SOURCE: Top Image Systems Ltd.

September 20, 2006 07:00 ET

Top Image Systems Strengthened Its Position as a Leading Provider of Automated Mailroom Solutions

Top Image Systems Wins Four New European Projects Valued at More Than $1 Million

TEL AVIV, ISRAEL -- (MARKET WIRE) -- September 20, 2006 -- Top Image Systems, Ltd. (NASDAQ: TISA), the leading innovator of data capture solutions, announced today that it recently won four automated mailroom projects that will generate over $1 million in additional revenues that will be recognized by the end of 2006.

TIS's eFLOW Unified Content Platform provides customers with a single end-to-end solution to capture, classify, process, validate and deliver any incoming critical information to document and content management applications, ERP or CRM. This is accomplished through one platform and one set of business rules.

eFLOW offers a range of modules to provide for maximum flexibility in automating the entire document process. eFLOW Smart, the automated classification solution, is the gateway for all mail entering the organization. It effectively and automatically sorts the incoming information, classifies all documents, recognizes and extracts the data from documents. It then applies the organization's business rules, validates the data, and seamlessly delivers it to the back-end enterprise systems.

In the past few months, this automated mailroom solution has been gaining momentum and has been chosen already by several major organizations across Europe. Tenders that were won include input management and classification solutions for a leading telecom company and a major utility company in France, an input management and classification system for a governmental agency in Holland and a mailroom solution for a major health insurance company in Germany.

"We are extremely pleased that the market realizes the great potential in our automated mailroom solution. Organizations that implement this solution can benefit from reduced operational costs, quick and accurate delivery of business-critical information, elimination of burdensome paper-based information, and improved mail security," said Dr. Ido Schechter, CEO of Top Image Systems. "This recent success has proven our strategy of focusing on the specific needs of major corporations. We relentlessly expand our offering to provide our customers with a comprehensive solution to handle all incoming information entering their enterprise. It is encouraging to see that the market appreciates our technological developments and translates them into significant business advantages."

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's 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 Bar-Lev
    Director of Marketing and IR
    Top Image Systems Ltd.
    +972 3 7679114
    Email Contact