TEL AVIV, ISRAEL -- (MARKET WIRE) -- 02/27/07 -- Top Image Systems Ltd. (NASDAQ: TISA)
(TELAVIV: TISA), the leading innovator of data capture solutions, announced
today that it received an "Honorable Mention" by VIP Magazine as part of
its annual Application of the Year Award.
VIP, the leading document management magazine in the Netherlands, organizes
this event each year. TIS was nominated for the solution it provided in
cooperation with Oracle to automatically capture and process Office Depot's
incoming fax orders.
Mr. John de Waard, chairman of VIP's jury, explained, "Despite a growing
digital world around it, Office Depot still receives faxes for many of its
orders. These need to be processed adequately. Aiming to improve the
operation, Office Depot decided to centralize the fax order process and
introduce advanced recognition technology. As a result, the company saved
60% on FTE (full-time employees) alone. Similar success stories are seldom
found in the marketplace; enough reason for the jury to grant Office Depot,
Top Image Systems and Oracle an honorable mention in the VIP Application of
the Year 2006 award."
"We are truly honored that the jury granted TIS an honorable mention," said
Gideon Shmuel, VP Sales and Marketing of TIS. "This award is a further
proof of our ongoing commitment to offering our customers solutions that
meet their information management needs."
At this initial stage, TIS's eFLOW automatically captures, verifies and
processes more than 5,000 handwritten orders that arrive every day by fax
to Office Depot's European Customer Care center in Venlo, The Netherlands,
from many different locations. The data is validated against information
that exists in Office Depot AS400 order system and Oracle Content DB. At
the end of the process, the extracted information, along with the actual
images, is archived in Oracle Content DB.
By combining TIS's eFLOW platform with Oracle Content DB for archiving, the
customer receives a complete content management and archiving solution for
managing organizational information through its entire lifecycle; from
initial capture through management, storage and retrieval.
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's 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
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. 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.
Contacts:
Adi Bar-Lev
Director of Marketing and IR
Top Image Systems Ltd.
+972 545 330537 Email Contact
About Aaron Reed Aaron Reed is an assistant professor specializing in software architecture and design and .NET development at Neumont University in Salt Lake City, UT. He has worked professionally in the industry for over 12 years as a lead architect/designer, development manager, and VP of development. When he isn't spending time reading up on the latest in software development, Aaron loves spending time with his beautiful wife and three children.
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