TEL AVIV, Israel and COLOGNE, Germany, Feb. 11, 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 announced today that Top Image Systems has won a Digital Mailroom project at a leading German insurance firm. With 800 employees and 9 branches across Germany, this long-standing insurance firm has selected eFLOW® Digital Mailroom to automate and accelerate its business-critical document processing.
eFLOW will process some 800,000 insurance policies and related forms and documents per year, classifying them in more than 100 different categories. The company is particularly interested in leveraging eFLOW's web-based validation module, which will enable faster and easier software implementation and maintenance. In the next stage, the project may expand to include an e-portal for integrated email management.
The customer chose eFLOW Digital Mailroom following a successful workshop in which Top Image Systems demonstrated a high-quality proof of concept that met the customers' requirements. The company was looking for an effective system that would significantly reduce policy processing cycle time, costs and processing errors. At the same time, the company seeks to improve communications with business partners and responsiveness to customers.
"We are pleased to see further traction in the insurance sector for our popular eFLOW Digital Mailroom solution," remarked Egbert Fischer, Top Image Systems' General Manager Central Europe. "As document-centric businesses seek competitive advantages, they look for technologically innovative systems that can accelerate business processes and improve their responsiveness to their customers, and here is where Top Image Systems can best help them. We are confident that eFLOW Digital Mailroom will continue to grow its market share in Europe, both in the insurance industry as well as in other markets in which optimized document-centric business process automation is critical for operational excellence."
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
