TEL AVIV, Israel, May 21, 2013 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (TIS) (Nasdaq:TISA), a leading Enterprise Content Management (ECM) intelligent content capture, workflow and delivery and mobile payment solutions provider, announced today that OPSI (International Handling) Ltd, Authorized Service Contractor for UPS in Israel selected eFLOW® to automate the invoice and related transport documentation processing that is critical to their timely business performance.
Faced with the challenge of a narrow window of time between the receipt of the last daily batch of parcels and the deadline for international air freight departure, whereupon OPSI staff must ensure that all Export items have had all invoices, bills of lading, customs clearance forms and all other related transport documentation submitted and approved, the company considered several alternatives. Following a successful Proof of Concept, OPSI selected eFLOW from TIS, scheduled to go live in the second quarter of 2013.
Until now the company has manually processed some hundreds of thousands of pages of semi-structured forms per year, entering data into the company's internal global tracking system and into the separate Customs Authority system.
The eFLOW® solution offers significant added value; following deployment, productivity is expected to increase by 50%. Another benefit for OPSI managers will be greater transparency vis-à-vis document status, improving responsiveness and SLAs to OPSI customers.
Commented Top Image Systems CEO Dr. Ido Schechter: "The POC exercise at UPS clearly demonstrated eFLOW's industry-leading recognition rates and accuracy. Flexibility and scalability were also key to winning this project, as OPSI must be able to regularly integrate with and adapt to both the OPSI and Customs Authority systems, each of which poses different yet complex and dynamic requirements. Looking to the future, we expect to upgrade the system in Phase II by introducing to OPSI drivers remote document capture via mobile device, which will dramatically reduce processing cycle time."
Ayala Wexler, VP Operations / COO in Israel stated, "So far, we are very impressed by the solution designed for us by TIS, which exceeded our expectations. When the system is in place, we expect the time and resources required to collect data per parcel to be cut in half and the level of accuracy in our documentation to be improved significantly."
About O.P.S.I. (International Handling) Ltd.
O.P.S.I. (International Handling) Ltd, an Authorized Service Contractor for UPS, began operating in Israel in 1994, under the trademarks and work methods of the global company. Beginning July 2010, OPSI also handles UPS Freight - Air freight, Ocean freight and special deliveries. UPS is the world's largest package delivery company and a global leader in supply chain solutions, offering an extensive range of services for the movement of goods, information and funds. Founded in Seattle in 1907 as a local courier service, UPS today conducts business from its Atlanta headquarters in more than 220 destinations worldwide and transports more than 15 million packages a day – about 4 billion packages per annum. In 2011, UPS ended the year with a sales volume of over $53 billion.
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™ Platform 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 Europe and 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.