TEL AVIV, Israel, Oct. 28, 2008 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (TIS) (Nasdaq:TISA) (TASE:TISA), the leading innovator of intelligent document recognition, today announced that its eFLOW solution was selected by three major customers in the UK to automate incoming information processing.
The three customers include multinational design and engineering consultancy Atkins; a global manufacturer of petrochemicals, specialty chemicals and oil products INEOS; and a British governmental agency.
Atkins is the largest engineering consultancy in the UK, the largest multi-disciplinary consultancy in Europe and the world's eighth largest international design firm. In a highly competitive selection process to find an automated solution for invoice and expense processing at the company's shared service centre in Worcester, England, Atkins evaluated proposals from 11 different vendors, and made site visits to the top six. With its superior solutions and world-class localised support, TIS emerged as the clear choice. Highly flexible and scalable, TIS's eFLOW Invoice Reader now accurately processes 200,000 invoices and 85,000 expense documents each year, and integrates effectively with Atkins' JD Edwards ERP. Through this project, Atkins achieved substantial ongoing cost savings.
INEOS was also looking for a solution that would enable the automatic capturing of complex invoices and business rules. As a global manufacturer with 70 manufacturing facilities in 14 countries throughout the world, the solution for INEOS has been installed in the UK but is to process invoices in multiple languages from around the world. Once again, eFLOW Invoice Reader outshined the competition and was selected as the preferred solution.
The third project was awarded to TIS by a British governmental agency, after winning benchmark testing of the main other industry competitors. In this project TIS's solution will process 5 million documents in six months.
Dr. Ido Schechter, Chief Executive Officer of TIS commented, "With these three recent wins we illustrated our high standards for quality and service by edging out our competitors. Further, our vast suite of document capture solutions allowed the customers to solve several problems with one implementation. In all three projects, the installations of TIS's solutions have enabled a more accurate and efficient end to end processes, and decreased manual intervention. Our solutions increase the speed at which our customers have visibility of their information, and at the same time the high recognition rates achieved allow for a much more efficient process. Overall eFLOW has enabled transparency across the accounts payable as well as other processes."
About Top Image Systems
Top Image Systems (TIS) 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'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, 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.globenewswire.com/newsroom/prs/?pkgid=4212