TEL AVIV, Israel and COLOGNE, Germany, Feb. 12, 2014 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq:TISA) a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider announced today that a leading European pharmaceutical company selected the eFLOW® platform for automation of its Purchase to Pay processes. Invoices, orders, contracts and proof of delivery notes from thousands of suppliers will be processed in eFLOW at two locations in Italy, while maintaining full integration with the company's existing SAP and Microsoft SharePoint systems.
The company selected Top Image Systems largely because of the flexibility of the eFLOW platform to process various kinds of semi and unstructured documents and for its integration to multiple business systems. Previously, any invoice that was received by the company via email had to be printed out before processing. If an invoice document referred to more than one purchase order, it would have to be run through the system multiple times. With eFLOW, invoice processing is streamlined with immediate data recognition and validation; the company's P2P processes are optimized, enabling a quick, safe and cost-effective document flow to and from their customers.
Yoss Perl, Director EMEA for Top Image Systems, remarked, "We are very proud to have been selected by one of Italy's leading biopharmaceutical companies. This customer had been processing a broad range of different types of orders, contracts and invoices manually, and they needed a platform to uniformly optimize and process every company document. In addition, they needed to ensure easy retrieval of all documents via the same system. The eFLOW® platform gives them the opportunity to do all of this and more. We are confident that this important win will promote Top Image Systems across the Italian pharmaceutical market."
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.
Top Image Systems 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.