PLANO, Texas and LAS VEGAS, March 21, 2017 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, today announced that the Company is gaining accelerated traction in the high-growth Accounts Payable Automation market segment.
Building on its strong heritage in invoice capture, the company released its next-generation Accounts Payable Automation solution in Q2 2016. Certified for SAP HANA, the eFLOW AP solution extends the company’s powerful data extraction and validation technology with integrated workflow approval, streamlined exception resolution, posting and payment.
The solution empowers AP processors with 360-degree visibility into invoices and related data, all from within their familiar SAP environment. Carsten Nelk, CTO, explained: “All tasks are executed from one screen, and with the fewest clicks possible. Every aspect of the user interface accelerates AP tasks, from the clean, modern design to optimized UI to drag-and-drop functionality.” For those outside AP who need to provide additional information or approve invoices, eFLOW AP offers easy and self-explanatory access through a web application, a mobile app, a SAP Fiori app or email approval.
Since the launch of eFLOW AP for SAP, the Company has successfully upgraded existing customers, such as a leading energy supplier processing over 7 million invoices annually, and has closed a number of new logo contracts, including with a leading aerospace component manufacturer, a medical devices company and a leading construction company.
“The positive feedback both from our existing customers who have upgraded to the new solution as well as from our early adopter customers who successfully rolled out in 2016 provides a solid foundation for us to capitalize on this market opportunity in 2017 and beyond,” commented Brendan Reidy, CEO.
The company is showcasing eFLOW AP for SAP in Booth #615 at Financials2017, the leading conference focusing on SAP solutions for finance, which begins today at The Mirage Hotel in Las Vegas.
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a global innovator of on-premise and cloud-based applications that optimize financial process automation, such as procure to pay operations, accounts payable, invoice processing and more. Top Image Systems, Ltd. (TIS) helps businesses compete in the digital economy, where the customer journey begins, progresses and ends in an entirely digital environment. In Finance, this means transforming paper-based, manual processes to end-to-end automated processes that work the way you do—on premise, in the cloud and via mobile—inside of SAP. Visit the company's website at http://www.TopImageSystems.com for more information.
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.