Top Image Systems Inc fka TISA

[midastouch017]

World's Leading Pharmaceutical Company Selects TIS' eFLOW to Streamline Its Invoice Process

Tuesday February 21, 8:00 am ET


TEL AVIV, ISRAEL--(MARKET WIRE)--Feb 21, 2006 -- Top Image Systems Ltd. (NasdaqSC:TISA - News), the leading innovator of data capture solutions, announced today that a major global research-driven pharmaceutical company has chosen eFLOW to streamline its entire invoice process, with a contract valued at more than $500,000.

Aiming to standardize its invoice circulation, review and approval, as well as create a uniform approach to face future business needs, the pharmaceutical company decided to automate its invoice process. After rigorous technological tests, TIS' eFLOW was chosen to process over 700,000 invoices a year, including line items.

The system is highly decentralized, with servers in Benelux and the USA along with clients in local branches across Europe. The extracted information is integrated with the company's existing ERP, purchasing and Document Management systems comprised of JD Edwards, Ariba and Documentum. eFLOW provides the company with an efficient process, which allows a high level of stewardship with timely payments. With eFLOW, the number of transactions per clerk was almost doubled and cost per transaction was reduced by more than 40%. Based on the success of the first stage, the system will be rolled out to subsidiaries outside Benelux and the USA.

"TIS works successfully with numerous pharmaceutical companies around the world, thus we are pleased to add another eminent enterprise to the growing list of customers," said Ido Schechter, CEO of TIS. "The project objectives were to design and implement a standard scalable invoice management system, compatible with existing back-end systems. As all objectives were achieved, the company now enjoys a unified process, based on one workflow system for purchasing and invoicing with automatic line item and receipt matching."

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' 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

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