Top Image Systems Launches Cloud-Based Accounts Payable Solution for SAP
October 23 2017 - 8:30AM
Top Image Systems Ltd. (NASDAQ:TISA), a global provider of
solutions that facilitate digital business, today announced the
launch of its cloud-based eFLOW AP solution, integrated with SAP
Business One.
In delivering a cloud-based deployment of its proven on-premise
eFLOW AP for SAP, Top Image Systems can empower a broader range of
accounts payable professionals with end-to-end automated invoice
processing. For Business One organizations, the solution can
radically enhance processing efficiency, expand accounts payable
staff performance, reduce operational risks, and improve response
times and customer journey experiences.
eFLOW AP automates the capture, recognition and extraction of
invoice data in the cloud, and matches the incoming data against
SAP Business One master data. By automating the repetitive,
replicable and routine work of invoice processing, the solution
frees up accounts payable staff for higher value finance tasks and
analysis, and offers benefits such as:
- Maximum straight-through processing: Intuitive
business rules that automatically validate invoice data against SAP
Business One, auto-fill missing data and post invoices with no
outstanding business issues to Business One
- Continuous improvement: Machine-learning
algorithms mimic actions of accounts payable staff and, over time,
learn to do them better
- Improved financial performance: Elimination of
manual data entry, 24-hour processing run time and invoices paid on
time or even earlier to cash in on early payment
discounts
- Transparent accounts payable processes: Full
visibility into invoices and related data, and constant real-time
performance data for deep insights that help finance leaders make
better decisions and fine-tune internal processes
- Painless compliance: Easy-to-establish
approval hierarchies, rule-based decisions that don’t have to be
preprogrammed, workflow logs and a secure cloud archive for invoice
images
- Flexible exception handling: The most
user-friendly interface available to route approvals, prioritize
and assign duties, resolve discrepancies and automate supplier
communication
SAP Business One organizations access eFLOW AP through an
easy-to-use web browser, thereby avoiding additional infrastructure
investments. Quick implementation and flexible user onboarding mean
the solution offers immediate value, as does the data already
stored in the cloud; for example, when the same supplier serves
several businesses in the same network.
“The launch of our eFLOW cloud AP solution positions our company
for accelerated growth in the cloud applications software segment.
Integrating with SAP Business One further strengthens our footprint
in the SAP market segment. Our cloud solution supports a multi-tier
software strategy for SAP customers with SAP ECC deployed at the
enterprise level and SAP Business One utilized in subsidiaries,”
commented Brendan Reidy, CEO of Top Image Systems. “By offering
eFLOW AP in cloud and hybrid environments as well as on premise,
our SAP customers get end-to-end automated processes in the way
that works best for them, but with the security and assurance of a
certified integration with SAP.”
Top Image Systems is showcasing the new cloud solution to SAP
Business One channel partners, solution providers and end user
customers at the SAP Biz.ONE Conference, October 23-25. Top Image
Systems and SAP Business One have worked collaboratively to deliver
an integrated solution that is built upon and extends the
functionality of SAP Business One to meet the rapidly growing
demand for cloud-based accounts payable solutions.
“We look forward to building a mutually beneficial partnership
with Top Image Systems to meet the unique and changing needs of our
customers looking to invest in cloud solutions to cost-effectively
manage their IT investments as their business grows,” said Paul
Killingsworth, Head, SAP Business One North America Customer
Relations & Solution Experts. “When you choose to run the SAP
Business One application, you get the best of both worlds. You can
quickly and affordably integrate operations with those at corporate
offices for consistency and visibility while maintaining the
freedom you need to be agile and responsive to new market
opportunities.”
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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