TiS Awarded Contract to Process Turkey's IRS Forms
TEL AVIV, Israel, Oct. 5 /PRNewswire/ -- TiS - Top Image Systems Ltd. (''TiS'') (Nasdaq: TISAF - news, TISWF - news) and its partner in Turkey, DataSel, a subsidiary of the major Turkish conglomerate YUKSEL and a leading Computer Systems Integrator, announced today that they won a bid to supply the Turkish Ministry of Finance with the form processing and data entry requirements for processing the IRS tax return forms. The project is expected to generate $400,000 in revenues for TiS.
Turkey's Ministry of Finance estimates that the project will require the scanning and processing of approximately 500,000 forms per day. Production is expected to commence within 60 days, and will take place in a networked environment spread out over 3 different sites in Turkey. TiS is supplying its AFPSPro high-volume automated forms processing software, for the automated capture, process, and upload of the information contained in the Ministry's forms. Kodak, which ecently elected TiS as ''Preferred Partner,'' is supplying 12 Kodak Scanners 5500. DataSel will oversee solution integration.
Dr. Ido Schechter, TiS VP Sales & Marketing said: ''We are extremely pleased to have been awarded this project by the Finance Ministry of Turkey. With our partner, DataSel, we are increasing our presence in the Turkish forms processing market, a logical and strategic continuation of the success we achieved in processing Turkey's 1997 National Population Census. The unprecedented recognition rates
achieved by AFPSPro with the Turkish alphabet, turned into a record demand for forms processing orders for TiS. Consequently, we have added another on-going reference site in Turkey, and we are looking forward to adding more.''
Mr. Emin Sazak, Member of the Board and Managing Director of YUKSEL Construction and Chairman of DataSel, stated, ''Winning the bid with the Finance Ministry is another step in establishing market leadership. There is an overwhelming demand, both in the private and public sectors for automating large volumes of forms quickly, accurately, and reliably. Out of 8 competitors the Finance Ministry chose the TiS-DataSel team for our advanced technology, proven track record, and unique ability to accurately recognize Turkish characters, significantly decreasing the amount of errors that other solution providers are not capable of preventing from entering the customer's data base.'' |
