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Direct Insite to Deliver E-Invoicing Platform to a Global Manufacturing Company
Direct Insite (OTC BB: DIRI.OB), a leading provider of cloud-based e-invoicing solutions for accounts payable, accounts receivable, and payments services, today announced that it will deploy its Invoices On-Line (IOL) suite of AP automation processing capabilities in the worldwide shared services centers for a global manufacturing company. The three-year deal is initially valued in excess of $700,000 USD.
The company will standardize worldwide on Direct Insite's Invoices On-Line platform to automate its AP processes, eliminate the handling of paper invoices, increase the straight-through-processing of supplier invoices, and enhance visibility into the company's global cash position.
Initially, the company will use Invoices On-Line to receive images of invoices scanned by a third-party and route them electronically for approval and payment based on pre-defined business rules. The company plans to extend its use of the platform to allow its suppliers to submit invoices electronically via the Invoices On-Line portal, automating processes such as invoice receipt, supplier inquiry, invoice processing, compliance/dispute management, and reporting.
Direct Insite will integrate Invoices On-Line with the company's enterprise resource planning system, further standardizing its invoice processes and reporting.
"This announcement demonstrates the ability of Invoices On-Line to accept any invoice, in any format, from any source," said Direct Insite President and CEO Matthew E. Oakes. "Forward thinking and progressive companies are looking for opportunities to 'Go Green,' eliminating paper and implementing effective automation tools no matter where they currently are in the AP automation lifecycle."
About Direct Insite
Direct Insite Corp. delivers cloud-based e-invoicing solutions for AP, AR and payments automation. For nine years, Direct Insite has built a track record in automating some of the most demanding financial environments. Today, over 175,000 suppliers and customers use our e-invoicing network across 100 countries (representing more than 35 currencies and 17 languages). Direct Insite's Invoices On-Line (IOL) suite simplifies AP and AR processes such as: electronic invoice distribution and submission; purchase order submission, distribution and acknowledgement, invoice processing and validation, line-item matching, approval routing, invoice consolidation, dispute management, e-payment processing, and reporting and analysis. To learn more, visit www.directinsite.com.
Invoices On-Line is a trademark of Direct Insite Corp.
All other product and service names mentioned herein are the trademarks of their respective owners.
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.
Direct Insite Corp.
Matthew E. Oakes, 954-510-3750
President and Chief Executive Officer