KOLN, Germany, Dec. 5, 2007 (PRIME NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA), (TASE:TISA), the leading innovator of data capture solutions, announced today that SUZUKI International Europe GmbH has chosen TIS's eFLOW Invoice Reader and eFLOW Ability to streamline its entire invoice process.
Aiming to standardize and enhance the efficiency of its invoice circulation, review and approval, SUZUKI conducted a detailed technological evaluation of data capturing and invoice approval workflow solutions. The evaluation process ended October 2007 with the appointment of TIS's eFLOW Invoice Reader and eFLOW Ability.
The SUZUKI International Europe GmbH is a supplier of automobiles, motorcycles and outboard engines. It is a subsidiary of the Japanese SUZUKI Motor Corporation, the world leader in the Minicar segment. In 2006, SUZUKI sold a total of 32,238 automobiles on the German market. This number should increase to 35,000 in 2007. Based on these remarkable results, SUZUKI is ranked among the fastest growing automobile brands on the German market. By 2010, SUZUKI plans to sell 50,000 units with attractive new products.
This success also means a high volume of incoming invoices that reach SUZUKI's office on an annual basis. All of the invoice information must be analyzed against and transferred into SAP R/3 for processing before the invoices are paid, a task which ties up an unwarranted amount of SUZUKI's skilled employees.
Addressing SUZUKI's need for a complete invoice processing solution, TIS's eFLOW Invoice Reader and eFLOW Ability automatically capture and extract the relevant invoice information and transfer it into the SAP system. According to pre-logged rules, invoices are automatically forwarded to the appropriate employee for approval.
Thomas Riech, General Finance Manager of Suzuki International Europe GmbH, commented: "By using eFLOW, SUZUKI seeks to further optimize the invoice processing, and fully leverage the value of the back-office systems that already exists in our organization. We are highly impressed with eFLOW's remarkable functional range, with its tight SAP integration as well as with the transparency of all processes."
The project completion is planned within the first quarter of 2008.
About Suzuki
The SUZUKI Motor Corporation, based in Japanese Hamamatsu, is the international leading supplier in the Minicar-segment and twelfth biggest automobile producer. Since 1999 the company, which is structured in the automobile, motorcycle, and marine divisions, listed continuous production, sales, and revenue records. 45,510 employees are working for the group, which distributes its products in 192 countries. In business year 2006/2007, revenues were 19.4 Mrd. Euro (3,163 Mrd. Yen) and were 15.2 percent higher than in the previous year. Worldwide sales included 2.22 Mio cars and 3.06 motorcycles. SUZUKI operates 35 automobile production facilities in 23 countries.
With its "Way of Life!" slogan, SUZUKI stands for brand attributes like enthusiasm, down-to-earth behaviour, valence, sportsmanship, and team spirit.
The SUZUKI International Europe GmbH manages its German activities of the three divisions from Hessian Bensheim. With 320 employees, the company achieved revenues of 694 Mio Euro in 2006. Suzuki ranks in Germany, the toughest automobile market of the world, among the fastest growing automobile suppliers. 32,238 vehicles were registered in 2006 -- an increase of 12 percent to the previous year. In 2010, there shall be 50,000 automobiles.
About Top Image Systems
Top Image Systems 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 the content to applications that drive the organization. TIS' eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 30 countries through a multi-tier network of distributors, system integrators, value added resellers as well as strategic partners. Visit the company's website www.TopImageSystems.com for more information.
The Top Image Systems logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4212
"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.