Top Image Wins Over $350,000 Contract At Leading European Logistics Service Provider
TEL AVIV, Israel and COLOGNE, Germany (GlobeNewswire via COMTEX) -- Top Image Systems, Ltd. TISA +5.22% , a leading ECM (Enterprise Content Management) intelligent content capture and delivery solutions provider, today announced signing a contract valued at over $350,000 to deploy eFLOW(R) at one of Europe's largest logistics companies. The company, with a long-standing history in food logistics, will employ eFLOW to automatically process over 180,000 incoming invoices annually. Following the completion of the implementation of the new solution at the company's German locations, in the second phase, the system will be expanded to the company's other European locations. This growth-oriented enterprise also plans to expand to a fully automated Digital Mailroom solution.
The logistics business will benefit from the complete integration of eFLOW with the existing SAP infrastructure, as well as from controlling and optimizing the document-based business processes on the modular eFLOW platform. In addition to speeding up turnaround times for invoice processing and reducing multiple sources for errors, the solution will free company employees from time-consuming, tedious manual routine tasks to instead engage in value-added activities, thus further raising service levels for both the company's clients and suppliers.
"Top Image won this project over the competition because of the outstanding quality of technology used in eFLOW," comments Michael Schrader, Managing Director of TIS EMEA. "More and more companies and institutions in varied sectors around the world are realizing the great potential for process optimization that can be tapped with our solutions. Top Image Systems helps companies gain a competitive advantage in today's tough international market."
About Top Image Systems
Top Image Systems (TIS) Ltd. is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver content across enterprise applications. TIS' eFLOW Platform is a common platform for the company's solutions which is marketed in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers and strategic partners. Visit the company's website at http://www.TopImageSystems.com for more information.
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Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied in those forward-looking statements. Words such as "will," "expects," "anticipates," "estimates," and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development, approval and introduction plans and schedules, rapid technological change, customer acceptance of new products, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, litigation, general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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CONTACT: Company Contact:
Shelli Zargary
Director of Corporate Marketing and Investor Relations
shelli.zargary@topimagesystems.com
+972 3 767 9114
Investors:
James Carbonara
Regional Vice President, Hayden IR
james@haydenir.com
+ 1 646 755 7412
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SOURCE: Top Image Systems Ltd.