TEL AVIV, Israel, Aug. 24, 2010 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA), the leading ECM (Enterprise Content Management) innovator of intelligent document recognition, announced today that a leading check outsourcing service bureau in Asia Pacific has selected TIS' eFLOW version 4.5 for check processing. The company is an established clearing and payment solutions and services provider for the banking and finance industry.
The company utilizes TIS' eFLOW Unified Content Platform™version 4.5 to automate the data extraction of Legal Amount Read (LAR) and Courtesy Amount Read (CAR) amounts, and deposit account number for its outward check clearing services, given to its bank customers. eFLOW is also used for additional value added services of inward check processing, such as technical verifications of CAR and LAR and potential fraudulent alterations through file matching.
TIS' eFLOW enables the check outsourcing service bureau to fully leverage its workflow. The use of eFLOW results in more efficient and cost effective processes, reduced labor costs, and improved customer service levels.
"We are glad to have this leading check outsourcing service bureau choose the latest version of our eFLOW platform," said Alex Toh, Director Manager, TIS Asia Pacific Pte. "This win further establishes our leadership in the banking market and once more validates eFLOW's technological superiority."
About Top Image Systems
Top Image Systems 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' eFLOW Unified Content 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 www.TopImageSystems.com for more information.
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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.