TEL AVIV and LONDON, April 17, 2013 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (Nasdaq:TISA), a leading Enterprise Content Management (ECM) intelligent content capture and delivery and mobile payments solutions provider, announced that a large outsourced services provider in the UK has chosen TIS as a preferred supplier of Digital Mailroom and invoice processing services for its clients. The contract is for a minimum of three years and minimum eFLOW revenue of approximately $500K. The company expects to use TIS's eFLOW® platform to capture up to 8 million documents per year.
The UK service provider runs over 50 client mailrooms, with a significant presence in the legal industry. Following its initial interest in the eFLOW Invoice Reader solution, the company saw demonstrations of eFLOW's flexible and scalable 3-tier architecture and decided to offer eFLOW Digital Mailroom services as well. The company began by implementing eFLOW internally in its Finance Department, automating its accounts payable operations, and then expanded the use of eFLOW to become a key platform for servicing customer contracts. Future plans include TIS providing archiving, hosted repository and workflow services as well.
Commented Barry Richards, Managing Director at Top Image Systems UK, "We competed for this contract against the top document capture and invoice processing companies in the world and were chosen for our superior offering and service. I would like to congratulate our UK team for the impressive demonstrations they made to the client and for building a strong relationship with them which sealed the deal in the end. Overall, excellent technology and the ability to use our in-house professional services with an inclusive pricing model helped win this contract for Top Image Systems."The agreement was concluded and system went live in Q4 2012; the contract stipulates quarterly billing in advance of each quarter, with options to increase volume and revenue on top.