SOURCE: Direct Insite Corp.

Direct Insite Corp.

October 04, 2011 17:17 ET

Direct Insite Appoints Sandra Wallace Vice President of Finance and Acting Chief Financial Officer

SUNRISE, FL--(Marketwire - Oct 4, 2011) - Direct Insite (OTCBB: DIRI), a provider of on-demand services for accounts payable, accounts receivable and payments automation, today announced the appointment of Sandra Wallace, CPA, as Vice President of Finance and Acting Chief Financial Officer. Wallace will report to Matthew Oakes, President and Chief Executive Officer of Direct Insite (

Wallace has more than 25 years of professional accounting, finance, tax, management and operations experience with both public and private companies in an array of different industries. She has been employed by and consulted for business entities ranging in size from small startups to large multi-nationals. Through these experiences, Wallace is skilled in accounting, finance and operations management, internal controls, financial modeling, budgeting, corporate acquisitions, systems analysis, SEC compliance and reporting, debt and equity financing, taxation and contract negotiation.

"Sandra Wallace is a seasoned executive with deep finance and operations expertise, strong business acumen and a proven track record in leadership positions," said Oakes. "I look forward to the considerable talents that she will bring to our team as we work to accelerate Direct Insite's growth."

Prior to joining Direct Insite, Wallace provided finance, accounting and technology management consulting services, including oversight of independent auditors and development of accounting and finance functions, for a variety of public and private companies. Before starting her consulting practice, Wallace held senior finance and operations positions for a publicly-held beverage industry company. She previously was Vice President and Chief Financial Officer of a private residential real estate developer, Finance Director of a publicly-traded workforce solutions company, and Controller of a publicly-held consolidated group of corporations in the tobacco, real estate and investment industries. Wallace began her career with the international audit, tax and advisory firm, KPMG LLP.

Wallace earned her Master of Science degree in Accounting from Oklahoma State University and a Bachelor of Science degree in Business Administration from the University of Minnesota.

She is a member of the American Institute of Certified Public Accountants and the Florida Institute of Certified Public Accountants.

About Direct Insite
Direct Insite delivers on-demand AP and AR solutions that are deployed fast, with minimal cost and operational impact, and provide significant benefits across the financial supply chain. Since it was founded in 1987, Direct Insite has built a track record in automating some of the most demanding financial environments. Today, more than 100,000 corporations use our solutions across 100 countries (representing more than 35 currencies and 17 languages). Direct Insite's Invoices On-Line (IOL) suite simplifies AP and AR processes such as: electronic invoice distribution/submission, purchase order submission/distribution/acknowledgement, invoice processing/validation, line-item matching, approval routing, invoice consolidation, dispute management, payment portal/processing, and reporting and analysis. For more information on Direct Insite, visit

Invoices On-Line is a trademark of Direct Insite.

All other product and service names mentioned herein are the trademarks of their respective owners.

FORWARD-LOOKING STATEMENTS. All statements other than statements of historical fact included in this release, including without limitation statements regarding the company's financial position, business strategy, and the plans and objectives of the company's management for future operations, are forward-looking statements. When used in this release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the company's management, as well as assumptions made by and information currently available to the company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, business and economic conditions, competitive factors and pricing pressures, capacity and supply constraints. Such statements reflect the views of the company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the company. Readers are cautioned not to place undue reliance on these forward-looking statements. 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.

Contact Information

  • Corporate Contact:
    Matthew Oakes
    President and CEO
    Direct Insite Corp.