TEL AVIV, Israel, Jan. 11, 2016 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, announced today that the Company has closed a $100K multichannel invoicing contract with one of the largest B2B e-commerce providers in Israel that processes millions of transactions daily worth billions of dollars. With eFLOW® this e-commerce vendor will be able to offer its customers a full solution to handle not only e-invoices but also to digitize all their invoices automatically. Another service they are purchasing from TIS will improve EDI compliance with government regulations by analyzing and validating that mandatory supplier invoice image data is identical to EDI file content.
No matter how advanced and efficient it is for companies to use a digital supplier portal to manage invoices, excessive time, effort and resources are still expended to manage and process the invoices that nevertheless arrive outside the supplier portal. Therefore, this e-commerce company sought to offer its customers a full solution for all their invoices.
The customer needed a solution robust and scalable enough to handle its enormous volume of transactions, integrate seamlessly with numerous other in-house systems and able to run smoothly in a multi-client environment. After a thorough evaluation, eFLOW was selected for its high accuracy, unique EDI connectivity and extraction capabilities and ability to accurately process multiple languages, as well as willingness to meet challenging project deadlines. Going forward, the two companies are considering an expanded partnership to offer joint offerings to the invoicing market.
“TIS is very pleased to create this upsell opportunity for our customer to generate added revenues from its existing clients by offering them multichannel invoice digitization, an additional functionality that will give these customers competitive advantage,” commented Barry Richards, Managing Director, EMEA, Top Image Systems. “We expect our customer to improve relationships with its customers, increase revenues and grow market share. Our unique EDI verification service will further contribute to improved customer satisfaction. As we continue to invest in AP Automation knowhow and technologies, we expect to continue to grow our presence in this important market sector.”
About Top Image Systems
Top Image Systems (TIS) 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 the content to applications that drive the organization. TIS's eFLOW® Platform is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers as well as strategic partners. Visit the company's website http://www.topimagesystems.com for more information.