RIO DE JANEIRO, Brazil and TEL AVIV, Israel, Jan. 27, 2014 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq: TISA ), a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider and Xerox Brazil announced that the companies have signed a regional partnership agreement appointing Xerox Brazil as an official channel partner and reseller for TIS' mobile image processing applications and mobile imaging platform. The two companies announce that they have closed a significant deal with an international corporation for a mobile imaging application that will serve more than 3,000 sites across Brazil.
The partnership agreement authorizes Xerox Brazil to act as a certified Top Image Systems' system integrator partner; in this capacity Xerox Brazil will market, sell, deploy and support solutions integrating TIS' diverse and innovative mobile imaging applications with its powerful ECM portfolio; from its side TIS will provide product training to Xerox sales and support staff. To promote the business, the two companies will work together to organize joint marketing activities such as trade shows, road shows and customer seminars; on the technical side, they will share technology to ensure smooth product integration.
The partnership showed to be promising from the outset, whereupon the two companies joined forces early on to sign a large deal with the Brazilian arm of an international renowned organization. The project will supply the enterprise with an integrated content processing solution for automated management of customer contracts using mobile devices for content capture at some 3,000 stores distributed across Brazil.
Marcus Vinicius Lopes, Global Document Outsourcing, remarked, "We at Xerox Brazil are extremely enthusiastic about the enormous business potential of this partnership. There are endless opportunities across the Brazilian market to leverage mobile image processing to accelerate and increase the efficiency and accuracy of document-based processes. We are confident that the innovative TIS' mobile imaging technologies will bring great value to Xerox Brazil's existing customers, and that together Xerox Brazil and TIS will build a strong market presence in the region that will generate substantial new business."
"Top Image Systems is pleased to expand its positive and long-standing partnership with Xerox to market our mobile image processing solutions in Brazil," commented Michael Schrader, COO Top Image Systems. "In accordance with our 2014 growth strategy, we aim to make our solution portfolio available worldwide, and this agreement with Xerox Brazil will assist us to achieve these goals. In the last years TIS has forecast strong growth potential for enterprise software in Latin America, and has therefore invested efforts to create a presence in the region, and in particular in Brazil. We are especially confident in the value of our mobile platform; we are sure that our alliance with Xerox Brazil will be an important milestone in the trajectory toward achieving global recognition and market leadership."
About Xerox
Since the invention of Xerography 75 years ago, the people of Xerox (NYSE: XRX ) have helped businesses simplify the way work gets done. Today, we are the global leader in business process and document management, helping organizations of any size be more efficient so they can focus on their real business. Headquartered in Norwalk, Conn., more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations. Learn more at www.xerox.com .
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. 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 content across enterprise applications. TIS' eFLOW Platform is a common platform for the company's solutions which is 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.
TIS Company Press 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
