenient and less costly), leveraging one vendor relationship across the AP and AR departments (reduces integration efforts to ERP applications), and allowing for bundled pricing.

Harbor Payments has been identified in this study as one of a few vendors offering both AP and AR EIPP solutions and has taken an early lead in this industry. Ashish Bahl, CEO of Harbor Payments, says the company recognized the convergence of AP and AR before the rest of the industry took note. Bahl noted, “The market rapidly validated our initial premise that having standard AP and AR solutions was the only way to get large corporate trading partners to adopt electronic invoicing solutions.”

About Harbor Payments

Harbor Payments is an industry-leading comprehensive payment services provider that offers next generation payment management solutions. Harbor Payment’s’ solutions streamline and centralize the complete payment workflow from purchase order generation to payment execution. Headquartered in Atlanta, the company has strategic backing from established industry leaders including First Data Corporation, Marsh & McLennan Companies, Inc., and Fortis, Inc. For more information, please visit the company's web site at www.harborpayments.com