Direct Insite, a provider of cloud-based e-invoicing solutions for accounts payable, accounts receivable and payments automation, today announced that it has delivered its Invoices On-Line (IOL) portal to one of North America’s largest providers of automotive replacement parts, accessories and supplies.
The parts supplier is initially using the Invoices On-Line’s ePayments Services portal to electronically receive and process payments from its commercial customers, immediately improving the parts supplier’s Days Sales Outstanding (DSO). Invoices On-Line provides the parts supplier’s clients and internal customer service and collections groups with improved visibility into payment status, enhancing customer service and facilitating collaborative payment activities among the parties.
A PCI Compliant Payment Gateway, Direct Insite’s Invoices On-Line ePayment Services portal is helping the parts supplier safeguard cardholder data and prevent payment fraud. Meeting the requirements of PCI Compliance, Invoices On-Line never stores sensitive payment data regarding the merchant’s services within the merchant’s firewalls. Deploying Direct Insite’s Invoices On-Line creates a platform for the parts supplier to present electronic invoices to its customers and automate its invoice workflow and dispute management.
Invoices On-Line’s ePayment Services portal supports the secure disbursement, receipt and processing of payments via credit card or the Automated Clearing House Network. Users can schedule and pay one or many invoices via the service. Payment remittance information is automatically synchronized with the Invoices On-Line user’s enterprise resource planning (ERP) system.
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More companies are looking towards electronic payment solutions in an effort to lower costs and streamline their accounts payable. Watch for PayStream’s Electronic Supplier Payments report slated for release in June of 2012. This Buyer’s Guide and Vendor Analysis report is targeted for accounts payable and procurement professionals who are seeking information regarding solutions that facilitate electronic payments and remittance information to suppliers.