SOURCE: Top Image Systems Ltd.

October 31, 2005 07:00 ET

Top Image Systems Introduces eFLOW Ability, an Enhanced SAP-Integrated Business Workflow

The New Offering Employs SAP Environment and Architecture, and Is Based on OEM Integration With KPS, Germany

TEL AVIV, ISRAEL -- (MARKET WIRE) -- October 31, 2005 -- Top Image Systems, Ltd. (NASDAQ: TISA), a leading innovator of Data Capture solutions, introduced today the eFLOW Ability, a new integrated module into SAP systems for automated parking, approval and posting of invoices and any other document within SAP systems.

Top Image Systems (TIS) provides automated data capture solutions that improve enterprise business processes. eFLOW Unified Content Platform, TIS' leading software solution, integrates data from multiple sources and of different types, such as invoices, freight and shipping bills, purchase orders and others. TIS' solutions seamlessly deliver the extracted data to enterprise applications such as document and content management, ERP or CRM.

In addition to a seamless integration into SAP systems, eFLOW Ability offers a complete SAP-oriented business workflow and Accounts Payable and Accounts Receivable document processing, approval, and validation solution. This allows for an automated financial capture solution for invoices and purchase orders. Once an invoice is captured and automatically recognized, both the image and the extracted content are transferred to SAP R/3, verified against existing information, parked and sent through an inclusive yet specific approval for payment process. Utilizing a unique web server, non-SAP users may access the system and take part in the approval process of any invoice. The result is an open system with less bottlenecks and delays in critical processes.

eFLOW Ability is based on TIS' leading software, eFLOW Unified Content Platform, an end-to-end solution that streamlines the entire flow of information in organizations. eFLOW platform provides customers with a complete originally designed platform to handle any kind of document in any format from any source. eFLOW Ability adds an enhanced component to this solution.

eFLOW Ability is a result of a successful cooperation between TIS and KPS-concepts, a German-based company specialized in the development and integration of SAP business workflow solutions. The ability to seamlessly integrate into SAP R/3 creates a high-performance product line that companies can utilize to increase productivity, enhance the precision of entries and optimize cash management.

eFLOW Ability empowers users to streamline and accelerate the processing of invoices and any other document, take advantage of efficient accounts receivable and accounts payable management, eliminate periodic posting peaks, reduce errors and increase financial reporting accuracy and transparency.

Ido Schechter, CEO of Top Image Systems, commented, "In the past months, we have carefully analyzed the market situation and the potential for our products. We identified a growing demand for a SAP-based complete solution which integrates data capture with financial workflow systems. In KPS-concepts, TIS has found a strong partner with extensive SAP experience. Through this integration, SAP users are able to continue working with the familiar SAP environment while having access to the scanned documents and all the necessary extracted information. This integration fits well with TIS' long-term strategy, to achieve connectivity between the eFLOW platform and leading enterprise management applications and expand the solution we offer to our customers".

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 30 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.

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. 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 the Company 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), the Company's ability to successfully integrate TIS Japan, 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.

Contact Information

  • Contacts:
    Adi Granot
    Investor and Public Relations Manager
    Top Image Systems Ltd.
    +972 3 7679114
    Email Contact