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Direct Insite Corp. Signs Contract to Provide E-Invoicing AP Portal to Leading Grocery Retailer
Direct Insite (OTC BB: DIRI.OB), a leading provider of cloud-based e-invoicing solutions for Accounts Payable, Accounts Receivable and Payments automation, today announced that it has signed a customer contract with a leading U.S. grocery retailer. The three-year contract is valued at more than $500,000.
The customer initially will deploy Direct Insite's Invoices On-Line e-invoicing AP portal to provide suppliers with self-service access to invoice and payment status. The portal will integrate directly with the customer's enterprise resource planning (ERP) system. The customer expects the Invoices On-Line portal to significantly reduce its volume of telephone and e-mail inquiries from suppliers.
"This contract continues the significant expansion of our global supplier network, adds another marquee name to our growing customer list, and further validates the compelling operational and financial benefits provided by the Invoices On-Line e-invoicing AP portal," said Direct Insite President, CEO and Director, Matthew E. Oakes. "Innovative progressive companies are utilizing Invoices On-Line functionality to enhance and exploit their existing ERP software and become more automated in their relationships with suppliers and customers. With IOL’s functionality extending across multiple ERPs, we see this as great growth opportunity and are focused on capturing additional market share."
About Direct Insite Corp.
Direct Insite delivers cloud-based e-invoicing solutions for Accounts Payable, Accounts Receivable 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.
All other product and service names mentioned herein are the trademarks of their respective owners.
Direct Insite Corp.
Matthew E. Oakes
President, Chief Executive Officer and Director