Mid-sized European Medical Device Manufacturer Selects Accounts Payable Automation from Top Image Systems
Top Image Systems Signs Contract for eFLOW(R) AP, Estimates Total Contract Value of Some $125,000 in 2016
TEL AVIV, Israel and COLOGNE, Germany, Jun 30, 2016 (GLOBE NEWSWIRE via COMTEX) --
Top Image Systems Ltd. TISA, +9.36% a global innovator of intelligent content processing solutions, announced today that the Company has signed an agreement to deploy eFLOW(R) AP at a mid-sized European medical device company. Operating ten subsidiaries worldwide, this manufacturer has an established reputation for delivering high quality titanium implant systems for the surgical management of fractures. The deal is estimated to reach a total contract value of some $125,000 in 2016.
Receiving some 30,000 purchase orders and 30,000 invoices annually from widely dispersed suppliers, partners and customers worldwide, this customer decided to automate its invoice and purchase order processing to increase accuracy and efficiency and to accelerate its procurement and sales order processing cycles. Recommendations from a trusted local system integrator and favorable customer references together with Top Image Systems' solid reputation for superior document recognition quality and precision led to the selection of eFLOW AP(R).
"We are encouraged by the momentum we are starting to build for our accounts payable solution, especially with mid-market companies," commented Michael Schrader, CEO Top Image Systems. "Our strong reputation for high quality invoice recognition and extraction, coupled with the recent release of our end-to-end Accounts Payable automation solution, is positioning us for growth."
