Convergys Selects Harbor Payments EIPP Solution For More Efficient Accounts Payable Processing And Significant Cost Savings

Harbor Payments offers a single solution for paper and electronic invoicing, coupled with the largest and fastest-growing trading partner network, for immediate and sustainable long-term ROI

Atlanta, GA, June 5, 2006 – Harbor Payments, the leading provider of next-generation corporate payments management solutions, announced today that Convergys Corporation (NYSE: CVG), a global leader in customer care, human resources and billing services, has licensed Invoice Harbor™ to automate its accounts payable process. One of the nation’s most successful business process outsourcing (BPO) providers, with revenues of more than $2.5 billion, Convergys receives in excess of 10,000 invoices per month from 5,000+ vendors, most of which are paper-based and therefore labor-intensive and costly. Convergys looked to Harbor Payments to help reduce the exorbitant costs associated with paper processing and to automate the exception management and resolution process.

The order-to-pay cycle costs most companies between $7.50 and $30.00 per invoice, with an average of 10 percent to 20 percent of invoices involving an exception process. According to Aberdeen Group, electronic integration, messaging, reconciliation and reporting solutions in accounts payable can reduce costs by as much as 67 percent, while improving vendor relationships.

Harbor Payments enables enterprises to realize immediate cost savings by leveraging Invoice Harbor’s single solution to address both paper (mail, fax) and electronic (email, EDI, web, XML, batch) invoices for complete AP automation. Through Invoice Harbor, all invoices can be delivered to the client electronically from day one, regardless of the vendor’s original invoice channel, enabling more efficient, automated workflow, including automatic routing for approval and exception management. In addition, Invoice Harbor provides real-time integration to Convergys’ PeopleSoft ERP application to enable straight-through processing.

Harbor Payments also has built the largest and fastest growing trading partner network, which offers a migration path away from paper to straight-through processing, lowering costs for both Convergys and its suppliers.

“Without a large, pre-existing network of electronically-enabled buyers and sellers, EIPP programs will take significantly longer to deliver expected ROI,” explained Ashish Bahl, founder and CEO of Harbor Payments. “With more than 200,000 large suppliers already enrolled in the Harbor Payments Trading Partner Network, our clients typically find that 20+ percent of their suppliers can be immediately converted from paper to electronic invoicing.”

In addition to the immediate cost benefits derived from converting existing trading partner network members from paper to e-invoicing, Harbor Payments’ proven Harbor Master™ vendor enrollment process is designed to quickly sign up even the largest vendors for e-invoicing, providing clients with a sustainable return on investment. Harbor Master’s tiered approach, proven methodology and dedicated resources consistently deliver the industry’s highest vendor adoption rates. As a result, Invoice Harbor enables enterprises to reduce operating costs, improve working capital management and evolve into a truly paperless organization.

About Convergys
Convergys Corporation (NYSE: CVG) is a global leader in providing customer care, human resources, and billing services. Convergys combines specialized knowledge and expertise with solid execution to deliver outsourced solutions, consulting services, and software support. Clients in more than 70 countries speaking nearly 35 languages depend on Convergys to manage the increasing complexity and cost of caring for customers and employees. Convergys serves the world's leading companies in many industries including communications, financial services, technology, and consumer products.

Convergys is a member of the S&P 500 and a Fortune Most Admired Company. Headquartered in Cincinnati, Ohio, Convergys has more than 65,000 employees in 72 customer contact centers, three data centers, and other facilities in the United States, Canada, Latin America, Europe, the Middle East, and Asia.
For more information please visit the company’s web site at www.convergys.com

About Harbor Payments
Harbor Payments is the leading provider of corporate payments management, providing comprehensive electronic outsourced invoicing, billing and disbursement solutions for the Global 1000. The company’s products, services and insight enable organizations to manage cashflow more effectively by efficiently sending and receiving invoices, making and collecting payments, and managing all associated internal workflows. While transforming and streamlining the client organization’s operational and financial processes, Harbor Payments products and services adapt to and complement each client’s existing information systems and accounting applications. Harbor Payments solutions are marketed under the brands of Invoice Harbor, Billing Harbor and Payment Harbor.
For more information, please visit the company’s web site at www.harborpayments.com