XML 19 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
NATURE OF BUSINESS
12 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
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 three major customers (one of which has separate contracts with multiple companies) that accounted for 80.5% and 85.7% of the Company’s revenue for the years ended December 31, 2015 and 2014, respectively.  Loss of any of these customers, or any of the separate contracts under a main customer, could have a material effect on the Company (see Note 10).