TEL AVIV, Israel and COLOGNE, Germany and PLANO, Texas, June 9, 2015 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq: TISA ), a global innovator of intelligent content processing solutions, today announced that, effective Tuesday June 2nd, Bob Fresneda has assumed the position of President, TIS Americas. Fresneda joined TIS to accelerate fulfillment of the Company's goal to substantially expand its U.S. operations. Most recently serving as SVP, Region Americas & Asia Pacific for ReadSoft AB, which was acquired by Lexmark in 2014, Fresneda was responsible for growth of his region's revenues to over 30 million USD. Following the Lexmark acquisition, he took responsibility for Worldwide Channel Sales for Lexmark Enterprise Software. Fresneda brings to TIS his proven ability to build highly profitable North American sales, professional services and support teams, strengthen U.S. brand presence and most important – expand market share.
Fresneda's addition to the TIS global executive team at this juncture will aid TIS in exploiting the consolidation in current market conditions to further develop valuable global partnerships. In parallel, it will strengthen the Company's leadership and market share in the Accounts Payable / Accounts Receivable sector and its strategic focus on cloud and mobile content capture, automation and end-to-end process automation solutions.
Fresneda brings to TIS strong experience in managing profit & loss, mergers and acquisitions and in growing from infancy a US subsidiary for a global organization; during his tenure, the US subsidiary led all subsidiaries in total revenue and profits, number of personnel, revenue growth and profit growth.
"After spending many years as a senior executive in a large global organization focused on financial process automation which has now been acquired to be a part of a large hardware, services and software organization, I am looking forward to making a fresh start within the creative management team of an agile, dynamic and innovative technology provider such as TIS, " commented Bob Fresneda. "The process automation market, now merging mobile, cloud and on-premise technologies, is primed for growth. I believe that TIS has the expertise, strategic direction and high-performance platform that will drive the Company to a rapid increase in revenues and profits.
"TIS is extremely fortunate to be able to add Bob Fresneda's business leadership and solid management skills to our executive management team. We are confident that Bob will be an effective asset in strategically accelerating our growth in the U.S., a market Top Image Systems is committed to building up in order to make a dramatic contribution to our short and long-term global performance. We offer Bob a big welcome to the TIS family and look forward to his impact in 2015 and beyond," remarked Michael Schraeder, CEO, TIS.
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.
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 other wi se.
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
