TEL AVIV, Israel and COLOGNE, Germany, April 2, 2012 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA), a leading Enterprise Content Management (ECM) intelligent content capture and delivery solutions provider, announced today that the company has signed another successful contract with an international industrial company. SIEGENIA-AUBI, with a turnover of 400 million EUR and more than 3,400 employees, is one of the largest global manufacturers of building and ventilation technologies. After a thorough selection process, the company selected Top Image System's eFLOW® solution to automatically process all their incoming invoices.
eFLOW's flawless and comprehensive integration into the firm's existing SAP infrastructure was a key factor in SIEGENIA-AUBI's decision-making process. The eFLOW Invoice Reader will capture invoices, extract relevant data and deliver it into the ERP system. eFLOW Invoice for SAP will then control the extended invoice processing workflow, including the matching of data in the invoices to supplier information stored in the ERP database.
Automated invoice processing will bring multiple benefits to SIEGENIA-AUBI. The shortened turnaround times not only optimize liquidity planning and significantly save costs due to the reduced need for manual intervention, but they also facilitate improved relationships with the company's business partners and expand the utilization of early-payment discounts to reduce expenses.
"SIEGENIA-AUBI needed a sophisticated and completely reliable solution to support the business-critical invoice process carried out within their SAP infrastructure", explains Michael Schrader, Managing Director EMEA at TIS. "With eFLOW, SIEGENIA-AUBI benefit from a system that can automatically process extremely large volumes of highly complex documents. The result is a streamlined infrastructure that is easy to use and viable for the future, thus supporting SIEGENIA-AUBI's future growth for the long-term."
SIEGENIA-AUBI KG, with its headquarters in Wilnsdorf-Niederdielfen, Germany, is an international company with a focus on Europe and Asia and works in hardware, ventilation and building technology. The company's product portfolio comprises mechanical parts for modern windows, doors and sliding elements. The company as it is today was created as the result of a 2003 merger between the formerly independent companies of SIEGENIA-FRANK KG and AUBI Baubeschläge GmbH.
About Top Image Systems
Top Image Systems 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' 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. Visit the company's website www.topimagesystems.com for more information.
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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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