COLOGNE, Germany, June 14, 2016 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, today announced it will showcase its next-generation accounts payable (AP) automation solution eFLOW® AP to the European SAP community at the Financials2016 event being held in Vienna on June 20 – 22. The SAP®-certified solution provides a 360 degree view into AP processes within the familiar SAP environment, thereby providing an integrated view into the vendor invoice processing cycle—invoice data capture, workflow automation, automatic posting, line item extraction, exception handling and approval without leaving the familiar SAP interface. This is the key to delivering the real-time reporting and analytics required to improve operational performance, optimize cash flow and ensure compliance, control, and security.
The eFLOW AP solution builds on and extends TIS’ reputation for delivering scalable accounts payable automation solutions to some of the most well-known companies in the world, including leading enterprises across Europe.
The eFLOW AP solution, SAP-certified to run on SAP HANA®, extends the value of customers’ SAP investments by delivering seamless integration, flexible SAP workflows, simplified exception resolution and enhanced visibility into AP data, all within SAP. “The combination of OCR on the fly inside of SAP which enables users to control the entire AP process from inside SAP, ad-hoc real time analytics, a familiar environment, the elimination of data redundancy and the efficient leveraging of existing SAP infrastructure – including new SAP functionalities such as FIORI - offers great benefit and most importantly, a simplified user experience,” said Carsten Nelk, Chief Technology Officer at TIS.
“The demand for AP automation solutions, particularly within mid-market companies, is expected to remain strong,” comments TIS CEO Michael Schrader. “In an uncertain economic climate, finance executives are stressing the need for efficient and timely allocation of capital. Automating invoice processing empowers AP staff to provide real-time insight into key payment metrics such as Days Payables Outstanding, as well as useful analysis of supplier performance, including supplier discounts that can result in higher return on invested capital.”
Top Image Systems warmly welcomes Financials 2016 Vienna attendees to visit us in Booth 475 to learn more about the benefits of eFLOW AP.
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications. TIS’ flagship eFLOW platform and diverse business process and mobile image processing solutions are 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.
Top Image Systems 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.