Power of PAYBOX®
Direct Insite Corp. to Deliver White-Label Accounts Receivable and Payments Solution to Tier 1 Global Financial Institution
Released on April 15, 2013
FT. LAUDERDALE, Fla., April 15, 2013 (GLOBE NEWSWIRE) — Direct Insite (OTCBB:DIRI), a leading provider of cloud-based e-invoicing solutions for Accounts Payable, Accounts Receivable, and Payments services, today announced that the Company signed a three-year contract to provide a white-label Accounts Receivable and Payments solution to a Tier 1 global financial institution.
The financial institution will deploy Direct Insite's Invoices On-Line platform to support Accounts Receivable and payment automation as a standard service for its commercial customer base. The platform will provide the financial institution's customers with electronic invoice automation, company profile management for billers and payers, remittance and payment profile management for all payment types, and invoice line-item inquiry and dispute management. The Invoices On-Line platform will process more than 3 million invoices and 1 million payments annually on behalf of the financial institution's customers.
The financial institution selected Direct Insite after an exhaustive evaluation of available solutions. Direct Insite stood apart for its invoice-centric solution for AR and AP automation, international features including multi-language, multi-currency capabilities, invoice-centric approach to AR automation, and track record in the global shared services environments of large companies.
"Direct Insite's white-label Accounts Receivable solution uniquely positions financial institutions to address an increasingly common treasury requirement, while strengthening customer relationships and driving non-interest fee income. Our integrated payments capabilities and payment profile management also support the electronic payments initiatives of financial institutions," said Direct Insite President, CEO and Director Matthew E. Oakes. "This contract from a Tier 1 global financial institution validates the compelling value proposition of our invoice-centric Invoices On-Line platform, and substantially increases the size of our global e-invoicing network, which was a distinguishing attribute in the selection process for our new partner."
Invoices On-Line (IOL) provides a robust e-invoicing portal that enables customers to securely access their invoices, statements, credit memos, disputed items and payment history, anytime they want. With the Invoices On-Line Self-Service Web Portal, customers have access to a decision-tree and online tools that provide self-help answers to their inquiries. Customers can even register themselves to use the portal, and maintain their own login credentials.
Invoices On-Line's PCI Compliant Payment Gateway supports the secure disbursement, receipt and processing of payments via credit card or p-card or the Automated Clearing House (ACH) Network. Users can schedule and pay one or many invoices via the Invoices On-Line service. Payment remittance information is automatically synchronized with Invoices On-Line and the client's back-office and enterprise resource planning (ERP) systems.
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, including the shared services organizations of Fortune 3000 companies. Today, over 300,000 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.
Matthew E. Oakes, President, Chief Executive Officer and Director
Direct Insite Corp.