Top Image Systems Wins U.S. Government Deal With Total Contract Value of Over US$450,000
October 05 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 with a total contract value for the
Company of over US$450,000 for licenses and professional services
to deploy eFLOW® for a new project in the U.S. public sector.
In the framework of this project, eFLOW will classify and
extract data from over a hundred document types with volumes of up
to 40 million documents per annum.
“Over the past few years Top Image Systems has
invested resources and effort to expand our sales and operations in
the U.S., the region in the capture and workflow market which
analysts have estimated to have the largest growth opportunity,”
remarked Bob Fresneda, President, TIS Americas. “By offering
superior recognition technology for large-scale forms processing
projects together with launching our enhanced end-to-end eFLOW AP
financial process automation solution suite, we continue to focus
strongly on growing market share in the U.S.”
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.
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
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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