LONDON, July 22, 2015 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, announced today that its U.K. based subsidiary has signed a contract with Business International wll Group of companies, (BI) the Gulf/GCC company established in 1985 as an exclusive distributor for Xerox products in Bahrain. The two companies have signed a PartnerAlliance Agreement stating that from its side BI will exclusively and proactively resell eFLOW to their customers and prospects together with Xerox hardware and document management system while TIS will provide BI with comprehensive eFLOW training.
TIS is pleased to engage BI as its delivery partner for this important paper-intensive market, while BI from its side selected eFLOW over competitors for its flexibility and extensive functionality, using the software to differentiate themselves in a largely price-driven market.
The companies see numerous English language capture opportunities as well as a large Arabic language OCR market in the longer term, including numerous governmental agencies in the BI install base. BI is active in all the GCC countries, with primary activity in Bahrain. The partners are currently pursuing two opportunities and plan to initiate comarketing programs upon finishing their first joint project, expected before the year is out. In the first phase BI is focusing on AP Automation and Digital Mailroom, with plans to promote mobile capture in a second phase.
"We are confident that including eFLOW multichannel capture and workflow in our offering will raise our sales success rate and help us close more deals faster," remarked John Joseph, BI Group General Manager. "The GCC market shows high demand for innovative, reliable and scalable capture technology that can accurately capture incoming documents across multiple channels, reducing manual data entry costs, errors and the duration of document processing cycles."
"We appreciate the excellent business opportunity afforded to us by BI introducing us to the Gulf/GCC market. By cooperating with an experienced, well-known and reputable regional player, we are confident that together we can grow our joint market presence rapidly," remarked Barry Richards, General Manager, Top Image Systems EMEA.
About Business International wll
Business International wll Group of Companies was setup in 1985 as an exclusive distributor for all Xerox products, run on similar lines of any other Xerox operation across the globe, maintaining its high standards of Quality, Service and Customer Satisfaction.
Today after more than two decades in business we are honored and proud to have gained and retained the trust of the best companies, financial institutions, government and utilities that populate the corporate landscape of Bahrain. We have demonstrated and are acknowledged leaders in the quality of Service Delivery, Customer Satisfaction and benchmark business processes. We actively seek new ideas, quality check our processes, better our Customer Satisfaction levels with single minded purpose towards delivering world‐class quality to all our valued Customers in the Kingdom of Bahrain.
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.