TEL AVIV, Israel, July 1, 2008 (PRIME NEWSWIRE) -- Top Image Systems, Ltd. (TIS) (Nasdaq:TISA) (TASE:TISA), the leading innovator of intelligent document recognition, and Contempus, the leading supplier of software solutions and expertise in Enterprise Information Management, today announced a system integration partnership with FDM Document Dynamics, the Italian shared service and outsourcing leader in document management services and solutions. This agreement joins a previous technological partnership between TIS and Contempus to offer customers an end-to-end solution independent of their ERP system.
FDM Document Dynamics will offer a joint TIS and Contempus solution to the Italian marketplace for end-to-end management of accounts payable, from the purchase order to the payment (P2P) to the supplier. The solution will integrate seamlessly to any ERP and will be offered as a complete amalgamation of the invoicing process with other company functions and systems. Once implemented, the solution will lead to substantial cost savings, significant qualitative improvement of information, and maximum control of the accounting process. Further, it offers secure web-based access from anywhere.
Dr. Ido Schechter, Chief Executive Officer of Top Image Systems, commented, "The advanced technological capabilities of the TIS solution are a perfect match for FDM's target customers. The advantages that FDM provides in terms of distribution and services are unsurpassed, and we are extremely pleased to work with them to provide this end-to-end accounts payable solution to the Italian market."
Silvio Tarantino, General Manager of FDM Document Dynamics, added, "TIS clearly has the industry-leading solution in this area. We believe that this offering will be of interest to all commodity sectors in our distribution channels, but specifically beneficial to businesses with vast supply chains, such as retail, manufacturing and services."
Petter L. Hansen, International Sales Director of Contempus, said, "Our partnership with TIS will be further strengthened by the FDM business, and we are truly excited to open this new channel in the Italian marketplace. We are also proud that a company with the reputation and market presence of FDM has chosen our technology and look forward to a successful relationship."
About Contempus
Contempus is the leading European supplier of advanced Enterprise Purchase to Payment (EP2P) solutions. We provide our customers with systems and expertise to streamline work processes and create clear business advantages. Today, more than 350 large corporations, including DSGi, BAE Systems, Ahold, Q8, Essilor, YUM! Brands, ABB, SAS, GANT and DnB, have chosen the market leading Contempus products. Our solutions are used every day by more than 200,000 professional users in 33 countries. Contempus is part of the Finnish Affecto Group, with more than 1100 employees in Norway, Finland, Sweden, Denmark, Poland, Estonia, Lithuania, Latvia and England. To learn more about our solutions, please visit www.contempus.com
About FDM Document Dynamics
FDM Document Dynamics is the Italian shared service and outsourcing leader in document management services and solutions. Cutting-edge experts and systems provide a fully integrated Document Lifecycle Management to over 500 companies throughout Italy. Visit www.fdm-documentdynamics.it
About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organisations. Whether originating from electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organisation. TIS's eFLOW Unified Content Platform is a common platform for the company's solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators and value added resellers, as well as strategic partners. For more information on TIS, visit the company's website at: www.TopImageSystems.com.
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"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995: Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, particularly statements regarding future operating or financial performance. Words such as "will," "expects," "anticipates," "estimates," "intends," "believes," "plans" and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. 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 TIS 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), TIS's ability to successfully integrate businesses it acquires, 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.