Grey Group Signs Multi-Year Contract With Direct Insite

BOHEMIA, NY — (Marketwire) — 06/10/09 — Direct Insite Corp. (OTCBB: DIRI), a global provider of Accounts Payable and Accounts Receivable automation services, today announced Grey Group has signed a multi-year contract with Direct Insite to enable electronic supplier invoice processing.

Direct Insite's supplier on-boarding and enablement services will enable Grey's suppliers to submit electronic invoices and supporting documentation significantly reducing manual paper invoicing processes. Suppliers invoicing Grey will be able to submit electronic invoices through web form entry, copying a purchase order into an electronic invoice or uploading invoice data from a spreadsheet. Direct Insite will perform automated 'rules-driven' invoice validation, including purchase order matching. Workflow will be incorporated to route electronic invoice packages to Accounts Payable for review and approval. Ultimately, approved electronic invoices will be transmitted into Grey's Accounts Payable system.

"Direct Insite's Invoices Online (IOL) portal will be our single point of entry for supplier electronic invoice processing and self-service invoice/payment status lookup. Benefits will include e-invoice processing efficiencies, reduced paper storage costs and enhanced supplier self-service. Grey is committed to environmental conservation and with over 5,000 paper invoices manually reconciled per month, we needed a solution provider who would work closely with our suppliers to accelerate electronic invoicing and reduce paper invoice handling," said Pasquale Cirullo, Senior Vice President, Business Systems, Grey Group.

Direct Insite Chairman and CEO James Cannavino said, "Grey is leading their industry leveraging innovative supplier electronic invoicing tools that accelerate Accounts Payable approval cycles while reducing processing costs. Adding Grey to our quality list of clients further validates the operational efficiencies provided by Direct Insite."

About Direct Insite

Direct Insite Corp. provides e-Invoicing and workflow solutions that streamline processes and reduce costs within Accounts Payable and Accounts Receivable operations. The Company's e-Invoice management services automate Procure-to-Pay and Order-to-Cash activities including invoice validation, order matching, dispute handling, and e-payment. Direct Insite Corp. solutions are used by 7,000 corporations across 65 countries, 17 languages and multiple currencies. For more information about Direct Insite Corp. (OTCBB: DIRI), visit http://www.directinsite.com.

About Grey Group

Grey Group ranks among the largest global communications companies. Its parent company is WPP. Grey Group's total offering includes Grey, its global advertising network, and G2, its activation marketing network; healthcare communications; media planning and buying and public relations. Grey's blue-chip client roster includes many of the world's best known companies: Procter & Gamble, GlaxoSmithKline, Diageo, Darden Restaurants, Wyeth, Canon, 3M, Eli Lilly and E*Trade. (www.grey.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.

Corporate Contact:
Matthew Oakes
President
Direct Insite Corp.
954.510.3750

 

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