HAMBURG, Germany, TEL AVIV, Israel, NEW YORK and PLANO,Texas, March 10, 2015 (GLOBE NEWSWIRE) -- MAHLE Industries, Incorporated, a subsidiary of the MAHLE Group, one of the largest automotive suppliers worldwide with 66,000 employees and a turnover of around EUR 10 billion in 2014, has automated the processing of its remittance advices by deploying the Enhancement Package 'Integrated Advices' for Hanse Orga's FinanceSuite AutoBank Automatic Cash Application in conjunction with the content capture and processing solution eFLOW® from Top Image Systems.
The solutions have been installed in the U.S. and Mexican entities of MAHLE, where many remittance advices are received via e-mail. Previously, these payment advices had to be processed in an entirely manual manner to ensure that the open receivables could be reconciled. After implementing the new solutions, MAHLE has been able to realize automatic processes and has since profited from considerable time savings. The remittance advices can now be captured with eFLOW® which automatically extracts, classifies and verifies the information in the documents and delivers it directly to the FinanceSuite AutoBank Automatic Cash Application for further processing and automatic matching.
"This joint project with Hanse Orga and Top Image Systems has proved highly successful to us: while the previous remittance advice processing was dominated by tedious manual tasks, we are happy to have been able to automate these processes thanks to the new solutions. The time savings, we have experienced due to the project, have been so significant that our finance staff now has the time to focus on more value-adding tasks," says John Nielsen, MAHLE Industries Inc. Treasurer.
"It has been great to work with MAHLE and to support them in accelerating their overall accounts receivable processing by automating their remittance advice management. With our joint solutions companies worldwide can benefit from this pioneering approach: for the first time, it is possible to automate the processing of all types of advices no matter their format or size," say both Sven Lindemann, CEO Hanse Orga, and Michael Schrader, CEO Top Image Systems.
About Hanse Orga
Hanse Orga, founded in 1984, is an independent software and consulting firm for Financial Supply Chain Management processing within SAP®. Hanse Orga is a SAP® Software Solution & Technology Partner; all solutions and services are certified by SAP®. Hanse Orga's FinanceSuite delivers proven added value and functionality for cash application, reconciliation, liquidity planning, working capital management, payment factories, bank account management, cash management, and treasury processes. FinanceSuite solutions are programmed in ABAP, which allows them to be completely integrated into existing SAP® instances. With a dedicated focus on the end-user experience, FinanceSuite is developed and continuously improved by financial professionals for financial professionals. Hanse Orga's customer-centric approach has resulted in more than 500 satisfied clients worldwide. Further information: www.hanseorga.com
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. (Nasdaq:TISA) 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 content across enterprise applications. TIS' eFLOW Platform is a common platform for the company's solutions which is 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.
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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.