TEL AVIV, Israel and COLOGNE, Germany, Jan. 31, 2013 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA), a leading Enterprise Content Management (ECM) intelligent content capture and delivery solutions provider, announced today that a major European sugar manufacturer is implementing Top Image System's eFLOW® to automatically process all their incoming invoices. A private family enterprise with 2028 employees and turnover of some €990 million in 2008, the company operates and maintains holdings in sugar factories across Europe. The company is installing Top Image System's eFLOW Invoice Reader and eFLOW Invoice for SAP in order to automate their invoice process and approval workflow.
The solution captures invoices in every format, extracts relevant data automatically and delivers it into the manufacturer's SAP ERP system. eFLOW Invoice for SAP then controls the extended invoice processing workflow, including the matching of data in the invoices to supplier information stored in the SAP database. The project frees up employees' valuable time and speeds up the invoicing process, enabling the company to be eligible for early payment discounts and at the same time improve supplier satisfaction.
Remarked Michael Schraeder, Managing Director, TIS EMEA, "This leading manufacturer set objectives for the project to reduce the amount of manual work in their Accounts Payable department, accelerate the invoicing process and seamlessly integrate with their SAP system. After considering various solutions, the company decided on Top Image Systems because of eFLOW's deep SAP integration, our high-quality local service and our solid references in the Cologne region, and we believe that the solution will not only achieve but exceed their stated aims."About Top Image Systems Top Image Systems (TIS) is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS's eFLOW™ Platform is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers as well as strategic partners. Visit the company's website http://www.TopImageSystems.com for more information. The Top Image Systems logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4212 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 Europe and 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.
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