TEL AVIV, Israel, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq:TISA) a leading ECM (Enterprise Content Management) and BPM (Business Process Management) and mobile image processing solutions provider, today announced that it signed a contract with a major Italian business process outsourcing (BPO) company who chose eFLOW® to automate the company's invoice and form processing, as well as to deploy eFLOW Digital Mailroom as their corporate standard.
The BPO is completely revamping their paper-based internal work structure, relying on eFLOW to capture and automatically process more than a million documents per year. This project will allow the company to reassign 50 employees that had been manually inputting invoices to other duties within the company. Aiming to grow their business, the BPO expects that using eFLOW they will eventually capture 50 to 60 million documents per year.
With over 400 employees, this BPO is the leading supplier of administrative personnel and enterprise professionals to the insurance and banking industries as well as to other large enterprises. The company needed to optimize its business documentation and to find the right technology platform to drive their in-house solution for document process automation. After a two-year search, they selected eFLOW over the accepted market leader; the company recognized eFLOW as being an innovator in capture and workflow technology and Top Image Systems as having a strong presence in Italy, making it the best choice for such a large project.
Yoss Perl, General Manager EMEA South and East for Top Image Systems remarked, "After the long sales process, the key point for this customer was not price, but the fact that Top Image Systems would partner with them and support their strategy to totally upgrade their internal document processing operations. We are helping them to undertake a new approach to capture and workflow, to redesign their entire system and to train staff in positions new to their IT department. The customer is confident that we will be with them every step of the way, and they plan also to introduce our solutions to their largest customers. This is not just a big win for Top Image Systems with one BPO company – it means that eFLOW will be processing documents for companies throughout Italy."
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 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.
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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Source:Top Image Systems Ltd.