Top Image Systems Launches Cloud-Based Accounts Payable Solution for SAP

New Cloud Offering to Be Showcased at SAP Biz.ONE Conference

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| Source: Top Image Systems Ltd.

TEL AVIV, Israel and PLANO, Texas, Oct. 23, 2017 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (NASDAQ:TISA), a global provider of solutions that facilitate digital business, today announced the launch of its cloud-based eFLOW AP solution, integrated with SAP Business One.

In delivering a cloud-based deployment of its proven on-premise eFLOW AP for SAP, Top Image Systems can empower a broader range of accounts payable professionals with end-to-end automated invoice processing. For Business One organizations, the solution can radically enhance processing efficiency, expand accounts payable staff performance, reduce operational risks, and improve response times and customer journey experiences.

eFLOW AP automates the capture, recognition and extraction of invoice data in the cloud, and matches the incoming data against SAP Business One master data. By automating the repetitive, replicable and routine work of invoice processing, the solution frees up accounts payable staff for higher value finance tasks and analysis, and offers benefits such as:

  • Maximum straight-through processing: Intuitive business rules that automatically validate invoice data against SAP Business One, auto-fill missing data and post invoices with no outstanding business issues to Business One
     
  • Continuous improvement: Machine-learning algorithms mimic actions of accounts payable staff and, over time, learn to do them better
     
  • Improved financial performance: Elimination of manual data entry, 24-hour processing run time and invoices paid on time or even earlier to cash in on early payment discounts
     
  • Transparent accounts payable processes: Full visibility into invoices and related data, and constant real-time performance data for deep insights that help finance leaders make better decisions and fine-tune internal processes
     
  • Painless compliance: Easy-to-establish approval hierarchies, rule-based decisions that don’t have to be preprogrammed, workflow logs and a secure cloud archive for invoice images
     
  • Flexible exception handling: The most user-friendly interface available to route approvals, prioritize and assign duties, resolve discrepancies and automate supplier communication

SAP Business One organizations access eFLOW AP through an easy-to-use web browser, thereby avoiding additional infrastructure investments. Quick implementation and flexible user onboarding mean the solution offers immediate value, as does the data already stored in the cloud; for example, when the same supplier serves several businesses in the same network.

“The launch of our eFLOW cloud AP solution positions our company for accelerated growth in the cloud applications software segment. Integrating with SAP Business One further strengthens our footprint in the SAP market segment. Our cloud solution supports a multi-tier software strategy for SAP customers with SAP ECC deployed at the enterprise level and SAP Business One utilized in subsidiaries,” commented Brendan Reidy, CEO of Top Image Systems. “By offering eFLOW AP in cloud and hybrid environments as well as on premise, our SAP customers get end-to-end automated processes in the way that works best for them, but with the security and assurance of a certified integration with SAP.”

Top Image Systems is showcasing the new cloud solution to SAP Business One channel partners, solution providers and end user customers at the SAP Biz.ONE Conference, October 23-25. Top Image Systems and SAP Business One have worked collaboratively to deliver an integrated solution that is built upon and extends the functionality of SAP Business One to meet the rapidly growing demand for cloud-based accounts payable solutions. 

“We look forward to building a mutually beneficial partnership with Top Image Systems to meet the unique and changing needs of our customers looking to invest in cloud solutions to cost-effectively manage their IT investments as their business grows,” said Paul Killingsworth, Head, SAP Business One North America Customer Relations & Solution Experts. “When you choose to run the SAP Business One application, you get the best of both worlds. You can quickly and affordably integrate operations with those at corporate offices for consistency and visibility while maintaining the freedom you need to be agile and responsive to new market opportunities.”

About Top Image Systems

Top Image Systems™ (TIS™) Ltd. is a global innovator of on-premise and cloud-based applications that optimize content-driven business processes such as procure to pay operationsremittance processing, integrated receivables, customer response management and more. Whether originating from mobile, electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications, transforming information entering an organization into useful and accessible electronic data, delivering it directly and efficiently to the relevant business system or person for action with as little manual handling as possible.  TIS’ 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 https://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.

Contacts: 

TIS Company Contact:
Camille Womack, Director of Corporate Marketing
Camille.womack@topimagesystems.com (214) 256-4600 

TIS Investors Contact:
James Carbonara, Regional Vice President, Hayden IR
james@haydenir.com + 1 646 755 7412