TEL AVIV, Israel and SYDNEY, Australia, Sept. 11, 2014 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA), a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider announces the launching of TIS Australia in response to the growing business and market demand for TIS' products and services in the region.
For over a decade Top Image Systems has partnered with a local Australian company ASI to sell and deploy its solutions in Australia. During this time the Company managed its business from the company's regional headquarters in Singapore while maintaining full-time TIS sales representatives and in the last two years also a General Manager, Mr. Matthias Holm, in Australia. To better support our existing customers and partners, to strengthen our local base and to expand our foothold in the region, Top Image Systems decided to form an Australian subsidiary jointly owned with our partner ASI.
Over the years many Australian businesses, including government agencies, financial institutions, Business Process Outsourcers and Shared Service Centers have chosen TIS' eFLOW as their preferred document capture platform. After working with TIS for some ten years via a pay-per-use subscription model, a leading global BPO active in Australia reached the decision to strengthen its relationship with TIS and signed a prepaid license agreement for its expanding volume of capture activities. This BPO will expand its eFLOW business to new areas thanks to the platform's robustness, scalability, flexibility, dependability, powerful automation and easy to use GUI tailored to the needs of a BPO. Going forward, this BPO is considering the new eFLOW5 SUPERVISE module which highly benefits BPOs by letting them easily monitor and measure different SLAs for different customers.
"We are very enthusiastic about the prospects of growing our business in the Australian market," commented Alex Toh, Managing Director, TIS APACJ. "We expect not only to expand our market share in the industry sectors in which we are present already, but also to gain presence in new markets with our growth products such as MobiCHECK, MobiPAY and eFLOW CrowdBridge for data validation in the crowd and new cloud-based solutions we plan to introduce in the future. In alignment with the implementation of our global strategy to make our broad solution set available in all regions, we expect TIS Australia to grow rapidly and diversify our business in the continent."
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications. TIS' flagship eFLOW platform and diverse business process and mobile image processing solutions are 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 http://www.TopImageSystems.com for more information.
Top Image Systems 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.
CONTACT: TIS Company Contact: Shelli Zargary Director of Corporate Marketing and Investor Relations firstname.lastname@example.org +972 3 767 9114 TIS Investors: James Carbonara Regional Vice President, Hayden IR email@example.com + 1 646 755 7412
Source:Top Image Systems Ltd.