Total Volume of Receivables Transactions Processed by Top Image Systems eFLOW® Remit Surpasses 50 Billion
September 26 2017 - 8:00AM
Top Image Systems Ltd. (NASDAQ:TISA)
, a global
provider of solutions that facilitate digital business, today
announced that the total volume of remittance documents processed
by its eFLOW Remit receivables platform has surpassed 50 billion.
eFLOW Remit is used by four of the top five U.S. banks and three
of the largest third-party lockbox providers in the United
States to process receivables data and images on behalf of more
than 10,000 corporations, government entities and non-profit
organizations, and 30,000 end users.
Managing more than $360 billion worth of receivables
transactions each year in a highly scalable, secure and
cost-effective environment, eFLOW Remit delivers fast, reliable and
secure online access to data and images for consumer-to-business
and business-to-business receivables applications. eFLOW Remit
enables organizations to accelerate receivables posting, simplify
exceptions resolution, enhance customer service, and strengthen
compliance, control and reporting. Banks and third-party lockbox
providers benefit from lower operational costs, stronger client
relationships, new fee-generating revenue streams, and a better
position for the emerging digital commerce
environment.
eFLOW Remit stores data and images in redundant, geographically
distributed data centers with a Tier 4 rating. The centers have a
fault-tolerant infrastructure, redundant communications, and 99.995
percent availability as well as compliance with various regulatory,
advisory, and private entities, including PCI, BSA, FFIEC and
HIPAA.
“Receivables are the lifeblood of any business. But antiquated
approaches to managing receivables data and images do not provide
the ready access to all the information that decision-makers need
to efficiently and cost-effectively post, control, and analyze
cash. eFLOW Remit uniquely addresses these challenges by moving the
management of receivables data and images to a secure cloud,”
commented Top Image Systems CEO Brendan Reidy. “The
cost-effectiveness, scalability and security of eFLOW Remit have
made the platform the most trusted solution of its kind among the
largest U.S. banks and providers of third-party lockbox services,
and continue to drive the platform’s volume growth.”
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 https://www.topimagesystems.com/ for
more information.
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
Camille.womack@topimagesystems.com (214) 256-4600 TIS
Investors Contact: James Carbonara, Regional Vice
President, Hayden IR james@haydenir.com + 1 646 755 7412
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