TEL AVIV and SINGAPORE, Dec. 17, 2013 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq:TISA) a leading ECM (Enterprise Content Management), BPM (Business Process Management) and mobile image processing (MIP) solutions provider, announced today a win at a leading textile and apparel manufacturer based in the Asian-Pacific region. One of the world's leading producers of cotton shirts operating manufacturing facilities in China and across other locations in APAC, the manufacturer supplies garments to suppliers of leading fashion and apparel vendors around the world. The textiles manufacturer decided to deploy eFLOW INVOICE on eFLOW5, the latest version of TIS' flagship platform, in order to leverage its sophisticated eFLOW Accounts Payable Workflow on top of eFLOW INVOICE; together the two modules comprise the best end-to-end solution with industry-leading recognition and approval workflows, as well as eFLOW5's improved GUI and other enhanced functionalities.
The textile manufacturer processes some 60,000 invoices per annum across numerous global vendors, currencies and locations, each with its own specific tax procedures and regulations. Seeking to implement a sophisticated, automated AP approval workflow fully integrated with Oracle Applications, the customer's workflow required complex coding logic which TIS was able to accommodate thanks to its new embedded AP approval workflow module. The new system is expected to streamline the Accounts Payable process, virtually eliminating manual data entry, reducing average invoice throughput time and significantly increasing the efficiency of the invoice approval process.
"We are extremely enthusiastic about the successful deployment of eFLOW5 INVOICE at this leading apparel manufacturer," commented Alex Toh, Managing Director Top Image Systems APAC. "Top Image Systems has invested great efforts in a strategic program to expand the availability of our full solution portfolio worldwide, and this eFLOW INVOICE win in APAC is proof that the solutions we have successfully deployed in EMEA for many years also meet the demands of Asian-Pacific enterprises, a sector in which we expect to expand our market share significantly. We also expect this successful deployment of eFLOW5 with its highly flexible and configurable embedded Accounts Payable workflow to be followed by a wave of successful such implementations, not only among Oracle Applications customers but across users of any and every major ERP solution, both in the APAC region and around the globe."
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.
TIS Company Contact: Shelli Zargary Director of Corporate Marketing and Investor Relations +972 3 767 9114 TIS Investors: James Carbonara Regional Vice President, Hayden IR + 1 646 755 7412
