TEL AVIV, Israel and COLOGNE, Nov. 5, 2013 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq:TISA) a leading ECM (Enterprise Content Management), BPM (Business Process Management) and MIP (mobile image processing) solutions provider, has signed a six- figure deal to provide eFLOW® INVOICE to a well-known European automotive engineering firm. The company supplies engineering and consultation services to the world's top automotive manufacturers.
Top Image Systems' eFLOW INVOICE was chosen after the automotive company visited installations in Europe where they saw how eFLOW was completely integrated into the SAP infrastructure. They wanted their invoice processing system to be able to look up supplier ratings and to offer the possibility of data mining, capabilities that their previous invoice document process automation system didn't provide. The company appreciated that Top Image Systems would customize its prepackaged invoice solution to meet their specific requirements. Nevertheless, the implementation of eFLOW Invoice for SAP to control the extended invoice processing workflow, matching the data in the invoices to supplier information stored in the ERP database, was offered as a standard feature.
Egbert Fischer, Dipl. Ing., General Manager North EMEA for Top Image Systems, remarked, "TIS is very pleased by this significant win at a leading European enterprise, which reinforces the trend of stable growth we are experiencing in Northern Europe, following in a series of such contracts we have signed in the region this year. European enterprises are selecting eFLOW INVOICE not only for its strong and broad all-around functionality, but because, as in the case of this engineering firm, we are able to meet many SAP-related requirements that their previous system just couldn't provide. Our flexibility in being able to respond to the customer's specific needs and the strong relationship developed by our dedicated sales team helped us achieve this important win for TIS."
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.