TEL AVIV, Israel and PLANO, Texas, Aug. 17, 2015 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, announced that the company has signed a large multi-year, multi-million dollar SaaS contract with a top 5 U.S. bank. Based on a SaaS business model, the deal provides TIS both high visibility into revenues as well as a stable, consistent source of revenues against the bank's steady multi-year stream of transactions.
The bank decided to deploy TIS' cloud-based solution because of the solution's superior technology and functionality, as well as to benefit from cloud-based economics. Other key factors in the choice included TIS' state of the art security and capacity for compliance, as well as our many years' experience integrating with leading banking business processing applications, including the system which is implemented at this bank.
The solution is expected to enter production between now and the end of the year and will bring enhanced functionality, better performance and easier access, as well as improved system uptime.
"TIS Americas is proud to meet our publicly stated goal of closing a large SaaS deal with a leading U.S. bank in 2015. More importantly, this deal illustrates the growing demand coming from U.S. banks for highly secure, reliable, economical, auditable and compliant cloud-based document management solutions, which directly impact the quality of the service they provide to their customers," commented Bob Fresneda, President, TIS Americas. "By continuing to focus on innovative cloud and mobile solutions, we are confident that TIS will rapidly and steadily build our market share, both in the banking and financial market where we have rich experience and a substantial install base, as well as across other industry sectors."
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 Contact: James Carbonara Regional Vice President, Hayden IR email@example.com + 1 646 755 7412
Source:Top Image Systems Ltd.