SUNRISE, Fla., April 11, 2012 /PRNewswire/ -- Direct Insite (OTC BB: DIRI), a leading provider of cloud-based e-invoicing solutions for accounts payable, accounts receivable and payments automation, today announced that it has deployed its Invoices On-Line (IOL) suite of AP automation processing capabilities in the shared services environment of one of the world's leading lighting product and services company. The value of the deal over the contract period of three years is approximately $1,100,000 USD.
Direct Insite's Invoices On-Line AP automation portal and its flexible workflows and business rules enabled the company to automate processes such as: electronic invoice receipt, invoice scanning and capture, supplier registration and inquiry, electronic invoice processing, enterprise workflow and compliance/dispute management, and reporting.
Direct Insite's Invoices On-Line solution leveraged the significant investment made by the lighting manufacturer in an enterprise resource planning (ERP) system from SAP. Direct Insite's integration with SAP was a critical factor in the company's decision to select Direct Insite. Direct Insite is an SAP Certified Integrator, which affirms Invoices On-Line's ability to integrate with SAP solutions. Direct Insite's proven track record in global shared services environments, the breadth of its supplier network, and its effective supplier on-boarding program were additional selling points for the company.
"Forward-thinking companies are transforming their invoicing processes with tighter integration between systems and more flexible workflows and business rules. This evolution results in new ways to engage stakeholders, reduce paper/ manual processes and speed up cash flow," said Direct Insite President and CEO Matthew E. Oakes. "Today's announcement further validates the benefits of our e-invoicing platform and ability to improve business outcomes in the most complex financial environments."
About Direct Insite
Direct Insite delivers on-demand AP and AR solutions that are deployed fast, with minimal cost and operational impact, and provide significant benefits across the financial supply chain. Since it was founded in 1987, Direct Insite has built a track record in automating some of the most demanding financial environments. Today, more than 100,000 corporations use our solutions 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/submission, purchase order submission/distribution/acknowledgement, invoice processing/validation, line-item matching, approval routing, invoice consolidation, dispute management, payment portal/processing, and reporting and analysis. For more information on Direct Insite, visit www.directinsite.com.
Invoices On-Line is a trademark of Direct Insite.
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.
Matthew E. Oakes
President and Chief Executive Officer
Direct Insite Corp.
SOURCE Direct Insite