TEL AVIV, Israel, Oct. 12, 2010 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA), the leading ECM (Enterprise Content Management) innovator of intelligent document recognition, today announced that its eFLOW platform has been chosen by RheinEnergie AG in Germany for capturing and classifying incoming customer mail. RheinEnergie AG provides energy and water infrastructure for the Rhine region, servicing approximately 2.5 million people, industry, business and service enterprises.
TIS' digital mailroom solution was demonstrated in a proof of concept project and clearly beat the competition. RheinEnergie now plans to process up to 600,000 documents per year using the eFLOW solution. The RheinEnergie Group also includes the regional carrier NetCologne, where eFLOW has already been successfully deployed.
TIS works with several major suppliers in the energy industry, and earlier this year announced an invoice processing project in one of the largest power companies in Europe.
RheinEnergie AG is challenged every day by an abundance of incoming paper mail; and, with customer satisfaction being the company's top priority, the need for action to deal with the overwhelming volume mail was clear. The objective was to be able to respond faster to customer queries, which was made even more challenging given RheinEnergie's rapidly growing customer base. To ensure the highest level of customer service was maintained, as well as to provide more transparency in its transactions, RheinEnergie chose the eFLOW solution. eFLOW provides an immediate, significant increase in the efficiency of processing incoming customer mail. With a recognition rate of over 80%, TIS' eFLOW solution is proven to provide greater efficiency in mail processing.
Alexander Singer, project leader of RheinEnergie, explains, "With eFLOW, we can fully automate over 80% of our document processing. This means a significant ease of work and an enormous increase in our efficiency. We are happy that the project could be implemented within the given time frame and we are very satisfied with the results. The cooperation between TIS and the project team was excellent."
"RheinEnergie is at the cutting edge in the use of innovative techniques when the goal is greater customer satisfaction," explained Michael Schrader, EMEA Managing Director, TIS. "With its numerous affiliated companies, RheinEnergie is among our largest new customers this year. On the whole, TIS has seen an increased need for mailroom solutions, particularly for companies who want to continue to improve the speed and quality of communication with their customers."
About RheinEnergie AG
The RheinEnergie AG provides infrastructure services in the Rhine region and supplies energy and drinking water to about 2.5 million people, industry, and the retail and commercial sectors. The company started in 2002 with the former operative Cologne firms GEW Köln AG and RGW as a foundation and has an experience of more than 135 years. GEW Köln AG, which acts as a holding company today, transferred its operative business, all employees, and facilities to the newly founded RheinEnergie AG, in which it has an 80% interest and also holds shares at NetCologne. Other companies in the region are also associated with RheinEnergie. Further information is available at www.rheinenergie.com
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 for more information.
The Top Image Systems logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4212
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.
CONTACT: Top Image Systems Ltd. Dana Rubin, Director of Corporate Marketing and Investor Relations +972 3 767 9114 dana.rubin@topimagesystems.com