SOURCE: Top Image Systems Ltd.

October 11, 2005 08:00 ET

Top Image Systems Awarded Republic of Ireland Census Project

TEL AVIV, ISRAEL -- (MARKET WIRE) -- October 11, 2005 -- Top Image Systems Ltd. (NASDAQ: TISA), a leading innovator of Data Capture solutions, announced today it was selected as the information collection solution for the 2006 Irish Census.

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.

The Irish Central Statistics Office (CSO) has appointed TIS' long time partner, CACI, as the prime contractor for the project and TIS as the automated data collection software solution provider.

In 2001, TIS, in cooperation with CACI, were awarded the contract to process the 2002 Irish Census against stiff global competition. The success of this project resulted in the two companies being appointed for the second time running.

Approximately 50 million images will be scanned and processed by TIS' eFLOW Unified Content Platform through the course of the project, which will be completed by December 2006. The comprehensive solution is expected to improve the productivity of census workers, speed census processing time and generate important cost-savings for the Irish Government.

According to Donal Garvey, Director General of CSO for Ireland, "The five yearly census is the most time-critical survey undertaken on behalf of the Government. We had to be confident with we have chosen the right partners and technologies for this project. Both CACI and TIS had proven their professionalism and extensive know-how. Based on the trust and close working relationship we developed during the course of the 2002 census, we are convinced we can now achieve further efficiency in the 2006 operation."

Greg Bradford, Chief Executive of CACI Ltd, said, "The 2006 Irish Census is an important project gain for CACI. This contract recognizes our expertise in integrating world-class technologies for document management and automated data capture. The integration of Top Image Systems' breakthrough technologies set new standards in the efficiency and accuracy of national census processing. We look forward to continuing our successful partnership with TIS on the one hand and with the CSO on the other, and delivering accurate, timely data on the Irish population."

Dr. Ido Schechter, CEO of Top Image Systems, added: "TIS enjoys the largest market share of worldwide census projects that utilize software technology to capture and validate data from population census forms. Over the last five years, we gained vast experience in high-volume, high-scale complex projects. We are confident that our effective, flexible and highly sophisticated data capture solution will meet CSO's strict requirements."

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