TEL AVIV and COLOGNE, GERMANY, Sept. 5, 2012 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA), a leading Enterprise Content Management (ECM) intelligent content capture and delivery solutions provider, announced today signing a contract with Fater SpA, a fifty-fifty joint venture between the Angelini Group and Procter & Gamble, the Italian manufacturer, distributor and supplier of Pampers® diapers, Lines® sanitary pads and panty liners, Tampax® tampons, Linidor® incontinence products and other consumer goods.
Fater selected eFLOW® to optimize the automation of its invoice processing operations for more than 66,000 invoices per year and to overcome challenges due to other solutions. The ability of eFLOW Invoice for SAP to ensure comprehensive integration with the SAP ERP system, using one workflow to streamline invoice handling, was an important factor in the selection process.
Interzen Consulting srl, a TIS Partner, contributed to successfully closing the deal by matching Fater's needs with TIS' solution capabilities.
"We are happy that Fater chose eFLOW to provide a reliable and accurate invoice management system, enabling them to optimize their invoice processing cycles and providing them with a system that can adapt to their future needs," comments Michael Schrader, Managing Director EMEA at TIS. "Top Image Systems is committed to expanding its activities in Italy by providing excellent products and services that help enterprises increase efficiency and reduce operational costs, helping them better compete in today's tough economic conditions."
About Fater
Fater SpA is the Italian market leader in personal absorbent products. Founded in Pescara in 1958 by the Angelini family, Fater is since 1992 a joint venture between the Angelini Group and Procter & Gamble. Blending a deep knowledge of the Italian market with the working methods of a multinational, Fater is a company that believes in 'innovation in sustainable growth in continuous dialogue with consumers.'
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 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.
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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.