The document discusses Direct Insite, a company that provides cloud-based accounts payable and accounts receivable automation solutions. It notes that some statements may be forward-looking and discusses risks associated with such statements. It then provides an overview of Direct Insite's solutions, customers, and competitive advantages. Key points include its large network of over 450,000 suppliers and customers transacting over $130 billion annually, recurring revenue SaaS model, and opportunities for growth through new products, acquisitions, and leveraging its network.
Direct Insite (“DIRI”) provides cloud-based, ERP-agnostic solutions that automate Accounts Payable (AP) and Accounts Receivable (AR) invoice processes for Global 3000 companies. Their solutions include invoice validation, order matching, consolidation, dispute handling and e-payment processing. DIRI helps clients eliminate manual processes and costs associated with doing everything on paper. By migrating from paper to electronic, DIRI can reduce transactions costs 50-70% and reduce time by 80%. Current clients include Siemens, HP, IBM, Saint-Gobain, Shell Oil, and Hyatt with a Global vendor network of 350,000+ suppliers.
[Whitepaper] From Profit Recovery To Retention Anybill
Many companies today rely on “post-transaction recovery” to audit, reconcile and recover mistaken vendor payments. However, this blunt-force, after-the-fact approach to invoice reconciliation is extraordinarily costly and wasteful.
Due to process inadequacies in their accounts payable (AP) departments, they are cutting checks that are not owed, paying phantom bills and contributing to various forms of “profit leakage.”
Best-in-class companies, however, have discovered that these operational mistakes are preventable. Leveraging Intelligent Invoice Reconciliation (IIR) solutions, they are engaging in the “pre-transaction retention” of mishandled payables—taking action before dollars erroneously fly out the door. By analyzing their transaction data in real-time and reconciling invoices with payables, they are pre-empting AP leakage, enhancing operational processes and protecting their profits.
This position paper explains how these advanced companies are rethinking their approaches to invoice reconciliation and establishing a stronger foundation for accounts payable.
Direct Insite (“DIRI”) provides cloud-based, ERP-agnostic solutions that automate Accounts Payable (AP) and Accounts Receivable (AR) invoice processes for Global 3000 companies. Their solutions include invoice validation, order matching, consolidation, dispute handling and e-payment processing. DIRI helps clients eliminate manual processes and costs associated with doing everything on paper. By migrating from paper to electronic, DIRI can reduce transactions costs 50-70% and reduce time by 80%. Current clients include Siemens, HP, IBM, Saint-Gobain, Shell Oil, and Hyatt with a Global vendor network of 350,000+ suppliers.
[Whitepaper] From Profit Recovery To Retention Anybill
Many companies today rely on “post-transaction recovery” to audit, reconcile and recover mistaken vendor payments. However, this blunt-force, after-the-fact approach to invoice reconciliation is extraordinarily costly and wasteful.
Due to process inadequacies in their accounts payable (AP) departments, they are cutting checks that are not owed, paying phantom bills and contributing to various forms of “profit leakage.”
Best-in-class companies, however, have discovered that these operational mistakes are preventable. Leveraging Intelligent Invoice Reconciliation (IIR) solutions, they are engaging in the “pre-transaction retention” of mishandled payables—taking action before dollars erroneously fly out the door. By analyzing their transaction data in real-time and reconciling invoices with payables, they are pre-empting AP leakage, enhancing operational processes and protecting their profits.
This position paper explains how these advanced companies are rethinking their approaches to invoice reconciliation and establishing a stronger foundation for accounts payable.
B2B Payments in the Networked Age: How to Reduce Risk, Improve Communication,...SAP Ariba
"While innovation abounds in the consumer world, the most recent true innovation in B2B payment was introduced the same year as the Betamax videotape (1975) using the same IBM patented technology as the 1960's Bat-computer. With more than 50 percent of U.S. payments being made by check, and electronic B2B payment methods that contain too little information, businesses struggle with the consequences of a payment system that is opaque, complex, risky, and disconnected from their core payables and P2P processes. In the Networked Economy of the 21st century, this should not be so and B2B payments are ripe for needed change.
In this session, you will hear from industry experts and Ariba customers about how AribaPay (Ariba's groundbreaking B2B payment solution) is changing the game by:
• Removing the need for companies to capture, manage, and maintain vendor bank information inside their ERP
• Integrating payment directly into the P2P process
• Delivering rich remittance and track and trace payment visibility to suppliers
• Virtually eliminating payment risk and the need to field supplier inquiries
• Supercharging P2P supplier enablement efforts"
Automating Payables for the SME Market: Diving Head First into AP AutomationAnybill
This Technology Insight report is for small and mid-sized enterprises with an interest in payables automation. The report includes the latest adoption statistics, current thinking, best practices, strategies, and key performance indicators for evaluating and selecting the solution that meets your needs.
Automation of business-to-business (B2B) payments continues to remain elusive. While checks are stubbornly pervasive, there is promising news in the vision for processing data and dollars among business partners. This session will detail NACHA and other industry organizations’ initiatives leading the way in facilitating the move from paper instruments to electronic payments by mid-sized and smaller businesses. Learn about opportunities for electronic disruption and where financial institutions might begin to gain traction in B2B ACH payments.
Property & Casualty Commercial Lines Underwriting: The New PlaybookCognizant
P&C commercial lines carriers are experiencing a global transformation that will compel them to reexamine their operating models, implement direct-to-consumer strategies, reengineer their processes and technologies, and achieve and sustain profitable growth in the age of digital.
We examine the impact of new technologies and challenges for procurement professionals. Artificial intelligence, robotics, machine learning, big data, quantum computing and the Internet of Things will literally rewrite the future of humankind in code and revolutionise the roles of government, business and human communications.
www.supplychange.me
With the unpredictable economic environment and the importance of cash and liquidity on the corporate agenda, finance executives are evaluating the effectiveness of current operations across payables and receivables. Many companies are turning to payment factories to deliver value across the entire organization.
CGI Voice of the Client Telecoms Industry IT Trends for 2015Stephen Craig
CGI Voice of the Client Analysis for 2015 in the Global Telecommunications Industry. Includes IT trends analysis and business implications. Key topics for 2015: IT Modernization, Digital Transformation, Customer Experience, Omni-channel strategies, and Outsourcing.
North American Utility Sparks Up its Complaint Handling SystemCognizant
Electric utility's new complaint handling system reduces resolution times, increases staff productivity, boosts customer satisfaction and improves regulatory compliance.
Restaurants in 2019 continue to face several challenges, including everything from attracting and retaining customers to hiring and training staff. These challenges, both customer-facing (“Front of House”) and operations-focused (“Back of House”), keep restaurant profit margins low at 6% and contribute to the industry’s high failure rate. Increasingly, restaurants are more attune to these pain points and seek out restaurant-focused software and tech-enabled outsourcing solutions to increase sales volumes and reduce costs. As a result, the restaurant tech stack continues to evolve, providing restaurants with more options than ever to help them improve and grow their businesses.
Catalyst has a wealth of experience backing vertical-specific businesses, including one currently in the Restaurant Tech space (ChowNow). We believe restaurants will continue to actively seek out best in-class restaurant-specific solutions, and are eager to partner with more of these businesses seeking growth equity capital.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator or investor in a growth stage Restaurant Tech company, we would like to hear from you. Please send inquiries and business plans to kapil@catalyst.com.
Did you know? | Procure-to-Pay Statistics You Should KnowTaulia
Whether you're a Procurement, Accounts Payable, Treasury, or Shared Services professional--here are interesting statistics you need to know right now to help your department make informed decisions about P2P automation.
This presentation is perfect for you if you're need to achieve cross-departmental buy-in on an existing project or if you're considering a procure-to-pay software solution initiative.
The complexity of the merchant onboarding and KYC compliance processes for card acquirers is quite staggering. Read why Card Acquirers Need Rapid Integration and Operationalized Risk Models to Meet Merchant Demand for Fast Onboarding
How SupplierPay Will Impact Your Business and How to Get AheadTaulia
On July 11th, 2014, The White House announced an early payment initiative called SupplierPay to help small businesses get access to financing. President Obama selected a group of top executives from 26 of the largest U.S. companies, many of which are already using Taulia, to discuss the impact supplier financing has on the small business economy.
This isn't new to us--we've been helping Fortune 500 companies pay their suppliers earlier for over 6 years.
In this presentation, discover:
-What exactly SupplierPay is and why it matters to the economy
-The impact SupplierPay will have on your business
-How you can easily get ahead
B2B Payments in the Networked Age: How to Reduce Risk, Improve Communication,...SAP Ariba
"While innovation abounds in the consumer world, the most recent true innovation in B2B payment was introduced the same year as the Betamax videotape (1975) using the same IBM patented technology as the 1960's Bat-computer. With more than 50 percent of U.S. payments being made by check, and electronic B2B payment methods that contain too little information, businesses struggle with the consequences of a payment system that is opaque, complex, risky, and disconnected from their core payables and P2P processes. In the Networked Economy of the 21st century, this should not be so and B2B payments are ripe for needed change.
In this session, you will hear from industry experts and Ariba customers about how AribaPay (Ariba's groundbreaking B2B payment solution) is changing the game by:
• Removing the need for companies to capture, manage, and maintain vendor bank information inside their ERP
• Integrating payment directly into the P2P process
• Delivering rich remittance and track and trace payment visibility to suppliers
• Virtually eliminating payment risk and the need to field supplier inquiries
• Supercharging P2P supplier enablement efforts"
Automating Payables for the SME Market: Diving Head First into AP AutomationAnybill
This Technology Insight report is for small and mid-sized enterprises with an interest in payables automation. The report includes the latest adoption statistics, current thinking, best practices, strategies, and key performance indicators for evaluating and selecting the solution that meets your needs.
Automation of business-to-business (B2B) payments continues to remain elusive. While checks are stubbornly pervasive, there is promising news in the vision for processing data and dollars among business partners. This session will detail NACHA and other industry organizations’ initiatives leading the way in facilitating the move from paper instruments to electronic payments by mid-sized and smaller businesses. Learn about opportunities for electronic disruption and where financial institutions might begin to gain traction in B2B ACH payments.
Property & Casualty Commercial Lines Underwriting: The New PlaybookCognizant
P&C commercial lines carriers are experiencing a global transformation that will compel them to reexamine their operating models, implement direct-to-consumer strategies, reengineer their processes and technologies, and achieve and sustain profitable growth in the age of digital.
We examine the impact of new technologies and challenges for procurement professionals. Artificial intelligence, robotics, machine learning, big data, quantum computing and the Internet of Things will literally rewrite the future of humankind in code and revolutionise the roles of government, business and human communications.
www.supplychange.me
With the unpredictable economic environment and the importance of cash and liquidity on the corporate agenda, finance executives are evaluating the effectiveness of current operations across payables and receivables. Many companies are turning to payment factories to deliver value across the entire organization.
CGI Voice of the Client Telecoms Industry IT Trends for 2015Stephen Craig
CGI Voice of the Client Analysis for 2015 in the Global Telecommunications Industry. Includes IT trends analysis and business implications. Key topics for 2015: IT Modernization, Digital Transformation, Customer Experience, Omni-channel strategies, and Outsourcing.
North American Utility Sparks Up its Complaint Handling SystemCognizant
Electric utility's new complaint handling system reduces resolution times, increases staff productivity, boosts customer satisfaction and improves regulatory compliance.
Restaurants in 2019 continue to face several challenges, including everything from attracting and retaining customers to hiring and training staff. These challenges, both customer-facing (“Front of House”) and operations-focused (“Back of House”), keep restaurant profit margins low at 6% and contribute to the industry’s high failure rate. Increasingly, restaurants are more attune to these pain points and seek out restaurant-focused software and tech-enabled outsourcing solutions to increase sales volumes and reduce costs. As a result, the restaurant tech stack continues to evolve, providing restaurants with more options than ever to help them improve and grow their businesses.
Catalyst has a wealth of experience backing vertical-specific businesses, including one currently in the Restaurant Tech space (ChowNow). We believe restaurants will continue to actively seek out best in-class restaurant-specific solutions, and are eager to partner with more of these businesses seeking growth equity capital.
At Catalyst, we employ a proactive, research-based approach to investing, targeting sectors experiencing outstanding growth. If you are an owner, operator or investor in a growth stage Restaurant Tech company, we would like to hear from you. Please send inquiries and business plans to kapil@catalyst.com.
Did you know? | Procure-to-Pay Statistics You Should KnowTaulia
Whether you're a Procurement, Accounts Payable, Treasury, or Shared Services professional--here are interesting statistics you need to know right now to help your department make informed decisions about P2P automation.
This presentation is perfect for you if you're need to achieve cross-departmental buy-in on an existing project or if you're considering a procure-to-pay software solution initiative.
The complexity of the merchant onboarding and KYC compliance processes for card acquirers is quite staggering. Read why Card Acquirers Need Rapid Integration and Operationalized Risk Models to Meet Merchant Demand for Fast Onboarding
How SupplierPay Will Impact Your Business and How to Get AheadTaulia
On July 11th, 2014, The White House announced an early payment initiative called SupplierPay to help small businesses get access to financing. President Obama selected a group of top executives from 26 of the largest U.S. companies, many of which are already using Taulia, to discuss the impact supplier financing has on the small business economy.
This isn't new to us--we've been helping Fortune 500 companies pay their suppliers earlier for over 6 years.
In this presentation, discover:
-What exactly SupplierPay is and why it matters to the economy
-The impact SupplierPay will have on your business
-How you can easily get ahead
Financial Markets Data & Analytics Led TransformationGianpaolo Zampol
How big data, advanced analytics and cognitive computing is disrupting traditional business and operating models in financial markets? New competitors, powered by social, mobile, analytics, and cloud computing, are making new business models emerging rapidly. Wealth Management, Corporate Banking and Transaction Banking & Payments are significant sources of growth in Financial Markets. How take advantage from those new technologies to face this new scenario?
It’s no secret that Accounts Payable is one of the main areas of opportunity for automation and optimization within a finance department.
In this video recap of the webinar held on 2/26/ 2019; Auxis’ RPA Consulting Director Eduardo Diquez together with The CFO Leadership Council, UiPath & Ephesoft discussed a perspective on what it really takes to optimize the end-to-end AP function, its key benefits, key technology solutions in the market, and more.
What was covered:
- What does Modern Finance really mean?
- Digitization as a Key Element of the Modern Finance Organization
- Most Common Tools you should be implementing as part of your Digital Finance journey
- What’s driving RPA’s growth?
- Implementation Strategies & Alternatives
- How Outsourcing can help finance executives self-fund their Digital Finance Strategy and drive faster outcomes
CGI's Steve Starace, SVP & BU Leader, U.S. Northeast explains how CGI’s solutions and services are addressing clients’ top priorities in the banking industry.
Watch the recording of this session and learn how to structure a winning AP automation strategy from beginning to end. We will show demos of Intelligent Data Capture and RPA in action for invoice processing.
Emerging Technologies - The Future Of Finance (CIMA Feb 2019)Michael Sadler
A presentation by IBM on the topic of "The Future Of Finance" examining emerging trends, and how accountants can to prepare for the transition from "running the numbers" to being value-adding partners to the business.
Kundcentrera och anpassa end-to-end processer kring mobilitet, molnet, sociala medier och big data.
Titta närmare på: Big Data (http://www-03.ibm.com/software/products/sv/category/SWP10), BPM (http://www-03.ibm.com/software/products/sv/category/BPM-Software), Social (http://www-03.ibm.com/software/products/sv/category/SWD00)
The UK Payments Barometer, is based on a survey of over 400 financial decision makers, including business owners, CFOs, CEOs, CTOs and COOs, on areas including cash management, fraud and payments. A broad range of UK businesses were included, from small businesses to enterprises organisations. It aims to track the health of UK businesses from a financial decision making and risk management perspective. The 2016 report cites payment fraud and errors as the biggest challenge currently faced by financial decision makers.
2. Some of the statements made in these materials may be forward-looking in nature. If you
want to understand the risks associated with such statements, please review our filings
with the SEC.
All material contained in this presentation is the sole property and copyright of Direct
Insite Corp. with all rights reserved. Certain statements, which are not historical fact, may
be considered forward-looking statements that involve risks and uncertainties. Forward-
looking statements include statements regarding future business results; future sales and
profitability; customer demand; and industry and economic conditions. Various factors
could cause actual results to differ materially from what is set forth in such forward-
looking statements. These factors are set forth in our SEC filings. All are cautioned not to
place undue reliance on these forward-looking statements as the Company does not
undertake any obligation to release publicly any revisions to these forward-looking
statements to reflect future events or circumstances, or to reflect the occurrence of
unanticipated events.
3. Direct Insite provides cloud-based, ERP agnostic solutions that automate
Accounts Payable (AP) and Accounts Receivable (AR) invoice processes.
Blue-chip customer base: IBM, HP, Siemens, St. Gobain, Shell Oil, Hyatt
First-of-its-kind private-label AR solution for banks
Best-in-class AR transformation solution for global enterprises with shared services centers
Ability to accept any invoice, in any format, from any source
No hardware or software capital expense due to cloud-based SaaS business model
Transaction-based pricing and recurring revenue business model
Growing global network of 450,000+ suppliers and companies and plans to monetize
Board/management/associates squarely aligned with shareholders
4. The AP Opportunity
The AP Market
Target market: companies with large shared-service centers, heavy invoice volume, and
multiple legacy financial/ERP systems.
In the Global 3000, only 40% have implemented automation tools.
Even large companies with automation suffer from multiple legacy ERP systems with
inconsistent automation capabilities requiring rework. Direct Insite estimates the market is
only 10% penetrated.
90% of global companies manually enter invoice data and pay invoices with $30 trillion of
paper checks.
Global regulation, anti-money laundering, and tax requirements accelerating move to
electronic record keeping.
As tax and additional regulation move into the US (starting with healthcare), incumbency is
critical for long term and significant growth.
Conclusion: Automation is not an “if,” it’s a “when.”
5. AP Solution Modules
5
Company
Profile
Management
Scan &
Capture
E-Invoicing &
Workflow
Processing
Payment
Processing
Network
Participation/
Payment Gateway
Spend
Management/
Business
Intelligence
Dynamic
Discount
Management
Supply Chain
Financing
Procurement Shared Services Treasury
Invoices On-Line™
Migrate from manual paper-based AP processes to SaaS-based automated processes
6. Direct Insite Corporation
Copyright 2009
Confidential & Proprietary
6
Direct Insite Company Network:
450,000+ Suppliers and Customers Transacting over $130 Billion Annually
Expanding Global Network
7. Automate AP invoice processing
Reduce inquiries from suppliers
Improve relationships with suppliers
Save money
Reduced Costs – Reduced average cost to process an invoice by 24%
Improved Staff Efficiency – Receives 73% of its invoices electronically and posts
payments for 63% of its invoices without operator intervention
Increased Productivity – Reduced work flow time from a more than four days to
less than 12 hours for electronic invoices and less than 2.5 days for paper invoices
Enhanced supplier relationships – Reduced supplier inquiries by 67%
“Invoices On-Line has proven to be an effective tool in the transformation of our
Accounts Payable automation initiatives with a goal of reducing paper handling,
invoicing costs and supplier inquiries.”
-Roderick Fields, GSS NA Director of Disbursement Services
Customer Profile:
• Shared services environment
for the global powerhouse
• Supports more than 50 Siemens
business units
• Processes over 2.4 million
invoices per year
• 60,000 suppliers
• 5,000 internal users
Siemens Shared Services Case Study
8. The AP Opportunity
The AR Market
Receivables management is a $1.3 trillion market worldwide
>14 billion paper B2B invoices generated in the U.S. annually
60% of corporations are dissatisfied with their receivables and payments processes
Only 50% of receivables post without human intervention
75% of corporations say they have too many receivables with incomplete or inaccurate data
74% of corporations say their number of receivables requiring human intervention is rising
9. AR Solution Modules
E-Invoice
Presentment
Invoice Inquiry
Invoice
Approval
Workflow
Electronic
Payments
(ACH, Credit
Card)
Payment
Reconciliation
Spend
Management/
Business
Intelligence
Dynamic
Discount
Management
Supply Chain
Financing
Invoices On-Line™
Migrate from manual paper-based A processes to SaaS-based automated processes
Procurement Shared Services Treasury
10. Automate AR processing
Enhance customer service
Improve overall invoice processing efficiency
Reduce Day’s Sales Outstanding (DSO)
Reduced Costs – Reduced paper invoices by 75%, slashing the cost per invoice on these
items from between $600 - $1,500 per invoice to less than $25 per invoice
Improved Staff Efficiency – Reduced invoice disputes by 65 percent
Reduced DSO – Reduced DSO by approximately four days, resulting in a $50 million
increase in treasury cash available and $4 million in annual savings in interest expense
on these DSO funds
Enhanced supplier relationships – Customer satisfaction with IBM’s invoicing process
jumped from 27% to 72% within six months of implementation
Customer Profile:
• 100 year-old company with
approx. $100 billion in
revenues
• Generates millions of invoices
each year across over 100
countries and 15 languages
• Selected Direct Insite’s IOL
platform to provide: Web-based
line item presentment; dispute
management; attachments
“Transforming IBM’s AR processes with Invoices On-Line™ resulted in a 90
percent reduction in transaction costs, 65 percent fewer billing disputes and
calls, and a 10 percent reduction in DSO. These benefits have annually
delivered tens of millions of dollars in savings to IBM.”
—Ellie Mahoney, Invoices On-Line Americas E-Business Advocate for IBM
11. The AP Opportunity
The Bank Market
Target market: top 100 U.S. banks
Leverage existing bank paper lockbox customers
Virtually all of the top US banks provide lockbox services
Lockbox is a $1 trillion business (fees, float, deposits)
Second-most lucrative bank treasury product behind lending
70% of large corporates use a lockbox
35% of all businesses use a lockbox
Percentage of lockbox users is growing
Virtually all of the top banks are investing in AR services
12. AR Opportunity
Source – CEB Tower Group
How PAYBOX™ Addresses Top Bank Lockbox Priorities:
Replaces lockbox revenues lost to declining check volumes
Improves customer “stickiness” with AR services
Increases operational efficiency through use of invoice file
Creates new revenues through p-card utilization
Provides downstream supply chain financing & AP opportunities
13. AR Opportunity
0.00
2.00
4.00
6.00
8.00
10.00
12.00
2006A 2009A 2012A 2013 Est 2014 Est 2015 Est
10.78
8.6
7.3
6.7
6.2
5.7
5.4
6.0
4.5
4.1
3.7
3.4
CheckBasedPayments
(inbillions)
Check Based Payments - Volume Trends
C2B
B2B
Source: 2013 Fed Payments Study
'13-15 estimatesextrapolated using CAGR's (DJO)
Banks must replace revenue lost to declining B2B check
volumes - and find a way to preserve their lockbox franchise.
14. AR Opportunity
First-of-its-kind private-label AR solution that extends a bank’s treasury services with:
Electronic invoice presentment
Adjustments & approvals
Electronic payments
AR file delivery
Downstream financing
PAYBOX™
18. • Invest in direct sales force, and build a sales culture
• Standardize product offerings to facilitate future new product
introductions and cost efficiencies
• Add new customers and drive usage amongst existing base
• Develop and introduce new products to sell to new and existing base
• Leverage first-mover status for PAYBOX in top 100 banks
• Launch formal channel program for AR and AP solutions
• Create value from the “network effect” in valuable supplier network such
as supply chain financing and compliance management
• Explore opportunistic acquisitions to expand vendor supplier network
10%+
Achieved
10%+
10%+
Company goal is to reach and exceed 30% top line growth by 2015.
2015
2013-
2014
2012
19. Recurring revenue SaaS business model
First-of-its-kind private label AR solution for banks
Trades at lower multiple to peers, but with stronger core customers and offerings
New products & functional extensions coming to existing product suite
Big spending from venture-backed startups to evangelize the market
Robust and growing vendor network and plan to monetize
Automation is a given, financial supply chain will be automated
Opportunity to invest with public company visibility, Global 3000 customer list, and a growing
Global Vendor Network with revenue opportunities growing out of the core business
Industry is fragmented and will continue to consolidate, own a benchmark company in the
space today with upside tomorrow
20. Matthew Oakes
President & CEO
matthew.oakes@directinsite.com
631-873-2932
www.directinsite.com
Contact Information