TEL AVIV, Israel and COLOGNE, Germany, Oct. 6, 2011 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA) a leading provider of ECM (Enterprise Content Management) solutions, announced today that the Company has sealed a deal with BARMER GEK e.V., Germany's largest state health insurance provider. TIS prevailed over a number of competitors in an intense selection process. To be implemented over the next two years, the TIS eFLOW solution will serve as a platform for both automated mailroom and invoice processing across numerous company locations.
By implementing eFLOW, a comprehensive solution for capturing, classifying, validating and automatically processing business-critical documents, BARMER GEK will be able to further improve their customer service levels while at the same time significantly reducing costs and eliminating various sources for errors, thereby improving the company's overall competitiveness.
Michael Schrader, Managing Director, TIS EMEA, comments, "Winning the tender for this important project reinforces the leadership position and growing market share that TIS has achieved in the European insurance market. Like BARMER GEK, companies such as ARZ Emmendingen, BKK Essanelle, Generali and other leading insurance firms are greatly benefitting from eFLOW's ability to rapidly and reliably automate the processing of huge volumes of complex documents, which is a typical and basic requirement of the insurance industry. The selection process has shown that eFLOW is a technology that will surpass its competitors whenever reliability, speed, scalability, easy integration into existing infrastructures and high usability are key requirements."
About BARMER GEK e.V.
BARMER GEK e.V. provides health insurance services. The company was formerly known as Barmer Ersatzkasse e.V. and changed its name in January, 2010. BARMER GEK e.V. was founded in 1884 and is based in Berlin, Germany.
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. 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 content across enterprise applications. TIS' eFLOW Platform is a common platform for the company's solutions which is 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 www.globenewswire.com/newsroom/ctr%3Fd=227112%26l=10%26u=http%253A%252F%252Fwww.TopImageSystems.com" target="_top" rel="nofollow">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. 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.