TEL AVIV, Israel, Oct. 11, 2011 (GLOBE NEWSWIRE) -- Top Image Systems™ (TIS™), Ltd. (Nasdaq:TISA), a leading ECM (Enterprise Content Management) solutions provider, announced today that it has been selected to provide its Digital Mailroom solution to a leading international healthcare company that offers insurance and healthcare services to thousands of clients in over 200 countries.
The TIS eFLOW™ Digital Mailroom will be deployed in the healthcare provider's claims processing unit in the UK, where it will capture, classify, validate and automatically route insurance claims and related business-critical documents for further processing within the company. The objective is to increase efficiency while reducing operational costs and to provide a scalable content management solution for future volume growth. Following a challenging selection process during which the customer tested TIS' technology against competitor products, the company decided to move ahead with eFLOW. The implementation is now underway and will enter live production towards the end of the year. Overall, the project is estimated at some $500,000.
"We are extremely pleased to have been chosen after a rigorous selection process against our major competitors," commented Barry Richards, Managing Director, TIS UK. "We look forward to enjoying a long and fruitful partnership together and are confident that our claims processing solution will exceed the customer's expectations. Our eFLOW Platform technology is the optimal ECM application for organizations across many sectors and particularly in the healthcare market, where achieving business objectives of maintaining excellent customer service, adhering to regulatory demands while reducing operational costs at the same time is critical."
About Top Image Systems
Top Image Systems™ (TIS™) 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 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. 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.