TIS’ eFLOW technological platform replaces a cumbersome, paper-based manual process, which was running over several locations and departments and lead to inefficiencies and inconsistencies in policies and procedures.

TIS’ eFLOW automates the company's accounts payable process by automatically capture and recognize 180,000 supplier invoices per year, provide the approval procedures through the workflow, and deliver the data to its Oracle ERP finance system. Through this automated process, eFLOW utilizes the full potential of the investment the customer has already made in its Oracle ERP system.

“The processing center was established in the company's headquarter in just two months and shortly after they saw direct savings from the reduction in headcount within the accounts payable team, as well as indirect savings from the increased efficiency within the business in the use of on-line services.” said Dr. Ido Schechter, CEO of TIS.

About Top Image Systems

Top Image Systems is the leading innovator of enterprise solutions for intelligent document recognition, data extraction and validation of content entering organizations from various sources. Whether originating from electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization, such as ERP, CRM, IPS, PPC-systems and other operational application systems. TIS's eFLOW Unified Content 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 and direct sales. 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, particularly statements regarding future operating or financial performance such as statements regarding trends, demand for our products, expected deliveries, transaction, expected revenues, operating results, earnings and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. Words such as “will,” “expects,” “anticipates,” “estimates,” “intends,” “believes,” “plans” 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 plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, quarterly fluctuations in sales of products in the Data Capture market (where in general the fourth quarter is the strongest and the first quarter is the weakest), TIS’s ability to successfully integrate businesses it acquires, litigation (including litigation over intellectual property rights), 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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Contacts:
Company Contact
Dana Rubin
Director of Marketing and IR
dana.rubin@topimagesystems.com
+972 3 767 9114

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