SOURCE: Top Image Systems Ltd.

November 23, 2005 09:33 ET

A Major Outsourcer Selects Top Image Systems' eFLOW to Process up to 50,000 Documents per Day

With This Contract, TIS' Customer Base Has Been Expanded With the Addition of a High-Volume Direct Marketing and Outsourcing Service Provider

TEL AVIV, ISRAEL -- (MARKET WIRE) -- November 23, 2005 -- Top Image Systems Ltd. (NASDAQ: TISA), a leading innovator of intelligent document recognition, announced today that Prodata, one of the primary service bureaus in Germany, has chosen TIS' eFLOW3, the latest version of the company's leading software, as its document automation solution.

Top Image Systems (TIS) provides automated data capture solutions that improve enterprise business processes by integrating 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.

Based in Germany, Prodata is a business process outsourcer specializing in document capture, processing and delivery for companies throughout Europe. Its customers include large financial service providers, telecom companies and major commercial and industrial enterprises.

To discover the right data capture technology to increase its efficiency and strengthen its competitive advantage, Prodata, one of the primary service bureaus in Germany, conducted a detailed evaluation process. In the end, eFLOW3 was selected to replace Prodata's previous system to scan, sort, capture and process information from more than 10 millions various documents annually, including invoices, letters, address forms, vouchers and coupons.

"Persistently seeking ways to advance services to our customers, we found eFLOW3 as the sole solution that can cope with the challenge of efficiently and accurately processing large volumes of varied incoming information, while providing us with the flexibly and scalability to expand our offering to our customers," commented Mr. Wolfram Heftrich, Management Partner at Prodata. "With eFLOW3, we can now present our customers with an even wider range of services including a full mailroom application and a complete invoice capture process."

"We considered alternate input management solutions from other vendors on the market, but have selected TIS' eFLOW3, due to its quick setup time and superior OCR/ICR capabilities, effective also with colored marketing materials. TIS' FormOut technique automatically omits the background while its advanced algorithm of voting between different recognition engines leads to even improved recognition rates. The high-performance approximate search and matching solution provided by eFLOW3, ensures that high volume of reference records are accurately and efficiently processed. To complete the solution, eFLOW3 allows a distributed system and remote completion over one network and application," add Mr. Eberitzsch.

To achieve the highest accuracy levels in data recognition in minimal time, TIS has teamed with Exorbyte, a German technology provider, which has developed a high-performance approximate search and matching solution. Based on complex algorithms, the joint solution enables information processing of multi-field documents over a large database, while dramatically reducing time and increasing efficiency.

Mr. Michael Schrader, General Manager of TIS Germany, stated: "As one of the primary outsourcers and service bureaus in Germany, Prodata's choice of TIS eFLOW3 for its service operations greatly pleased us. Prodata was looking for a complete information capture and processing solution that would be flexible enough to cope with any type of information and scalable enough to grow with the company's future needs. eFLOW3 will support the Company's efforts to continually sharpen its focus on customers and improve the efficiency and quality of its business processes."

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