Allied Bakeries Selects Top Image Systems’ eFLOW® AP for SAP for Centralized, Automated Invoice Processing
03 Octobre 2018 - 2:00PM
Top Image Systems Ltd.,
(NASDAQ: TISA), a global
innovator of intelligent content processing solutions, announces
that Allied Bakeries has signed a contract with Top Image Systems,
a preferred supplier, to implement an automated invoice processing
solution that is integrated with their SAP system.
Allied Bakeries is a wholly owned subsidiary of the
Associated British Foods (ABF) Group, which totaled £15.4bn in
revenue in 2017. The ABF Group comprises five business
segments—Grocery, Sugar, Ingredients, Agriculture, and Retail.
Allied Bakeries operates within the Grocery segment, manufacturing
such UK household brands as Sunblest, Kingsmill, Allinson’s, and
Burgen.
Allied Bakeries operates a Shared Services Center (SSC) in
Liverpool, England, for its centralized Accounts Payable function,
which services the company’s UK branches. In 2017, Allied Bakeries
embarked on a rigorous market evaluation of invoice automation
technology providers, resulting in an extensive tender procurement
process. With the entire Finance system landscape supported by
their SAP platform, it was vital to ensure that full compatibility,
cost efficiency, and flexibility were adhered to during their
evaluations.
In the end, Allied Bakeries selected Top Image Systems to
provide its eFLOW AP for SAP solution, an accounts payable
automation solution with SAP-certified integration. TIS eFLOW AP
for SAP will provide Allied Bakeries with full OCR and automated
workflow components, fully integrated within the Allied Bakeries
SAP system. Accounts Payable staff can access eFLOW AP for SAP
through a single user interface, in their familiar SAP environment,
to maximize process efficiency. The initial implementation will
handle in excess of 100,000 invoices per year, incorporating a
variety of source input formats.
“Top Image Systems’ eFLOW system is a comprehensive solution and
a perfect fit for all the Allied Bakeries Accounts Payable
requirements. After a very thorough selection process, I felt that
TIS delivered a clear picture of how their eFLOW solution would
deliver immediate benefits for Allied Bakeries and the agility to
continue to support our business as it progresses into the future,”
said Sean Don, Head of Operations, Allied Bakeries Business
Services Centre.
“We are committed to delivering innovative solutions to help
Finance teams drive down transaction costs through continuous
process improvements, as well to providing real-time visibility
into their finance operations,” said Brendan Reidy, CEO of Top
Image Systems. “We were pleased to work with Allied Bakeries as
they conducted their in-depth evaluation of the top suppliers of
accounts payable systems and are proud that they selected Top Image
Systems as their preferred provider. Allied Bakeries is part
of Associated British Foods, with operations in 50 countries, and
we are excited to be selected for this strategic system
deployment.”
About Top Image Systems Top Image Systems™
(TIS™) Ltd. is a global innovator of on-premise and cloud-based
applications that optimize content-driven business processes such
as accounts payable operations, remittance processing, integrated
receivables, customer response management and more. Whether
originating from mobile, electronic, paper or other sources, TIS’
solutions automatically capture, process and deliver content across
enterprise applications, transforming information entering an
organization into useful and accessible electronic data, delivering
it directly and efficiently to the relevant business system or
person for action with as little manual handling as possible. TIS’
solutions are marketed in more than 40 countries through a
multi-tier network of distributors, system integrators, value-added
resellers and strategic partners. Visit the company's website
at https://www.topimagesystems.com/ for more information.
Top Image Systems 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.
Contacts:
TIS Company Contact: Camille Womack, Director
of Corporate Marketing Camille.womack@topimagesystems.com (214)
256-4600
TIS Investors Contact: James Carbonara,
Regional Vice President, Hayden IR james@haydenir.com + 1 646 755
7412
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