Hey Chris! Hey Emory
I finally got one posted ahead of you guys!
I hope it looks OK. And I SURE hope I'm posting the whole thing ;-)
TiS ANNOUNCES NEW MULTIPLE,
NON-EXCLUSIVE CHANNEL
DEVELOPMENT STRATEGY IN U.S.
FOR IMMEDIATE RELEASE
Contact:
Izhak Nakar
CEO & Chairman of the Board
TiS - Top Image Systems
+ 972 3 648 7722
Galit Sadan
Channel Sales Director, US & Canada
Top Image Systems, Ltd.
+ 1 443 604 288
TiS ANNOUNCES NEW MULTIPLE,
NON-EXCLUSIVE CHANNEL DEVELOPMENT
STRATEGY IN U.S.
Tel Aviv, Israel, April 08, 1999 - TiS - Top Image Systems, Ltd.,
(NASDAQ: TISAF, TISWF) announced today that as a result of
increasing demand in the U.S. market for TiS' flagship product
AFPSPro, the company has made a strategic decision to aggressively
develop multiple and non-exclusive channel distribution. Accordingly,
dakota imaging will no longer be the exclusive distributor of TiS'
products in the U.S. This provides for TiS' accelerated expansion
through recruitment of multiple distribution channels to satisfy the
demand for additional marketing, sales and technical support.
TiS CEO and Chairman, Mr. Izhak Nakar, commented, "Since we
signed the agreement with dakota imaging, we have seen a very
positive response to our flagship product and have initiated an install
base for AFPSPro in the U.S. with customers like Blue Cross Blue
Shield of Vermont. With the success of this reference site, we are
seeing demand for our product increase significantly and we
understand that the resources of one distributor alone will not be
capable of meeting this demand and supporting our efforts to pursue
additonal vertical markets. Thus, we have made the decision to
proactively expand in the U.S. and Canada through a multiple and
non-exclusive channel development strategy."
"Our firm commitment to this strategy means the addition of system
integrators (SI's), value added resellers (VAR's), value added
distributors (VAD's), and consultants to the growing team of TiS'
global partners," Mr. Nakar continued. "We will offer our partners a
host of valuable benefits including product discounts, enhanced
technical training and support, and joint marketing resources. As a
result, we are looking forward to the dramatic expansion of AFPSPro
distribution and TiS operations in the U.S."
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 www.tis.co.il.
Certain matters discussed in this news release are forward-looking
statements that involve a number of risks and uncertainties including,
but not limited to, risks in product development plans and schedules,
rapid technological change, changes and delays in product approval
and introduction, customer acceptance of new products, the impact of
competitive products and pricing, market acceptance, the lengthy sales
cycle, proprietary rights of the Company and its competitors, risk of
operations in Israel, government regulation, dependence on third
parties to manufacture products, general economic conditions and
other risk factors detailed in the Company's United States Securities
and Exchange Commission filings.
T.i.S. Contact Information:
T.i.S. - Top Image Systems, Ltd.
2 HaBarzel St.
Ramat Hahayal Tel-Aviv 69710, ISRAEL
Tel: +972-3-6487722
Fax: +972-3-6486664
Web: tis.co.il
Email: contact@tis.co.il |
