FT. LAUDERDALE, Fla., Sept. 3, 2014 (GLOBE NEWSWIRE) -- Direct Insite Corp. (OTCQB:DIRI), today announced that the company is ranked among the top 500 software and solutions providers in the world by Software Magazine. The ranking comes as Direct Insite is experiencing strong interest for its new PAYBOX™ receivables platform for banks and corporations. PAYBOX™ significantly accelerates cash flow by combining capabilities for e-invoicing, online approvals and adjustments, electronic payments, receivables integration, and supply chain financing.
"Direct Insite's ranking among the world's largest software and services providers is further proof of our standing as a leading provider of working capital management solutions to banks and corporations," said Direct Insite Chairman and CEO, Matthew E. Oakes. "Direct Insite's new PAYBOX™ platform, already in production at one of the world's largest financial institutions, positions banks to expand beyond treasury services and tap into a potential $1 trillion market for financial services products. Our track record of success and innovation has made Direct Insite one of the world's largest solutions providers, and it will fuel our growth in the future."
Direct Insite will demonstrate PAYBOX™ in booth No. 1350 at the Association for Financial Professionals (AFP) Annual Conference, November 2-5, at the Walter E. Washington Convention Center in Washington, D.C.
"The Software 500 helps CIOs, senior IT managers, and IT staff research and create the short list of business partners," said John P. Desmond, editor, Software Magazine. "It is a quick reference of vendor viability. And the online version, to be posted soon at www.softwaremag.com, is searchable by category, making it what we call the online catalog to enterprise software."
Software Magazine's Software 500 is a revenue-based ranking of the world's largest software and services suppliers, targeting medium to large enterprises, their IT professionals, software developers, and business managers involved in software and services purchasing.
The ranking is based on total worldwide software and services revenue from the 2013 fiscal year. This includes revenue from software licenses, maintenance and support, training, and software-related services, and consulting. Suppliers are not ranked on total corporate revenue, since many have other lines of business, such as hardware. Financial information is gathered by a survey prepared by Rockport Custom Publishing, LLC. Using public documents and company input. It is published in print as well as posted online at www.softwaremag.com as both a digital edition and searchable database.
About Direct Insite
Direct Insite is a leading provider of working capital management solutions with capabilities for Accounts Receivable, Accounts Payable and Payments. Direct Insite facilitates $160 billion worth of business-to-business transactions annually between more than 375K companies worldwide. Direct Insite offers banks and businesses an innovative Accounts Receivable solution, called PAYBOX™, that significantly accelerates cash flow and reduces the need for borrowing. Direct Insite also has the largest installed customer base in global AP financial shared services centers serving companies in more than 100 countries, and representing more than 35 currencies and 17 languages. To learn more, visit www.directinsite.com.
About Software Magazine and Rockport Custom Publishing
Software Magazine has been a brand name in the high-tech industry for more than 38 years. Softwaremag.com, its Web counterpart, is the online guide to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies. Software Magazine and Softwaremag.com are owned and operated by Rockport Custom Publishing. Rockport Custom Publishing is a leading integrated media company focusing on technology. For more information, visit: www.rockportpubs.com.
CONTACT: Corporate Contact:
Matthew E. Oakes
Chairman & CEO
Direct Insite Corp.
Source: Direct Insite Corp.