SAN FRANCISCO, NEW YORK and TEL AVIV, Israel, May 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 Taulia Inc., the market-leading SaaS platform for supplier financing, eInvoicing and supplier portals, today announced a worldwide strategic partnership between the two companies. The partnership agreement outlines that TIS and Taulia will both resell each other's financial process improvement solutions worldwide to each company's respective installed base, as well as to new customers.
The first joint customer, Europe's largest international bottler, will achieve even higher efficiency and cost savings beyond the €1M+ already realized by deploying TIS' eFLOW® Invoice for SAP, by integrating Taulia's financial solutions to optimize working capital in its financial supply chain. This customer not only automates invoice processing within its SAP systems, but is now further enabled to improve supplier relationships and reduce supply chain costs through dynamic discounting.
Both TIS and Taulia are fully engaged to offer this joint program to organizations across the globe. The companies will go to market together with a joint cloud solution, offering automated supplier invoice processing solutions and dynamic discounting, as well as supplier self-services such as electronic invoicing and supplier information management. The joint solutions leverage fully automated data interchange with ERP systems like SAP, Workday, and Oracle E-Business Suite.
"Our new sales & technical partnership with Taulia provides both organizations a broader and more powerful portfolio of solutions that give enterprises around the world the ability to optimize financial processes and become more profitable through automating and maximizing supplier discounts," said Michael Schrader, COO of Top Image Systems. "This formal partnership serves as a proof point that TIS is actively executing on its strategic focus of enhancing cloud functionalities, increasing subscription sales and expanding strategic global alliances."
"We are delighted about the tremendous international opportunities this partnership presents in Asia-Pacific, Latin America, the U.S., and throughout Europe. Through our joint solution, enterprises can manage financial processes more efficiently while optimizing the financial supply chain," said Markus Ament, Chief Product Officer at Taulia. "Additionally, we're pleased to extend Taulia's Million Dollar Guarantee program, which ensures that organizations save at least one million dollars in the first year of implementation, to joint TIS customers."
About Taulia
Taulia is the fastest growing SaaS platform and network for Supplier Financing, eInvoicing and Supplier Portals. Organizations can reduce their total spend and achieve double-digit returns on cash positions, while proving opportunities for their suppliers to benefit from early payments, eInvoicing capabilities, and low-cost financing options. Some of the most innovative brands in the world rely on Taulia, including Coca-Cola Bottling Co. Consolidated, Pfizer, Pacific Gas & Electric, Hallmark, and many other Fortune 500 companies from various industries. Taulia is headquartered in San Francisco with offices in London, Düsseldorf, Germany, New York City and Park City, Utah. For more information, visit http://www.taulia.com .
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.
Taulia Company Press Contact: Cognito: Loretta Mock /Jessica Kleinman + 1 646-395-6300 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
