TEL AVIV, Israel, Sept. 3, 2013 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq: TISA ), a leading ECM (Enterprise Content Management) and BPM (Business Process Management) and mobile image processing solutions provider, announced a win with Mul-T-Lock ( www.mul-T-Lock.com ), an international manufacturer of locking systems for commercial, residential and automotive applications. TIS won the deal together with "Integrity Software," its distributor and local system integrator in the Israeli market. Mul-T-Lock is deploying TIS's eFLOW5 , the latest release of the company's flagship eFLOW ® platform, to implement a capture-enabled purchase to payment workflow solution that will process thousands of invoices each month. The installation of the solution scheduled for October this year is part of a company-wide plan to automate processes and improve efficiency.
eFLOW INVOICE will be deployed at Mul-T-Lock to optimize their business processes, in this case the automated tracking, payment and accounting of all company invoices. Starting from the powerful generic eFLOW INVOICE package, TIS and Integrity Software consultants adapted and configured the package to meet the company's specific requirements. In accordance with Mul-T-Lock's specifications, eFLOW INVOICE will scan incoming invoices, forward them to the workflow and approval process and then deliver the invoices for posting to the SAP ERP system. The solution will incorporate eFLOW INVOICE with its workflow module and eFLOW INVOICE for SAP, together enabling end-to-end fully automated invoice processing and seamless SAP connectivity.
Yoss Perl, Managing Director, EMEA South & East at Top Image Systems commented, "We were asked by Mul-T-Lock to pass a very detailed recognition benchmark. There were a number of other solutions considered, but Top Image won the business thanks to our high recognition rates and the ability of eFLOW to integrate smoothly with the company's SAP environment. We look forward to providing Mul-T-Lock a greater level of speed and accuracy when it comes to processing company invoices by leveraging eFLOW's document process automation and business process management (BPM) capabilities."
About Mul-T-Lock
Mul-T-Lock Ltd. is a worldwide leader in developing, manufacturing and marketing High Security products for institutional, commercial, industrial, residential and automotive applications. The company's product range includes mechanical cylinders, locks and padlocks, electromechanical locking systems and automatic assembly and key-cutting machines. The company is fully owned by ASSA ABLOY , the world's leading manufacturer and supplier of locking solutions.
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 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
