FT. LAUDERDALE, FL / ACCESSWIRE / February 2, 2016 / Direct Insite Corp(R) (OTCQB: DIRI), provider of the powerful PAYBOX(R) Cloud for accounts receivable and accounts payable automation platforms, announced today that the company has signed a four-year renewal for its Accounts Payable automation contract with B/E Aerospace with an expected contract value in excess of $2.3 million dollars.
"We are pleased to announce B/E Aerospace's renewal, validating the significant operational and business impact this valued customer is currently receiving in the PAYBOX Cloud AP Platform and will continue to for years to come," said Direct Insite Chairman and CEO Matthew E. Oakes. "We are targeting 90% electronic submission with associated straight through invoice processing, the benchmark we have achieved with other customers."
B/E Aerospace is a leader in corporate organizational AP Automation utilizing the full suite of our web enabled services that include vendor management & onboarding services, multiple electronic invoice submission methods, full integrated PO and non-PO workflow, vendor invoice and payment status notifications, collaborative dispute resolution and advanced reporting and archiving.
About Direct Insite(R)
Direct Insite(R) provides a powerful platform for unified working capital management that facilitates over $160 billion worth of transactions annually between more than 375,000 companies worldwide. Direct Insite's clients include IBM, Siemens, B/E Aerospace, Saint Gobain, Carlson and one of the world's largest financial institutions. The flagship component of Direct Insite's unified working capital management platform is PAYBOX(R) Cloud, which contains AR and AP platforms that customers leverage safely. This innovative automation solution facilitates invoice processing, online approvals and adjustments, and payments. PAYBOX(R) can be integrated with any legacy accounting, ERP or lockbox system. Learn more at www.directinsite.com.
Lowell M. Rush
Chief Financial Office
Direct Insite Corp.
SOURCE: Direct Insite Corp.