U.S.-based Technology Company Selects Invoice Processing Solution from Top Image Systems

TEL AVIV, Israel and PLANO, Texas, April 13, 2016 (GLOBE NEWSWIRE) — Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of intelligent content processing solutions, announced today that the company has signed an agreement to deploy an accounts payable solution for a U.S.-based technology company. Developing hardware and software technologies for sign manufacturing, packaging and other products, this company processes approximately 100,000 invoices per year in its SAP ERP system through several global shared services centers.  

The company was challenged by its decentralized, distributed invoice management and multiple line item invoices and sought to optimize the process and achieve efficiencies of scale.  The new solution streamlines and automates error-prone manual keying as well as discrepancy handling of incoming invoices, eliminating errors and achieving greater visibility into accrued liabilities and invoice payment status.

“Top Image Systems has expanded its portfolio of accounts payable solutions in the US; with our strategic focus on Financial Process Automation and launch of an AP Automation solution suite on premise, hybrid and in the cloud targeting also the mid-market, we expect to see increased sales in this market sector in the U.S.,” commented Bob Fresneda, President, TIS Americas. “We have invested in extended AP Automation training for our sales, pre-sales and support staff in the region.  We are prepared to help this technology company and all our invoice processing customers across the U.S. to achieve improved straight through processing of invoices, reduced AP cycle times and gain clear visibility into cash flow.”

About Top Image Systems

Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications. TIS’ flagship eFLOW platform and diverse business process and mobile image processing 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 https://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
Top Image Systems
shelli.zargary@topimagesystems.com
+972 3 767 9114
Investors:
James Carbonara
Regional Vice President,
Hayden IR
james@haydenir.com
+ 1 646 755 7412