TEL AVIV, Israel, Nov. 14, 2007 (PRIME NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA), a leading innovator of intelligent document recognition, announced today that its eFLOW has been selected to process and analyze information from examinations services for APAC-based Examination Authority. TIS cooperates with Kodak Business Process Services (Kodak BPS) on this project.
The Authority provides different levels of tests and exams to the local industry as well as examinations on behalf of local and overseas examining bodies which include professional bodies, examination boards, colleges and universities. In order to ensure the highest level of services, they searched for a flexible and robust automated solution that can efficiently and accurately process more than 10,000 multi-page exams of various types they handle on a daily basis.
Kodak BPS was selected as the prime contractor of the project. After a rigorous technical evaluation and pilot that included local as well international technology suppliers, TIS's eFLOW platform was selected as the technology that will automate the capture and analysis of the information. Within less than a year since it was installed, eFLOW reduced the length of processing cycle from three weeks to only a few days.
"We are pleased that the tight cooperation between Kodak BPS and TIS created a robust solution that fully met the customer's expectations. This cooperation results in another satisfied customer that joins our growing customer list in the Pacific Rim," said Gideon Shmuel, TIS's Vice President of Sales and Marketing. "In previous projects we conducted in the UK and India, we have acquired in-depth understanding of customers' needs in the exams segment. eFLOW's ability to be quickly adjusted to customers' complex needs and to efficiently and accurately process substantial volumes of great diversity of incoming documents, perfectly answered their needs."
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organizations. Whether originating from electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS's eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 30 countries through a multi-tier network of distributors, system integrators and value added resellers, as well as strategic partners. For more information on TIS, visit the company's web site at: www.TopImageSystems.com.
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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, particularly statements regarding future operating or financial performance. Words such as "will," "expects," "anticipates," "estimates," "intends," "believes," "plans" 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 plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, quarterly fluctuations in sales of products in the Data Capture market (where in general the fourth quarter is the strongest and the first quarter is the weakest), TIS's ability to successfully integrate businesses it acquires, litigation (including litigation over intellectual property rights), 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.