The company signs a large contract to provide eInvoicing platform to American multinational confectionery, food and beverage conglomerate.
Direct Insite Corp. (OTC BB: DIRI), a provider of cloud-based e-invoicing solutions for Accounts Payable, Accounts Receivable, and Payments Automation, announced that 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 USD.
The customer will deploy Direct Insite’s Invoices On-Line (IOL) 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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Direct Insite’s Invoices On-Line (IOL) suite of AP automation processing solutions was highlighted in PayStream’s 2012 eInvoicing Benchmarking report. To learn more about eInvoicing automation, download a complimentary copy of the report today.