-Direct Insite to provide e-invoicing platform to American conglomerate.
M2 EQUITYBITES-June 27, 2012--Direct Insite to provide e-invoicing platform to American conglomerate(C)2012 M2 COMMUNICATIONS http://www.m2.com
Cloud-based e-invoicing provider Direct Insite Corp. (OTCBB: DIRI) said it has signed a major customer contract for an American multinational confectionery, food and beverage conglomerate. The three-year deal is valued at approximately $2 million.
The customer will deploy Direct Insite's Invoices On-Line suite of AP automation processing capabilities in its global shared services environment and integrate directly with both the customer's SAP and other financial systems. The Invoices On-Line AP portal, with its flexible workflows and business rules, will enable the customer's automation of processes such as: electronic invoice receipt, validation and inquiry, electronic invoice processing, workflow with compliance/dispute management, and reporting.
Electronically receiving and posting supplier invoices using the cloud-based Invoices On-Line AP portal enables the customer to significantly reduce average invoice processing costs and supplier inquiries while accelerating invoice-processing turnaround. Invoices On-Line enables the electronic receipt of invoices; provides online Web-form entry, "flipping" of purchase orders into invoices and uploading of invoice information from within a spreadsheet or uploading of electronic invoices directly from a supplier's billing system through the industry standard EDI or XML formats.
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