Major European Energy Company Switches Over to eFLOW® INVOICE and eFLOW INVOICE for SAP

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Quarter Million Dollar eFLOW INVOICE Win Increases Top Image Systems’ Market Share in European Energy Sector

Tel Aviv/Cologne – December 30, 2013 – Top Image Systems Ltd. (NASDAQ: TISA) a leading ECM (Enterprise Content Management), BPM (Business Process Management) and mobile image processing (MIP) solutions provider, announces a new $240,000 project win at a major German energy supplier, adding another company to the growing list of TIS customers in the power and utilities sector.  The energy supplier selected Top Image Systems’ eFLOW® invoice processing solution to meet their broader accounts payable processing needs, automate the handling of 300,000 invoices per year and provide comprehensive integration with SAP to enable a full end-to-end Accounts Payable workflow.   

With more than 9,000 employees and sales of over seven billion euro, this energy company is one of the largest utility companies in Germany, supplying some 1.4 million customers with electricity, 1.6 million with gas, and over 650,000 with telecommunication and IT services.   The company was using a competitive solution before they decided to flip the switch and move to eFLOW.  

According to Egbert Fischer, Top Image Systems’ General Manager, Central Europe “eFLOW is proving to have strong capacity to oust the competition.  The customer was very impressed by the high level of TIS’ advance preparation, as well as by our deep and comprehensive knowledge of their needs.  The initial project was to cover only invoice capture, but then the customer was also impressed by eFLOW for SAP; in the end the customer decided to replace their existing workflow solution as well.  The eFLOW solution adapts excellently to very complicated invoice situations, and the full integration with SAP gives users confidence and visibility into cash flow. With benefits of high recognition rates as well as easier workflow handling and extended workflow capabilities, more and more customers are moving to eFLOW.   In an industry in which invoice processing requirements are extremely complex, TIS is gaining more and more satisfied references in Germany and across Europe, thus becoming the de facto standard for AP Automation in the energy and utilities sector.”

News Source : Major European Energy Company Switches Over to eFLOW® INVOICE and eFLOW INVOICE for SAP

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