Top Image Systems Gains Traction in Accounts Payable Automation
March 21 2017 - 9:13AM
Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of
intelligent content processing solutions, today announced that the
Company is gaining accelerated traction in the high-growth Accounts
Payable Automation market segment.
Building on its strong heritage in invoice capture, the company
released its next-generation Accounts Payable Automation solution
in Q2 2016. Certified for SAP HANA, the eFLOW AP solution
extends the company’s powerful data extraction and validation
technology with integrated workflow approval, streamlined exception
resolution, posting and payment.
The solution empowers AP processors with 360-degree visibility
into invoices and related data, all from within their familiar SAP
environment. Carsten Nelk, CTO, explained: “All tasks are executed
from one screen, and with the fewest clicks possible. Every aspect
of the user interface accelerates AP tasks, from the clean, modern
design to optimized UI to drag-and-drop functionality.” For those
outside AP who need to provide additional information or approve
invoices, eFLOW AP offers easy and self-explanatory access through
a web application, a mobile app, a SAP Fiori app or email
approval.
Since the launch of eFLOW AP for SAP, the Company has
successfully upgraded existing customers, such as a leading energy
supplier processing over 7 million invoices annually, and has
closed a number of new logo contracts, including with a leading
aerospace component manufacturer, a medical devices company and a
leading construction company.
“The positive feedback both from our existing customers who have
upgraded to the new solution as well as from our early adopter
customers who successfully rolled out in 2016 provides a solid
foundation for us to capitalize on this market opportunity in 2017
and beyond,” commented Brendan Reidy, CEO.
The company is showcasing eFLOW AP for SAP in Booth #615 at
Financials2017, the leading conference focusing on SAP solutions
for finance, which begins today at The Mirage Hotel in Las
Vegas.
About Top Image Systems Top Image Systems™
(TIS™) Ltd. is a global innovator of on-premise and cloud-based
applications that optimize financial process automation, such as
procure to pay operations, accounts payable, invoice processing and
more. Top Image Systems, Ltd. (TIS) helps businesses compete in the
digital economy, where the customer journey begins, progresses and
ends in an entirely digital environment. In Finance, this means
transforming paper-based, manual processes to end-to-end automated
processes that work the way you do—on premise, in the cloud and via
mobile—inside of SAP. 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
shelli.zargary@topimagesystems.com
1 (214) 256-4600
TIS Investors:
James Carbonara
Regional Vice President, Hayden IR
james@haydenir.com
1 (646) 755 7412
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