NEW YORK and TEL AVIV, Israel, June 5, 2013 (GLOBE NEWSWIRE) -- Top Image Systems (TIS), Ltd. (Nasdaq:TISA) a leading ECM (Enterprise Content Management) intelligent content capture, workflow and delivery and mobile payments solutions provider, announced today the June 6 th release of eFLOW5®, the next-generation version of its flagship software platform deployed in more than 800 enterprises worldwide. With its cloud and web enablement, fully integrated mobile capture and workflow capabilities, eFLOW5 reinforces TIS' position as a technology leader in its market. To fortify its strategy and presence in the US market, TIS decided to officially launch eFLOW5 at an event in New York City that the Company is hosting tomorrow, June 6th. Numerous professionals in the financial, Business Process Outsourcing and manufacturing sectors, along with several partners and investors, will hear guest keynote speaker Alan Weintraub , Principal Analyst from Forrester Research, Inc. and speakers from industry leaders Amazon, K2 and TransCentra as well as a full lineup of presentations about new TIS solutions. The agenda includes a first look at a new and innovative cloud-based collaboration between Top Image Systems and Amazon to outsource cost-intensive elements of capture operations via crowdsourcing, another example of how TIS offers thought leadership to the capture market. According to Omri Gelb, GM North America and EVP, "We are launching eFLOW5 in New York on the heels of a successful installation of our solution at one of the largest U.S. banks, a case study of which is being presented at the launch event. This signifies our commitment to the U.S. market, where we are certain that our fresh vision and new technologies will drive us quickly to a leadership position." TIS designed eFLOW5 to respond to the latest demands from the enterprise capture and workflow market. As the solution is cloud and web-enabled, incorporating fully integrated HTML5-based web scanning, web validation and fully integrated mobile capture, eFLOW5 offers maximum accessibility to input data at the point of origin for any user, anywhere, thus empowering the mobile workforce. Improved architecture and state-of-the-art Microsoft -inside technology make the solution extremely scalable and easier than ever to setup, install and use.
In addition to maintaining the TIS standard of industry-leading recognition rates to facilitate highest straight-through-processing capacity for its customers, the latest version of eFLOW also brings new elements. An important focus has been the integration of capture and workflow, both in the area of a powerful recognition workflow within the application as well as the incorporation of broad workflow capabilities to drive complete end-to-end document-centric capture-enabled process management solutions. The first such solutions ready to ship are eFLOW5 INVOICE and eFLOW5 Digital Mailroom.Another important innovation in eFLOW5 is in the area of Service Level Agreement (SLA) supervision, where eFLOW5's powerful monitoring and control tools include the unique "Supervise" module that helps enterprises improve operational performance by better orchestrating their collection activities across personnel, sites and equipment, and in real-time. eFLOW5 licenses and services can be purchased through authorized TIS sales representatives, agents and partners; full pricing information will be made available on request. In "The Forrester Wave™: Multichannel Capture, Q3 2012" by Alan Weintraub and Craig Le Clair, in which Forrester Research evaluated TIS and ranked eFLOW as a leader, they noted that "leaders show strong process directions," "mobility and cloud-based applications will change business processes radically over the next five years," and that "eFLOW provides the ability to automate processes that are triggered by capturing documents via mobile devices using software that resides on the mobile handset itself." In his keynote address at the eFLOW5 launch event, Mr. Weintraub will review the latest trends in the multichannel capture market, emphasizing the growing importance of mobile capture and process automation, two key elements of the eFLOW5 solution. "We believe that eFLOW5 takes the market to new dimensions of process accessibility, operational efficiency and continuous performance improvement," said Michael Schrader, CTO and VP Global Solutions for Top Image Systems. "Our mission is to enable our customers - be they banks, manufacturing companies, utilities, government agencies or Business Process Outsourcers - to overachieve on their objectives; and with eFLOW5, they can do just that. We have listened closely to what our customers and partners have been asking for to satisfy their users and handle more business without more resources. eFLOW5 will make them even more productive. Going forward, we will empower the eFLOW platform with capabilities to manage an ever wider range of business processes that will let our customers resolve more of their business issues." 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. 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.
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