Top Image Systems Signs Two Accounts Payable Automation Deals Valued at Over $480,000
September 06 2016 - 8:00AM
Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of
intelligent content processing solutions, announced today that the
Company has concluded two significant deals for its recently
launched eFLOW AP for SAP end to end accounts payable automation
solution. These wins include a contract signed with a leading
energy supplier valued at over $420,000 for licenses and services
that will extend the use of eFLOW® AP for SAP globally, including
to North, Central and South America, and an upsell to another
existing customer in the European power sector valued at over
$60,000 for license and services.
“We continue to see accelerated demand for our Accounts Payable
automation for SAP solution launched in the first quarter of
this fiscal year,” remarked Michael Schrader, President, Top Image
Systems Ltd. “The solution provides our customers single point
visibility into and analysis of accounts payable processes from
their familiar SAP interface, along with automated invoice data
entry using our intelligent capture technology, checks and
validations of invoice data in SAP, automated workflows for
exceptions and approval, straight through processing of PO based
invoices and visual tools to monitor invoice status and workflow
tasks. The solution enables our customers to achieve improved cash
flow visibility and spend management that are critical to achieving
financial control over their businesses, not to mention reduced
invoice processing transaction costs.”
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a global
innovator of on premise and cloud-based applications that optimize
content-driven business processes such as procure to pay
operations, remittance processing, integrated receivables, customer
response management and more. Whether originating from mobile,
electronic, paper or other sources, TIS solutions automatically
capture, process and deliver content across enterprise
applications, transforming information entering an organization
into useful and accessible electronic data, delivering it directly
and efficiently to the relevant business system or person for
action with as little manual handling as possible. TIS’
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.
Company Contact:
Shelli Zargary
Director of Corporate Marketing and Investor Relations
Top Image Systems
shelli.zargary@topimagesystems.com
+972 3 767 9114
Investors:
James Carbonara
Regional Vice President,
Hayden IR
james@haydenir.com
+ 1 646 755 7412
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