TEL AVIV, Israel and COLOGNE, Germany, Jan. 13, 2014 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq: TISA ) a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solutions and MIP (Mobile Imaging Platform) provider, today announced winning a six-figure deal to deploy eFLOW® INVOICE at the largest private gas station operator in Austria. The sale is notable as a proof of the increased demand for deployment of eFLOW solutions with integration to small and midsize business ERP systems, in this case to Microsoft Dynamics NAV.
Top Image Systems succeeded to close this AP automation deal within a relatively short sales cycle, following an informational reference visit to an architectural firm currently using TIS software. The customer seeks to optimize the processing of the 75,000 invoices collected each year by the company and its various subsidiaries from many distributed points of capture throughout Austria.
Egbert Fischer, General Manager, Top Image Systems Central Europe, remarked, "This win is the latest in a continuing trend of eFLOW wins in the energy and utilities industry. Companies in this market often run complex accounts payable workflows, and therefore seek out ways to automate these processes for increased efficiency. Moreover, this deployment with its integration with Microsoft Dynamics NAV, is a welcome indication of the demand for deployment of eFLOW solutions with integration to small and midsize business ERP systems."
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
