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Direct Insite Corp. Becomes First E-Invoicing Solution Provider to Offer Fully Integrated Company Profile and Vendor Management

Module is Integral to Direct Insite's Complete AP Transformation Strategy

FT. LAUDERDALE, Fla., May 16, 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 is extending its Invoices On-Line™ suite with fully integrated capabilities for Company Profile and Vendor Management. Direct Insite is the first e-invoicing solutions provider to offer integrated Company Profile and Vendor Management.

Direct Insite's Company Profile and Vendor Management enables organizations to:

  • Reduce the amount of time, number of resources and total costs associated with capturing, cleaning, validating and managing supplier or customer data;
  • Automate the process of inviting and registering suppliers to submit invoices electronically;
  • Provide front-line staff and finance executives with real-time visibility into supplier or customer data;
  • Maintain required supplier and/or customer information, including tax documents, which can be submitted electronically; and
  • Help ensure compliance with regulations and internal procedures.

"Direct Insite believes company profile and vendor management is the next logical step in extending our AP transformation into a complete offering. Aggregating, cleaning and maintaining company information facilitates AP transformation; from invoice submission through spend management and business intelligence," said Direct Insite President, Chief Executive Officer and Director Matthew E. Oakes. "Company profile and vendor management will drive electronic invoice submission and data compliance for buyers, while enabling suppliers to submit multiple forms in addition to invoices."

Direct Insite's Company Profile and Vendor Management automates the process of inviting individual suppliers and customers or groups of suppliers and customers to register on the Invoices On-Line™ e-invoicing portal, and guides companies through a self-service registration process. Existing suppliers or customers can be notified of requests for additional information. Company Profile and Vendor Management collects, cleans, validates and maintains supplier and customer data provided through the portal, routes the information for approval based on pre-defined business rules, and transmits approved data to the appropriate ERP system or other financial system.

The service manages data such as supplier and customer contacts and locations, remittance information, tax information, ownership information, diversity classifications, supplier classification, insurance and ISO certifications, banking information, payment terms, and contract information. Additionally, Invoices On-Line™ provides a PCI Compliant Payments Gateway that safeguards the card information entrusted to Direct Insite. 

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 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™ 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.

Corporate Contact:
Matthew E. Oakes
President, Chief Executive Officer and Director
Direct Insite Corp.
954.510.3750

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