TEL AVIV, Israel and COLOGNE, Germany, Dec. 12, 2016 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of intelligent content processing solutions, announced today that a mid-sized German consumer goods manufacturer has signed an agreement with Top Image Systems with a total contract value of over $120,000 for software and services to deploy an end-to-end AP Automation solution to capture and process all their incoming invoices.
A private enterprise in business for over 100 years and serving over one million customers including via e-commerce, this manufacturer processes some 50,000 supplier invoices per annum. Following a long evaluation period, the manufacturer decided on TIS’ SAP-certified accounts payable automation solution. The eFLOW® AP solution enables end-to-end processing from invoice capture through approval workflows and posting, all handled inside the familiar SAP environment. The solution will capture and extract all incoming paper and email invoices.
One key reason the customer selected eFLOW AP for SAP is the fact that the standard packaged AP automation offering meets their requirements without any need for special configurations or customizations.
“Top Image Systems is encouraged by incoming orders for our end-to-end AP Automation for SAP solution in Europe and around the world,” remarked Brendan Reidy, CEO, Top Image Systems. “As market awareness grows for the exceptional value of our full functionality Accounts Payable solution, which is certified on SAP ERP on HANA deployment, and can streamline processing of even the most complex invoices and workflows, we are confident that we will see increasing market share across regions and verticals.”
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a global innovator of on-premise and cloud-based applications that optimize content-driven business processes such as procure to pay operations, remittance processing, integrated receivables, customer response management and more. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications, transforming information entering an organization into useful and accessible electronic data, delivering it directly and efficiently to the relevant business system or person for action with as little manual handling as possible. TIS’ 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.