TEL AVIV, Israel and SINGAPORE, June 02, 2016 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, announced today that the Company has delivered an eFLOW project valued at some $100,000 for licenses and services to date to a BPO subsidiary of a national postal service group in the Asia-Pacific. Operating almost 25,000 post offices along with other logistics and regional sites and employing some 200,000, the postal service decided to move the outsourced processing of internal document operations to its BPO subsidiary for automated capture and processing by eFLOW®.
Upon receiving positive recommendations for eFLOW from the outsourcing agency that processed its internal documents in the past, this customer has initially chosen eFLOW to process some 20,000 structured health-check and stress-check documents per day and plans to expand the use of eFLOW in future. eFLOW’s automated data entry and accurate recognition of handwritten and print texts in the local language are expected to increase straight-through processing and substantially reduce processing costs. This project, together with other recent wins at global logistics suppliers, reinforces TIS’ strong position in the postal services and logistics sector, in which many leading companies such as the Austrian and Czech Posts and other logistics providers rely on eFLOW.
Alex Toh, Managing Director, Top Image Systems APAC–Japan, comments, “We welcome this customer to the growing TIS Asian-Pacific install base. Using eFLOW, this customer will benefit from reduced turnaround times, minimized processing costs and fewer errors in the extraction of relevant information and its delivery to integrated business systems. Combined with ease of use, high scalability and rapid, reliable performance of high volume processing, these are the reasons why eFLOW has become a recognized industry standard in markets as competitive as the postal and logistics 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.
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.
Company Contact: Shelli Zargary Director of Corporate Marketing and Investor Relations Top Image Systems firstname.lastname@example.org +972 3 767 9114 Investors: James Carbonara Regional Vice President, Hayden IR email@example.com + 1 646 755 7412
Source:Top Image Systems Ltd.