Top Image Systems' eFLOW(R) AP Gaining Traction in the Accounts Payable Automation Market in 2017
TEL AVIV, Israel and PLANO, Texas, Jun 28, 2017 (GLOBE NEWSWIRE via COMTEX) --
Top Image Systems, Ltd. TISA, +5.60% a global innovator of intelligent content processing solutions, today announced that the company is demonstrating continued momentum for the eFLOW AP solution in 2017.
Examples of deals Top Image Systems has closed this year include an agreement with a retail chain in North America through a strategic partner, an expanded license with a leading data management company in India, and transactions with a consumer goods manufacturer, a medical device manufacturer, a leading utilities provider in Germany, and a business process outsourcing partner in the UK. These deals are an indication that the new eFLOW AP solution is gaining traction, further strengthening the reputation of TIS for delivering scalable accounts payable automation solutions globally.
"The growing adoption of our eFLOW AP solution is based on multiple things--an intuitive user experience, which enables finance organizations to control the entire AP process from inside SAP within a familiar environment, the elimination of data redundancy, and the efficient leveraging of existing SAP infrastructure, including new SAP functionalities such as FIORI," said Carsten Nelk, Chief Technology Officer of Top Image Systems.
"We are encouraged by the traction we are seeing with eFLOW AP, particularly within mid-market companies," commented Brendan Reidy, CEO of Top Image Systems. "Our solution enables finance organizations to gain real-time insight into key payment metrics such as Days Payables Outstanding, as well as reduce processing transaction costs while increasing return on invested capital by extending early payment discounts to preferred suppliers. In addition, our existing install base of eFLOW customers who are currently deploying eFLOW to automate the capture of vendor invoices represent upsell opportunities for us to upgrade them to our eFLOW AP solution. Our customers are realizing tangible ROI associated with our accounts payable automation solutions." [1]
