Top Image Systems’ eFLOW® AP Gaining Traction in the Accounts Payable Automation Market in 2017
June 28 2017 - 8:01AM
Top Image Systems, Ltd. (NASDAQ:TISA), a global
innovator of intelligent content processing solutions, today
announced that the company is demonstrating continued momentum for
the eFLOW AP solution in 2017.
Examples of deals Top Image Systems has closed this year include
an agreement with a retail chain in North America through a
strategic partner, an expanded license with a leading data
management company in India, and transactions with a consumer goods
manufacturer, a medical device manufacturer, a leading utilities
provider in Germany, and a business process outsourcing partner in
the UK. These deals are an indication that the new eFLOW AP
solution is gaining traction, further strengthening the reputation
of TIS for delivering scalable accounts payable automation
solutions globally.
“The growing adoption of our eFLOW AP solution is based on
multiple things—an intuitive user experience, which enables finance
organizations to control the entire AP process from inside SAP
within a familiar environment, the elimination of data redundancy,
and the efficient leveraging of existing SAP infrastructure,
including new SAP functionalities such as FIORI,” said Carsten
Nelk, Chief Technology Officer of Top Image Systems.
“We are encouraged by the traction we are seeing with eFLOW AP,
particularly within mid-market companies,” commented Brendan Reidy,
CEO of Top Image Systems. “Our solution enables finance
organizations to gain real-time insight into key payment metrics
such as Days Payables Outstanding, as well as reduce processing
transaction costs while increasing return on invested capital by
extending early payment discounts to preferred suppliers. In
addition, our existing install base of eFLOW customers who are
currently deploying eFLOW to automate the capture of vendor
invoices represent upsell opportunities for us to upgrade them to
our eFLOW AP solution. Our customers are realizing tangible
ROI associated with our accounts payable automation
solutions.”1
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.
_______________________1 https://www.topimagesystems.com/resources/idc-buyer-case-study-bosch-streamlines-invoice-processing-tis/
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.
Contacts:
TIS Company Contact:
Camille Womack
Director of Corporate Marketing and Investor Relations
Camille.womack@topimagesystems.com
(214) 256-4600
TIS Investors Contact:
James Carbonara
Regional Vice President, Hayden IR
james@haydenir.com
+ 1 646 755 7412
Top Image Systems, Ltd. - Ordinary Shares (NASDAQ:TISA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Top Image Systems, Ltd. - Ordinary Shares (NASDAQ:TISA)
Historical Stock Chart
From Sep 2023 to Sep 2024