Direct Insite, a US-based cloud-based e-invoicing solutions provider, has renewed its existing global services contract with International Business Machines (IBM) for further three years, effective from 1 January 2014.
Additionally, the firm has extended its contract by one-year with IBM for customer presentable invoices, which is also set to come into effect from the same date.
Direct Insite said that IBM will continue to deploy its Invoices On-Line e-invoicing platform, which provides capabilities for generating electronic invoices, including Web-based line-item detail presentment and summary cost data; disputing an invoice line-item or an entire invoice through a self-service Web portal; and attaching collateral information associated with an invoice.
According to Direct Insite, Invoices On-Line will support IBM across six geographies worldwide, including Africa, Asia, Australia, Europe, North America, and South America.
Direct Insite president & CEO, Matthew Oakes, said: "This contract extension confirms the compelling financial and operational benefits provided by the Invoices On-Line(TM) e-invoicing AR portal. We look forward to continuing to provide IBM with enhanced supplier relationships, reduced DSO, improved staff efficiency, and reduced costs."