Deutsche Post Selects TiS to Provide Form Processing Solution
TEL AVIV, Israel, Feb. 23 /PRNewswire/ -- TiS -- Top Image Systems, Ltd., (Nasdaq: TISAF - news, TISWF - news) announced today that it has been selected to provide its award winning automated form processing solution for the Deutsche Post Verification Project. Pursuant to the agreement, TiS will provide the Deutsche Post with its high volume Automated Form Processing System, AFPSPro, to process address verification forms for nearly the entire population of Germany (estimated 61 million people).
The Deutsche Post estimates that the Verification Project will require the processing of approximately up to 1 million forms per day, a total of 36 million forms. The project is expected to begin in March, 1999, and will constitute one of the largest volume forms processing projects ever carried out in the world.
Mr. Thomas Vogt, Managing Director of Deutsche Post, said, ''We chose TiS' AFPSPro primarily due to its high level of recognition accuracy and minimal percentage of substitution rates. Moreover, the AFPSPro has a uniquely efficient mode for the completion of unrecognized characters. We are pleased to have found a committed partner in TiS, and we believe this project will be a great success.''
Mr. Izhak Nakar, CEO and Chairman of the Board of TiS stated: ''We were very impressed with the Deutsche Post production site set-up for processing millions of forms on an ongoing basis. This project
illustrates the great potential within the German form processing market. The success of our first bid with the German Government is tantamount to tremendous opportunity for penetration of the German market, which is an important strategic market for TiS.''
TiS - Top Image Systems, Ltd., develops and markets form processing, information recognition and data entry software, systems and technologies. The Company's software minimizes the need for manual
data-entry by automatically reading and processing the information contained in forms, increasing data capture accuracy and the rate of information processing. TiS' award-winning AFPSPro software provides
a complete, cost-effective, reliable solution for mid to high-volume production form processing. For more information on TiS, you can visit the Company's Web Site at tis.co.il.
Sorry, but just a thought that it only take a minute or so of small deletions to get these into a readable form...
Great NEWS!
Best of luck to TISAF@!!!
HOW ABOUT THE USPO!!!!!?????
I am getting excited about the Blue Cross deal...just think about another 49 states worth of forms processing!
chris
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