Power of PAYBOX®
Direct Insite Forms Strategic Partnership With Data Dimensions to Provide End-to-End Invoice Automation Solution
FT. LAUDERDALE, Fla., May 17, 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 has added Data Dimensions Corp, a leader in outsourced business process automation, as a preferred partner for mailroom, scanning and data capture.
Despite the growth of electronic invoicing, paper-based invoices account for the majority of invoices received by companies. Even within Best-in-Class enterprises, paper invoices account for 60 percent of total invoice volume, according to Aberdeen Group. This presents an immense challenge for AP.
Partnering with Data Dimensions provides Direct Insite's clients with a modular, end-to-end service for automating the capture of data from mailed-in, faxed or e-mailed invoices. Images and data from the invoices captured by Data Dimensions are electronically transmitted to Direct Insite's Invoices On-Line™ e-invoicing platform, where they are processed. Consolidating all invoices into Invoices On-Line™ eliminates standalone systems and processes, streamlines approval workflows, ensures processing consistency, and provides greater visibility into invoice status and information.
The combined solution automates invoice processing functions such as scanning, data capture, electronic invoice submission, approval workflow, dispute management, and payment generation.
"Direct Insite formed this strategic relationship with Data Dimensions to deliver a Zero Footprint approach to automating invoices that are not submitted through the Invoices On-Line™ portal. Data Dimensions will support the mailroom, scanning and data capture of invoices and other business documents for Direct Insite clients, complementing our electronic invoicing services and providing our clients with an end-to-end solution for processing invoices, regardless of the format or the source," commented Direct Insite President, Chief Executive Officer and Director Matthew E. Oakes.
"Data Dimensions is pleased to partner with Direct Insite to offer an end-to-end solution for invoice automation. The combination of our outsourced mailroom, scanning and data capture services and Direct Insite's e-invoicing suite provides a cost-effective solution for automating all of a company's invoices, while delivering valuable insights for managing working capital and capturing more supplier discounts," said Data Dimensions President and Chief Executive Officer Jon Boumstein.
About Data Dimensions
Since 1982, Data Dimensions has been helping clients better manage business processes and workflows by bridging the gap of automation, technology, and physical capabilities. As an innovative leader in the area of information management and business process automation, we provide a complete range of outsourcing and professional services including mailroom management; document conversion services; data capture with OCR/ICR technologies; electronic and physical records storage and retrieval services; professional services through our state of the art tier III data center. To learn more about Data Dimensions, visit www.datadimensions.com or call 800-782-2907.
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 (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.
Matthew E. Oakes
President, Chief Executive Officer and Director
Direct Insite Corp.
President and Chief Executive Officer