TEL AVIV, Israel, June 11, 2008 (PRIME NEWSWIRE) -- Top Image Systems, Ltd. (TIS) (Nasdaq:TISA) (TASE:TISA), the leading innovator of intelligent document recognition, today announced that a leading UK extended warranty specialist has selected TIS's eFLOW as its solution for document processing. The project is valued at over $500 thousand.
The company is the UK's leading specialist provider of extended warranty cover for electrical domestic appliances and also provides repair protection for central heating systems.
Processing over 20,000 warranty documents per day, the company was looking for a solution to speed up processing, reduce administration costs and errors, and improve customer service and query resolution. After an intensive benchmark selection process against leading companies and solutions in the marketplace, TIS was selected to help accomplish these organisational goals.
TIS's eFLOW solution offered the advanced technology required and the flexibility to maximise location and workforce resources to meet the business demands.
Oded Leiba, Managing Director, TIS (UK) commented, "We are very pleased to have been selected from the benchmark testing. We are confident that the company will see immediate benefits from our eFLOW solution and are pleased the organisation recognises the advanced technology, flexibility, and high recognition rates that we provide."
Leiba continued, "The agreement also demonstrates how the additional investment we have put into the UK over the last year means that we can give our customers stronger local support to increase the level of service they receive compared to the other companies in the market."
After the successful implementation of the warranty documents process, the company plans to extend eFLOW's capabilities and add more applications onto the eFLOW platform in order to further automate customer services while reducing operational costs.
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organisations. Whether originating from electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organisation. TIS's eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators and value added resellers, as well as strategic partners. For more information on TIS, visit the company's website at: www.TopImageSystems.com.
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"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995:
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, particularly statements regarding future operating or financial performance. Words such as "will," "expects," "anticipates," "estimates," "intends," "believes," "plans" 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 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 TIS 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), TIS's ability to successfully integrate businesses it acquires, 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.