Multibillion dollar global chemical producer Arkema relies on Harbor Payments to provide accounts payable automation

Atlanta, GA, October 16, 2006 – Harbor Payments, the leading provider of next-generation electronic billing, invoicing and payments management solutions, announced today that Arkema, a world-class producer of industrial chemicals and performance products, has licensed the Invoice Harbor platform for automated accounts payable processing. Recently spun-off from Total, ranked #12 on the Global 500, Philadelphia-based Arkema has annual worldwide revenues of $7 billion generated through 90 industrial sites operating in more than 40 countries.

In the U.S. alone, Arkema processes more than 12,000 invoices per month, 90 percent of which are paper based. The vast majority of the associated payments, roughly nine out of 10, also are issued via paper check. Initially, Arkema will leverage Harbor Payments’ Invoice Harbor solution to begin receiving all U.S. invoices electronically from day one, regardless of origin. The system also will enable Arkema to provide its vendors with a free, easy-to-use supplier portal, allowing them to simplify their accounts receivables (AR) processes by converting to electronic invoice origination, payments tracking and reconciliation.

In addition to offering on-demand access to detailed payment information, the supplier portal will allow Arkema to offer its suppliers a variety of payment methods, including e-payments via ACH. And because the Invoice Harbor solution provides transparency between buyer and supplier, disputes also can be handled more quickly and easily, further expediting both the buyer’s AP process and the supplier’s AR process.

About Harbor Payments
Harbor Payments is the leading provider of outsourced electronic invoicing, billing and disbursement solutions for the Global 1000. The company’s products, services and insight enable organizations to manage cash flow 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