Power of PAYBOX®
Direct Insite Corp Upgrades PAYBOX® Integrated Receivables Platform Providing Banks with More Opportunities to Help Their Clients Soar
FT. LAUDERDALE, FLORIDA, October 13, 2015, -- Direct Insite® (OTCQB: DIRI), announced today that it has further enhanced its PAYBOX® unified working capital management platform. Additional functionality includes the digital capture of payment and remittance information matched with the PAYBOX® CORE invoice distribution product, creating a complete Integrated receivables offering, benefitting banks and their corporate customers.
“PAYBOX® Integrated Receivables transforms an invoicing product into a true integrated receivables service,” said Direct Insite Chairman and CEO Matthew E. Oakes. “You can’t have an integrated receivables product without the invoice, and this is the only platform on the market where the invoice stays with the transaction throughout the entire process in a secure SAAS environment.”
How a bank’s corporate customers use PAYBOX® Integrated Receivables:
- A customer imports an open invoice into PAYBOX® from their ERP system.
- The invoice is distributed according to the customer’s preferences.
- Invoice adjustments and approvals can be made and viewed in real time.
- The payment is sent back with invoice and remittance information.
- This information is extracted, verified and matched for reporting purposes.
The latest PAYBOX® enhancements also address audit risks and compliance, while providing an integrated, matched file that may be archived and accessed as needed. Banks will be able to enhance and expand their relationships with their corporate clients by helping them lower their Days’ Sales Outstanding and processing costs, and dramatically improving straight-through AR posting.
Direct Insite® will be showcasing the latest advancements to its PAYBOX® platform at the 2015 Association for Financial Professionals Annual Conference in Denver from October 18th to the 21st. Executives who schedule their demo in advance of the show will be entered to win a drone. Contact Jim McShea, Direct Insite’s Vice President of Sales & Marketing, at email@example.com or (631) 873-2910 for details.
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About Direct Insite®
Direct Insite® provides a powerful platform for unified working capital management that facilitates over $160 billion worth of transactions annually between more than 375,000 companies worldwide. Direct Insite’s clients include IBM, Siemens, BE Aerospace, Saint Gobain, Carlson and one of the world’s largest financial institutions. The flagship component of Direct Insite’s unified working capital management platform is PAYBOX®. This innovative receivables automation solution facilitates invoice processing, online approvals and adjustments, and payments. PAYBOX® can be integrated with any legacy accounting, ERP or lockbox system, and is primarily sold through banks to corporate users of their treasury management and lockbox services. Banks and corporations use PAYBOX® to lower their Days’ Sales Outstanding, reduce costs, and dramatically improve straight-through AR posting.
Lowell M. Rush
Chief Financial Officer
Direct Insite Corp.