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midastouch017

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midastouch017

Re: midastouch017 post# 36

Monday, 10/31/2005 7:30:56 AM

Monday, October 31, 2005 7:30:56 AM

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Top Image about to announce advanced module for invoice handling
31.10.2005 | 14:21
Shirley Yom Tov

It is highly fashionable for tech companies to say, "We're transforming into a solutions company, not just a products company." Amdocs (NYSE:DOX), Check Point Software Technologies (NASDAQ:CHKP) and ECI Telecom (Nasdaq:ECIL) all did that, and now they are being joined by a smaller company, Top Image Systems (Nasdaq:TISA).

Shortly it will be releasing an announcement to that effect. The company, which specializes in solutions to clear documents in enterprises, will be unveiling the launch of eFLOW Ability, a new module allowing eFLOW systems to be integrated into SAP systems, to handle invoice confirmation and payment at enterprises.

Top Image's marketing and sales manager, Gideon Shmuel, says the new module advances the company's handling of invoices by two steps.

"So far Top Image handled mainly efficient processing of invoices into the enterprise computer system," he explains. "It checked the invoice details against various systems in the organization." In the event of mismatch between the invoice and the details in the system, users had to become manually involved.

The new product includes a screen installed in the ERP system: when a mismatch occurs, Shmuel says, information can be accessed from the ERP to confirm or amend the invoice more quickly.

He says Top Image has already sold four such systems to new customers in France, Germany, Switzerland and the U.S. The average price per system is about $150,000 and Shmuel estimates the four projects as being worth about half a million dollars.

"We presented the system to SAP users and their responses were very warm," Shmuel reports. "We are making an effort to get into SAP and are recruiting people with the appropriate expertise."

One option is to upgrade existing systems at a cost ranging from $30,000 to $100,000, he adds.

The company will be including sales of the new module in its forecast for 2006, Shmuel says.

Top Image is worth $23 million on Nasdaq. For the second quarter of 2005 it reported record sales of $4 million on which it netted $57,000.

http://tinyurl.com/cmp3j

Dubi

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