TEL AVIV, ISRAEL and NEW YORK, NY and MORRISVILLE, NC--(Marketwired - Sep 2, 2014) - Top Image Systems, Ltd. (NASDAQ: TISA), a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider and Issuer Direct Corporation (NYSE MKT: ISDR), a market leader and innovator of disclosure management solutions and cloud-based compliance technologies announce that Issuer Direct has chosen Top Image System's eFLOW® solution to automate certain front end portions of its Annual Report Service (ARS) order entry, thus eliminating the need for manual data entry that occurs when requests come in and prior to Issuer Direct's ARS processing and delivery. Issuer Direct is a disclosure management and targeted communications company whose integrated platform provides tools, technologies and services that enable clients to efficiently produce and distribute financial and business communications.
By utilizing TIS' eFLOW solution, Issuer Direct will be able to more efficiently capture their customers' multiple investor kit and annual report requests. The identified mandatory fields, such as customer name and address, are automatically captured by eFLOW and moved downstream into Issuer Direct's Disclosure Management order processing module. Implementing TIS' automated document processing solution liberates the staff from tedious front end manual data entry and allows them to focus on more productive processing and delivery activities.
"Since we have gone live with the TIS solution, we are already seeing significant time and cost savings on our front end due to its simple, straight through capabilities, and due to elimination of the need to ramp staff for periods of heavy volume. Turn times have been reduced from days to minutes," said James Michael, SVP Operations of Issuer Direct. "We are now looking at other areas in which to leverage the TIS technology for automated process optimization."
"Issuer Direct selected Top Image Systems' award-winning eFLOW solution for automated document processing for information flowing in to their organization due to our expertise in business process management and in operational cost reduction, which were key drivers for Issuer Direct," commented Avi Mileguir, TIS Americas EVP & General Manager. "The TIS Americas sales team is gaining momentum in the financial sector, and this new win is a proof point of the traction we are making in the US document automation market."
About Issuer Direct Corporation
Issuer Direct is a disclosure management and targeted communications company. Our integrated platform provides tools, technologies and services that enable our clients to disclose and disseminate information through our network. With a focus on corporate issuers, the Company alleviates the complexity of maintaining compliance with its integrated portfolio of products and services that enhance companies' ability to efficiently produce and distribute their financial and business communications both online and in print.
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications. TIS' flagship eFLOW platform and diverse business process and mobile image processing solutions are marketed in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers and strategic partners. Visit the company's website at http://www.TopImageSystems.com for more information.
Top Image Systems 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.