Afternoon Coffee: Emburse integrates e-receipts with Amazon Business, Mastercard; August PMI shows manufacturing growth; Ventilator dispute, deliveries

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Emburse, an expense management and accounts payable automation specialist, announced an integration with Amazon Business and Mastercard corporate cardholders that will digitize and streamline the e-receipt function.

The integrated solution will automatically render e-receipts to a customer’s receipt wallet within the expense solution. Transactions will automatically be sorted into individual line items and categorized based on customer’s purchasing history and company policies. It will eliminate the need for customers to manually enter products as single expenses and allow for greater line-item clarity for administrators to monitor spend compliance.

The Emburse solution focuses on eliminating manual and time-consuming tasks within the expense management category.

“Outside of travel bookings, Amazon is one of the most commonly expensed merchants that we see," Emburse CEO Eric Friedrichsen said in a press release. "Many of our customers are using Amazon Business for their business purchases and are looking for a solution that automates the expense process. This integration takes what was previously a time-consuming and manual task and makes it happen at the touch of a button.”

Manufacturing sector continues growth

Amid the coronavirus disruption, economic activity in the manufacturing sector continued to grow in August, according to Tuesday's Manufacturing ISM Report on Business. The August PMI registered 56%, indicating an expansion in the overall U.S. economy for the fourth consecutive month, according to the Institute for Supply Management.

The August rate grew 1.8 percentage points from the July number of 54.2%. The PMI has continued an upward trajectory throughout the summer after bottoming out in April because of the COVID-19 crisis.

"After the coronavirus brought manufacturing activity to historic lows, the sector continued its recovery in August, the first full month of operations after supply chains restarted and adjustments were made for employees to return to work,” said Timothy R. Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee. “Survey Committee members reported that their companies and suppliers operated in reconfigured factories, with limited labor application due to safety restrictions. Panel sentiment was generally optimistic (1.4 positive comments for every cautious comment), though to a lesser degree compared to July.”

Philips has ventilator order cut short, GM and Ford deliver ventilators

Philips, a Dutch medical equipment maker, cut its 2020 earnings outlook after the U.S. Department of Health canceled a portion of their order for 43,000 ventilators, according to Reuters.

A July report from the U.S. Congress House Subcommittee on Economic and Consumer Policy showed that the White House had overpaid Philips by at least $500 million. Philips is just one of several companies contracted by the U.S. to supply 187,000 ventilators to build up a stockpile to treat patients affected by COVID-19 after concerns were raised over having a shortage.

Philips expanded capacity in Pennsylvania and California to meet sudden demand, but now it will deliver just 12,300 hospital ventilators by the end of the year to the U.S. Department of Health and Human services.

GM and Ford also announced this week that the companies fulfilled the U.S.’s orders for ventilators, according to the Associated Press. GM said it made 30,000 ventilators, while Ford said it made 50,000. The Department of Health and Human Services had contracted different companies — like those in the auto industry — to help it manufacture a supply of ventilators. The country is now expected to have a surplus of ventilators for future use.

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