New Government Project With Total Contract Value of Some US$350,000 Increases Top Image Systems' Footprint in Asia Pacific
29 August 2016 - 11:25PM
Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of
intelligent content processing solutions, announced today that the
Company has signed an agreement with a total contract value for the
Company of some US$350,000 for licenses and professional
services. In the framework of the project, which has been
carried out together with one of the Company’s regional partners,
eFLOW® has been deployed to capture and process several million
documents.
“We are proud of our involvement in successful
document process automation endeavors such as this challenging
government project,” commented Alex Toh, Managing Director, Top
Image Systems Asia-Pacific & Japan. “In 2016 we are
seeing growth in opportunities for business with new name customers
in the region, arising both from increasing demand for innovative
technologies in the banking sector as well as from a growing number
of new projects across industry sectors arriving from various
regional partners. We are confident that the continuous,
steady upsell of licenses and professional services to our existing
customers together with the addition of new business from new
customers and from partners will enable us to reach if not exceed
our regional revenue targets.”
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
operations, remittance 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
http://www.TopImageSystems.com 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. 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.
Company Contact:
Shelli Zargary
Director of Corporate Marketing and Investor Relations
shelli.zargary@topimagesystems.com
+972 3 767 9114
Investors:
James Carbonara
Regional Vice President, Hayden IR
james@haydenir.com
+ 1 646 755 7412
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