Wednesday, September 15, 2010

TIS Wins $2 Million Invoice Processing Deal

In a good sign that big invoice processing deals are still out there, Top Image Systems just announced it had completed installation of a 1.5 million Euro (almost $2 million) deal with an Italian power company. The customer is running an SAP ERP system. Because there has been so much focus on the capture of invoices in SAP environments over the past few years, especially by vendors like ReadSoft and Open Text, we often wonder how many big deals of this nature are left, and the answer we typically get is that the market is only 25% penetrated at most.

Historically, TIS has been strongest in Europe, but espeically Germany, so it's a good sign for them to win such a big deal in a market other than Germany. And apparently, there are still big invoice processsing deals out there to be won.

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