TEL AVIV, Israel, Jan. 10, 2012 (GLOBE NEWSWIRE) -- Top Image Systems™ (TIS™) Ltd. (Nasdaq:TISA), a leading ECM (Enterprise Content Management) solutions provider, received a $2 million order for its eFLOW™ Forms Classification solution to process the 2011 Italian census. The eFLOW™ technology was selected to manage the challenges of the first Italian census in which the questionnaires have been distributed by post and can be submitted alternatively online, by e-mail, by post or by hand. Census implementers will use the eFLOW™ Forms Classification solution to digitally capture and process - in a record processing time of only four months - an estimated volume of 660 million A4 questionnaire pages submitted by 61 million persons surveyed. Top Image currently has the largest market share for capturing census data as well as managing other high-volume administrative document processing projects.
"The eFLOW™ Forms Classification solution and monitoring tools play a key role in making possible the technological leap that is significantly improving the accuracy, efficiency and the performance of the 2011 Italian Census, one of the most important innovations of which was the decision to distribute the questionnaires by post and let respondents choose from a range of solutions for compiling and returning the forms," remarked Omri Gelb, Executive VP of Top Image Systems.
Mr. Gelb added, "The combination of an enormous volume of documents, complexity of requirements and a very short delivery time made eFLOW™ the only viable solution. We are proud and enthusiastic to have been selected to execute the Italian Censuses and to meet the high performance requirements designated for this most important project."
Top Image has extensive experience in document processing for census projects, as the company has successfully shown its data content management capabilities for several censuses in more than 25 countries over the last twelve years, including projects in Turkey, Brazil, Ireland, Scotland, South Africa, Italy, India, Serbia and Belarus, as well as the prestigious 2011 German census now underway.
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 www.globenewswire.com/newsroom/ctr%3Fd=227112%26l=10%26u=http%253A%252F%252Fwww.TopImageSystems.com" target="_top" rel="nofollow">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.