TEL AVIV, Israel, Sept. 30, 2009 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA), the leading innovator of intelligent document recognition, announced today it was selected by the Swiss Post, PostLogistics to automate the address analysis of approximately 105 million packages a year in its three parcel centers in Daillens, Harkingen and Frauenfeld.
This recent accomplishment follows the TIS strategic decision to actively expand its presence in the postal service marketplace. Leading to this decision were projects TIS successfully conducted for organizations like DHL, the German Post and Williams Lea as well as postal services in Italy, Slovenia and the Czech Republic. For these customers, eFLOW is serving as an all-inclusive platform for various application and services.
The company estimates its revenues from postal services related projects in the coming year at more than $4 million.
The global postal service market has become a highly competitive one, and major players in this market are looking for ways to expand and improve their services beyond package and postal deliveries, payments and the like, while utilizing the strong customer base they have. They focus on improved trade routes as well as the ability to handle any information that arrives from variety of sources. Naturally, these kinds of services place great importance on timely services.
The Swiss Post, like many similar organizations, has decided to adopt eFLOW, this time for an additional department, PostLogistics. They are therefore able to expand its offering to customers. eFLOW will be deployed in three giant parcel centers, each the size of several football fields, Daillens, Harkingen and Frauenfeld, to optimize the extraction of address details.
"We are pleased that Swiss Post has again turned to TIS to help automate the parcel centers at their PostLogistics business areas. PostLogistics joins the PostFinance department that is already using eFLOW," Egbert Fischer, Sales Director of TIS, commented. "With eFLOW, Swiss Post are presented with a family of enterprise-wide solutions that can integrate with any backend system and scale according to their growing business needs.
eFLOW supports postal organizations in their aim to improve the level of customer service as well as business partners' satisfaction, and thus increase their competitiveness. It demonstrates an intuitive interface, flexibility and the highest levels of accuracy, enables transparency across the organization and provides users with accurate business-critical information."
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's 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 http://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, particularly statements regarding future operating or financial performance such as statements regarding trends, demand for our products, expected deliveries, transaction, expected revenues, operating results, earnings and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. 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.