Power of PAYBOX®
Citing Significant Improvement in Operations and Cash Flows, Direct Insite Repays JPMorgan Chase Bank Loan
Company Bolstered by Continued Strong Performance
Direct Insite Corp., (OTC BB: DIRI), a global provider of financial supply chain automation across the procure-to-pay and order-to-cash business processes, announced the repayment of the $500,000 loan to JPMorgan Chase Bank N.A. The loan, which was repaid in full on June 29, 2007, was received by Direct Insite in June 2003.
"We have earned a reputation for delivering value in every client engagement," said James A. Cannavino, CEO and Chairman of Direct Insite. "This has bolstered our position as a leader in the eInvoicing solutions market. At the same time, we have a well managed, controlled and highly efficient operation. This combination has led to strong performance and dramatically improved operating cash flow."
About Direct Insite
Direct Insite provides best practice financial supply chain automation and workflow efficiencies for Procure-to-Pay and Order-to-Cash processing. The Company's global eInvoice Management services automate complex manual business processes such as invoice validation, order matching, consolidation, dispute handling, and e-payment processing. Direct Insite solutions are used by more than 7,000 corporations across 62 countries, 15 languages and multiple currencies. Direct Insite was selected by Deloitte and Touche as one of the '500 Fastest-Growing Technology Companies' in the United States and Canada. For more information, call 954-510-3750, or visit www.directinsite.com.