New Government Project With Total Contract Value of Some US$350,000 Increases Top Image Systems' Footprint in Asia Pacific

Top Image Systems, Ltd. (NASDAQ:TISA), a global innovator of intelligent content processing solutions, announced today that the Company has signed an agreement with a total contract value for the Company of some US$350,000 for licenses and professional services.  In the framework of the project, which has been carried out together with one of the Company’s regional partners, eFLOW® has been deployed to capture and process several million documents.

“We are proud of our involvement in successful document process automation endeavors such as this challenging government project,” commented Alex Toh, Managing Director, Top Image Systems Asia-Pacific & Japan.  “In 2016 we are seeing growth in opportunities for business with new name customers in the region, arising both from increasing demand for innovative technologies in the banking sector as well as from a growing number of new projects across industry sectors arriving from various regional partners.  We are confident that the continuous, steady upsell of licenses and professional services to our existing customers together with the addition of new business from new customers and from partners will enable us to reach if not exceed our regional revenue targets.”

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 procure to pay 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 http://www.TopImageSystems.com for more information.

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.

Company Contact: 
Shelli Zargary
Director of Corporate Marketing and Investor Relations
[e-mail]
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Investors: 
James Carbonara
Regional Vice President, Hayden IR
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+ 1 646 755 7412