TEL AVIV, Israel, Sept. 8, 2008 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (TIS) (Nasdaq:TISA) (TASE:TISA), the leading innovator of intelligent document recognition, today announced that it has entered a strategic partnership with Imaging Business Machines, LLC (IBML) to better serve high-end customers with a powerful combined information processing solution.
IBML is a leading provider of document capture solutions designed to help organisations benefit from intelligent high speed scanning and demanding imaging. Their products are used worldwide by leading financial institutions, health insurers and provider organisations, Business Process Outsourcers (BPO), mortgage banks, insurance companies, federal agencies and state governments.
Ashley Keil, Business Development Manager UK, Africa and Western Europe, IBML said, "With TIS's experience in the high volume environment, processing hundreds of millions of documents a year, it is natural for TIS and IBML to collaborate. The intelligent high speed scanning that IBML offers, combined with TIS's advanced data capture recognition technology, provides the market with a strong offering. This is a winning formula, particularly for the high-end market; for paper-heavy organisations the solution provided through our partnership will mean they can benefit from both quicker processes and higher data accuracy."
Oded Leiba, Managing Director, TIS (UK) commented, "We chose to partner with IBML owing to the superior scanning solution provided through ImageTrac; the sorting capability of ImageTrac improves our offering for Lockbox applications. Our partnership with IBML further enhances our end-to-end solution and strengthens our mailroom offering. Our combined solution offers organisations more efficient processes, leading to improved customer services, and compliance against SLA's and industry regulations."
About IBML
IBML provides intelligent scanning technology for the most demanding document imaging applications, including mixed documents of different weights, sizes and compositions. The company's ImageTrac(r) Scanning Platform consists of the ImageTrac scanners, SoftTrac(r) user interface software with DocNetics(r) and professional services. ImageTrac scanners offer front and rear colour image capture, multiple image outputs, barcode, 2D barcode, ICR, MICR and multiple sort pockets. Every day, hundreds of ImageTracs capture millions of colour and bi-tonal images for our customers in 34 countries. Visit www.ibml.com for more information.
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organisations. Whether originating from electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organisation. TIS's eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators and value added resellers, as well as strategic partners. For more information on TIS, visit the company's website at: www.TopImageSystems.com.
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"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995:
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, particularly statements regarding future operating or financial performance. Words such as "will," "expects," "anticipates," "estimates," "intends," "believes," "plans" 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 plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, quarterly fluctuations in sales of products in the Data Capture market (where in general the fourth quarter is the strongest and the first quarter is the weakest), TIS's ability to successfully integrate businesses it acquires, litigation (including litigation over intellectual property rights), 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.