Mid-sized European Medical Device Manufacturer Selects Accounts Payable Automation from Top Image Systems
June 30 2016 - 9:00AM
Top Image Systems Ltd. (NASDAQ:TISA) a global
innovator of intelligent content processing solutions, announced
today that the Company has signed an agreement to deploy eFLOW® AP
at a mid-sized European medical device company. Operating ten
subsidiaries worldwide, this manufacturer has an established
reputation for delivering high quality titanium implant systems for
the surgical management of fractures. The deal is estimated to
reach a total contract value of some $125,000 in 2016.
Receiving some 30,000 purchase orders and 30,000 invoices
annually from widely dispersed suppliers, partners and customers
worldwide, this customer decided to automate its invoice and
purchase order processing to increase accuracy and efficiency and
to accelerate its procurement and sales order processing
cycles. Recommendations from a trusted local system
integrator and favorable customer references together with Top
Image Systems’ solid reputation for superior document recognition
quality and precision led to the selection of eFLOW AP®.
“We are encouraged by the momentum we are starting to build for
our accounts payable solution, especially with mid-market
companies,” commented Michael Schrader, CEO Top Image Systems. “Our
strong reputation for high quality invoice recognition and
extraction, coupled with the recent release of our end-to-end
Accounts Payable automation solution, is positioning us for
growth.”
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of
enterprise solutions for capturing and validating structured and
unstructured content entering organizations from various sources
and managing content-driven business processes. Whether originating
from mobile, electronic, paper or other sources, TIS solutions
automatically capture, process and deliver content across
enterprise applications. TIS’ flagship eFLOW platform and diverse
business process and mobile image processing 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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