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Direct Insite Appoints Matthew Oakes as President
BOHEMIA, NY — (Marketwire) — 03/24/09 — Direct Insite Corp. (OTCBB: DIRI), a global SaaS provider of financial supply chain automation across procure-to-pay, order-to-cash, and shared services business processes, today announced that Matthew E. Oakes has been appointed President. Mr. Oakes previously served as the Company's Executive Vice President and Chief Operating Officer and prior to that as EVP Client Services. He joined Direct Insite in 2002 as Director of Business Operations, Quality Assurance, Contracts and Administration.
"During his time with Direct Insite, Matthew has consistently demonstrated his leadership ability and dedication to growing our business and improving our profitability," said Direct Insite Chairman and CEO James A. Cannavino. "He applies his skills to create an efficient organization, developing our associates and maintaining an unrelenting commitment to deliver quality customer service. I am very pleased to have him take on the role of President for our company."
"I am pleased that our Chairman and Board have given me this opportunity to lead Direct Insite and welcome the challenge to fulfill their expectations in the growth of our company," said Mr. Oakes. "We have an exceptional team, the most competitive and innovative suite of products and services available anywhere, and a strong and growing list of clients. We are positioned to take advantage of the growing market for our services and anticipate strong revenue and earnings growth."
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 processes more than $125 Billion in invoice value annually for its clients. For more information, call 954-510-3750, or visit www.directinsite.com
FORWARD-LOOKING STATEMENTS. All statements other than statements of historical fact included in this release, including without limitation statements regarding the company's financial position, business strategy, and the plans and objectives of the company's management for future operations, are forward-looking statements. When used in this release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the company's management, as well as assumptions made by and information currently available to the company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, business and economic conditions, competitive factors and pricing pressures, capacity and supply constraints. Such statements reflect the views of the company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the company. Readers are cautioned not to place undue reliance on these forward-looking statements. The company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.
Michael J. Beecher
Chief Financial Officer
Direct Insite Corp.