TEL AVIV, Israel and PLANO, Texas, Sept. 3, 2015 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ: TISA), a global innovator of intelligent content processing solutions, announced that the company has won a several hundred thousand dollars deal to process school exams as a key component of a multi-million dollar project being carried out by one of the Company's leading global BPO partners for a public body in Chile to evaluate the quality of the schools across the country's educational system.
Following several successful similar projects executed together over the last years, in the 2015 tender the customer selected TIS and its partner to exclusively execute all of its exam processing requirements. This decision differed from earlier tenders in previous years, when the customer divided the project between different vendors. This year TIS and its partner were the sole vendor chosen in the tender and will execute the entire project to process all the exams for the 4th, 6th and 8 through 12th grades.
In addition to the trust the customer has in choosing us after the many years of successful cooperation, TIS and its partner were selected in this RFP for technical superiority and competitive pricing. Thanks to the eFLOW Exams module developed by TIS in Latin America to respond to the specific requirements of education providers in the region, the customer is confident that TIS will be able to accurately and efficiently recognize the 50 – 70 million pages to be reviewed in the framework of the project. Once the exams begin in October, the processing of each grade must be completed within 20 - 30 days, completing the entire project within a three month framework.
"TIS is very proud that in recognition of the excellent work done over the last three years, this year TIS and its partner have been selected as the exclusive vendor for this large scale and time-sensitive project," commented Ricardo Campelo, General Manager, TIS Latin America. "Considering this tender together with the educational testing projects we deploy in Brazil, TIS is now the leading examination processing company in Latin America. By deploying solutions for these and other complex requirements, we continue to build our presence and market share in the region."
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 email@example.com +972 3 767 9114 TIS Investors Contact: James Carbonara Regional Vice President, Hayden IR firstname.lastname@example.org + 1 646 755 7412
Source:Top Image Systems Ltd.