TEL AVIV, Israel, July 6, 2011 (GLOBE NEWSWIRE) -- Top Image Systems™ (TIS™), Ltd. (Nasdaq:TISA) (TASE:TISA), the leading ECM (Enterprise Content Management) solutions provider, announced today that it has signed a partnership agreement with Konica Minolta Business Solutions Spain, a key provider of comprehensive solutions for company-wide printing workflows in the business-to-business segment. This agreement allows Konica Minolta to offer its clients TIS eFLOWTM-based solutions, with an emphasis on processing large volumes of incoming mail and invoices automatically. Top Image Systems is positioned to further expand its foothold in the Iberian market through this partnership, which has already signed its first customer.
In order to market these new solutions, Konica Minolta has set up a separate business unit that will support clients in all aspects of implementing business process automation projects. TIS and Konica Minolta have participated in several joint marketing activities that have already led to a customer win.
Commenting on the new partnership, Dr. Ido Schechter, CEO of TIS, said, "In 2009, we refocused the company's business by concentrating on digital mailrooms, global banking platforms and increased partner channel distribution. The partnership with Konica Minolta Spain further demonstrates that Top Image Systems continues to execute on its growth strategy."
eFLOW allows companies to manage their document-based business processes faster, at lower costs and more accurately, all on a single enterprise platform. eFLOWTM efficiently and flexibly captures, classifies and validates business-critical data from multiple incoming document formats. The retrieved information is then immediately available for subsequent applications, storage solutions and delivery to management.
"We have seen a significant increase in demand for automated processing solutions on the Spanish market, particularly in the mailroom segment," commented Antonio Ramirez, Product Marketing Manager at Konica Minolta Business Solutions Spain. "In order to meet this demand, we have created two new lines of business: the in-house, or client service, 'virtual mailroom', and the automatic processing of invoices and delivery notes. With Top Image Systems, we have found a partner whose leading ECM platform and service portfolio can provide our customers with a maximum increase in efficiency as well as a reduction of costs."
"We are very pleased to partner with Konica Minolta as we are confident both parties will equally benefit from this agreement," stated Omri Gelb, Executive VP at TIS. "Through this partnership, TIS will be able to enhance Konica Minolta's portfolio offering with our best of breed technology for business process automation, while Konica Minolta will provide us with a strong distribution partner that maintains a high level of customer loyalty. We look forward to working closely with Konica Minolta and to the success the partnership will bring to both companies."
About Konica Minolta
Konica Minolta Business Solutions Spain is a wholly-owned subsidiary of Konica Minolta Business Technologies, Inc., Tokyo, Japan. The company delivers services and distributes products, systems and solutions that fulfill all the requirements of office and production printing over the entire document life cycle. Its product mix extends from multifunctional and production printing systems, laser printers and all-in-ones to a wide range of services and software to manage the complete document workflow in any company. To support customers optimally with powerful and sustainable solutions, technology leader Konica Minolta continuously invests in research and development work and regularly sets new standards for the entire printing industry.
For further information about the company, visit www.konicaminolta.es.
About Top Image Systems
Top Image Systems™ (TIS™) 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's eFLOW 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. Visit the company's website http://www.TopImageSystems.com for more information.
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Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied in those forward looking statements. Words such as "will," "expects," "anticipates," "estimates," 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, approval and introduction plans and schedules, rapid technological change, customer acceptance of new products, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, litigation, 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.
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