TEL AVIV, Israel and PLANO, Texas, June 28, 2017 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, today announced that the company is demonstrating continued momentum for the eFLOW AP solution in 2017.
Examples of deals Top Image Systems has closed this year include an agreement with a retail chain in North America through a strategic partner, an expanded license with a leading data management company in India, and transactions with a consumer goods manufacturer, a medical device manufacturer, a leading utilities provider in Germany, and a business process outsourcing partner in the UK. These deals are an indication that the new eFLOW AP solution is gaining traction, further strengthening the reputation of TIS for delivering scalable accounts payable automation solutions globally.
“The growing adoption of our eFLOW AP solution is based on multiple things—an intuitive user experience, which enables finance organizations to control the entire AP process from inside SAP within a familiar environment, the elimination of data redundancy, and the efficient leveraging of existing SAP infrastructure, including new SAP functionalities such as FIORI,” said Carsten Nelk, Chief Technology Officer of Top Image Systems.
“We are encouraged by the traction we are seeing with eFLOW AP, particularly within mid-market companies,” commented Brendan Reidy, CEO of Top Image Systems. “Our solution enables finance organizations to gain real-time insight into key payment metrics such as Days Payables Outstanding, as well as reduce processing transaction costs while increasing return on invested capital by extending early payment discounts to preferred suppliers. In addition, our existing install base of eFLOW customers who are currently deploying eFLOW to automate the capture of vendor invoices represent upsell opportunities for us to upgrade them to our eFLOW AP solution. Our customers are realizing tangible ROI associated with our accounts payable automation solutions.”1
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a global innovator of on-premise and cloud-based applications that optimize content-driven business processes such as procure to pay operations, remittance processing, integrated receivables, customer response management and more. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications, transforming information entering an organization into useful and accessible electronic data, delivering it directly and efficiently to the relevant business system or person for action with as little manual handling as possible. TIS’ 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.
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1 https://www.topimagesystems.com/resources/idc-buyer-case-study-bosch-streamlines-invoice-processing-tis/
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.