Top Image Systems Wins Contract With a Leading Global BPO in Chile

/ Source: GlobeNewswire

TEL AVIV, Israel, Sept. 13, 2010 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA) (TASE:TISA), the leading ECM (Enterprise Content Management) innovator of intelligent document recognition, announced today that its eFLOW platform has been chosen by a leading global BPO (Business Process Outsourcing) provider. The project is valued at over $900,000.

The Chilean BPO required a renewal to their existing IDR (Intelligent Document Recognition) system which would be capable of processing massive document quantities, whilst maintaining the highest level of accuracy. A number of vendors were invited to demonstrate their products, and after an in-depth evaluation process Top Image Systems' (TIS) eFLOW was shown as the strongest solution.

The BPO covers several areas of data capture, from check processing to invoices, as well as classification projects and exams with extensive OMR (Optical Mark Recognition) requirements. Document quantities are very large and the chosen system would need to be capable of processing large quantities of documents, for example for check processing the volumes can reach 18 million per month with peaks of 150,000 documents per hour. In addition, the chosen system needed to be able to integrate with several existing applications.

Top Image Systems demonstrated their leading edge platform - eFLOW4.5, and showed it provided the best balance of accuracy, ability to handle large document volumes and document types, with impressive performance and best cost of system.

Dr. Ido Schechter, TIS CEO, commented, "The long-term relationship we have with this global BPO demonstrates the strength of our customer service and the leadership of our technology in the marketplace. eFLOW4.5 was chosen as the system that could manage the huge document quantities and peaks, and easily integrate with the internal systems already in use, without compromising processing accuracy or speed."  

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.

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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.

CONTACT: Top Image Systems Ltd. Dana Rubin, Director of Corporate Marketing and Investor Relations +972 3 767 9114