TEL AVIV, Israel and PLANO, Texas, May 31, 2016 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of intelligent content processing solutions, announced today that an aerospace component manufacturer that operates locations in Europe and the Americas and produces essential components for satellites, spacecraft and aircraft programs has signed an agreement with Top Image Systems valued at over $100,000 for software and services to deploy an end-to-end AP Automation solution to process all their invoices in SAP.
The component manufacturer works with numerous suppliers within the space and aircraft industry and as such must comply with strict government and industry regulations and complex, dynamic tax and invoicing rules. They selected eFLOW® to integrate with two different SAP systems in use at the company, and will deploy eFLOW AP for SAP to automate their end-to-end SAP workflow.
This mid-sized manufacturer needed a high performance automated invoice processing solution that would automate their complex invoice approval workflows with innovative tools that reduce invoice cycle times, increase process and cash flow transparency across the entire end-to-end process and ultimately reduce costs.
This new customer expects the combined benefits of recognition accuracy that drives high ratios of straight-through processing and an enhanced workflow that will enable users to efficiently manage invoice processes entirely from within their SAP environment.
“Top Image Systems welcomes this new customer and reiterates here our deep commitment to providing this and all our AP Automation customers of all sizes with the best possible end-to-end AP Automation solutions on the market, a solution that fully integrates with their on premise SAP systems and which has the agility and flexibility to adapt to most any dynamic changes that may impact their IT environment,” remarked Michael Schrader, CEO, Top Image Systems. “The next generation SAP HANA-certified eFLOW AP Automation for SAP solution we have brought to market represents innovation at a higher order of magnitude and helps finance executives to meet the increasingly tough demands that businesses place on them today.”
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.