TEL AVIV, Israel and COLOGNE, Germany, May 8, 2014 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq: TISA ), a leading ECM (Enterprise Content Management), BPM (Business Process Management) and MIP (mobile imaging platform) provider, announced that the company won a six-figure deal funded by the European Union to digitize citizen IDs for a public institution in Romania. Altogether 90 million paper identification images are to be captured and processed within a challenging six-month deadline.
In one central processing site, the IDs of varying age and quality are to be scanned, recognized, the data transferred to a document management system and the images archived. One key reason for selecting Top Image Systems to carry out the project is to successfully overcome the challenge of recognizing many old, hand-written documents in the short project timeframe stipulated. The project is expected to dramatically improve identification issues for the Romanian government , while reducing the significant time and financial resources that would be required to carry out the project with manual data entry.
According to Yoss Perl, Executive Director, EMEA of Top Image Systems, "We are pleased to have been chosen for this important and challenging project. The recognition and detection of the IDs, including many old and poor quality documents, is quite complex. Top Image Systems was chosen for this project because of our well-known reputation for high-volume forms processing and the high quality recognition performance of our eFLOW® platform. Our many years of experience carrying out high-volume census and other public projects gives us a clear advantage in the case of complex, high volume data capture and processing."
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
