TEL AVIV, Israel, June 29, 2011 (GLOBE NEWSWIRE) — Top Image Systems™ (TIS™), Ltd. (Nasdaq:TISA) (TASE:TISA), the leading ECM (Enterprise Content Management) solutions provider, announced today that it has been selected to provide a digital mailroom solution for a leading German insurance company. The company, part of a global integrated financial services firm, will utilize TIS’s eFLOW Platform.
Using the eFLOW Platform, a comprehensive solution that captures, classifies, validates and automatically processes business-critical documents, the insurance company will benefit from significantly reduced costs and fewer processing errors while improving communications with both customers and business partners, thereby furthering the Company’s competitive advantage.
TIS’s eFLOW was chosen following an arduous selection process. The new solution will first be implemented in mailroom processing centers in Germany and will gradually be rolled-out in other departments at the company.
Commenting on the new client win, Michael Schrader, TIS Managing Director for the EMEA region, said, “Following our recent successes in the financial sector, we are excited to be working with another major client. This contract which will generate significant revenues over the next three years, further validates that eFLOW is an outstanding technological tool which is especially suited to markets with very high security requirements with regard to the automated processing of data.”
He continued, “While implementing the solution, we will support the insurance company by developing a series of new product features that will integrate all incoming data including letter and faxes with email being the main focus. This project further strengthens our eFLOW Platform as the leading solution for companies seeking to collectively enhance their content management for paper-based and digital communications.”
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://ping.fm/I8jMc for more information.
The Top Image Systems logo is available at http://ping.fm/TJ82T
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.
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CONTACT: Dana Rubin
Director of Corporate Marketing and Investor Relations
dana.rubin@topimagesystems.com
+972 3 767 9114
http://bit.ly/ioo9MY
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