TEL AVIV, Israel and COLOGNE, Germany, Sept. 9, 2013 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA), a leading ECM (Enterprise Content Management) and BPM (Business Process Management) and mobile image processing solutions provider, announced a six-figure eFLOW Digital Mailroom win at a Central Bank in Europe; the bank is fully owned by the federal government of its home country and plays an integral part in both the European System of Central Banks (ESCB) and the Eurosystem.
Following a short list including three competitors, the bank chose the eFLOW® mailroom automation solution to manage its current volume of some 300,000 documents per year. The prestigious financial institution selected eFLOW because of its high-performance, multiple-OCR/ICR-engine recognition platform and because of its open architecture and scalability. In future, the Bank has plans to expand its document process automation, aiming to employ eFLOW to process its financial statements as well as to implement the eFLOW INVOICE solution for automated AP processing.
"Top Image Systems is proud to continue to win the confidence of important institutions in the public sector, not only in Europe but worldwide," comments Egbert Fischer, Dipl. Ing. Managing Director, North EMEA. "The eFLOW platform was chosen by this influential financial institution, not only for its effective functionality and cutting-edge technology, but also because of the strong references in its home country and throughout Europe, organizations that rely on eFLOW for industry-leading software innovation, expert technical support and services and best practice banking process management."
Continued Mr. Fischer, "We trust that our relationship with this Central Bank will grow and bring more new opportunities to TIS in the banking sector, an industry in which eFLOW's best-in-class recognition rates and tailored business processes facilitate banks achieving high rates of straight-through-processing, reduced costs and rapid ROI."
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications. TIS' flagship eFLOW platform and diverse business process and mobile image processing solutions are marketed in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers and strategic partners. 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.