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NATURE OF BUSINESS
9 Months Ended
Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NATURE OF BUSINESS

Note 1 – Nature of Business

 

Direct Insite Corp. (“Direct Insite” or the “Company”) operates as a Software as a Service provider (“SaaS”), providing financial supply chain automation and workflow efficiencies within the Procure-to-Pay and Order-to-Cash processes. Specifically, Direct Insite’s global electronic invoice (“e-invoice”) management services automate complex manual business processes such as invoice validation, order matching, consolidation, dispute handling, and e-payment processing in a business-to-business transaction based “fee for services” business model.

 

The Company’s revenue comes from (i) recurring, on-going services that are billed monthly; and (ii) non-recurring, professional services derived from the configuration of the Company’s software platform.

 

Throughout the year, the Company operated redundant data centers in Miami, Florida, and Amsterdam, Netherlands.

 

As described in Note 9, the Company has two major customers that accounted for 70.4% and 77.5% of the Company’s revenue for the three months ended September 30, 2015 and 2014, respectively, and 70.6% and 76.6% of the Company’s revenue for the nine months ended September 30, 2015 and 2014, respectively.  Loss of either of these customers would have a material adverse effect on the Company.