Top Image Systems, the Tel Aviv-based ISV that specializes in document capture solutions, recently announced it would reorganizing its worldwide sales force. According to a press release, "The Company is setting up a Global Solutions group to develop, manage and support market-driven solutions worldwide." Michael Schrader, who was formerly the managing director of TIS EMEA, has been appointed CTO and SVP, Global Solutions for TIS.
Historically, the majority of TIS' revenue has come EMEA, with invoice processing and digital mailroom solutions providing the primary markets. TIS also has a strong business in census processing worldwide. Last year, TIS launched a suite of mobile capture products aimed initially at the U.S. banking market and opened on office in New York City.
With the new re-organization, it sounds like TIS is now going to be selling both the mobile technology and its invoice and digital mailroom products worldwide. CEO Ido Schechter has been put in charge of TIS customer facing Field Operations Group.
Like many other public companies, TIS should be announcing its year-end 2012 results shortly. It has already projected 2012 revenue to come in at around $31 million, which represents close to 10% growth, but is lower than TIS previous guidance. In an earlier press release, TIS blamed delays in some major deals and the falling value of the Euro for the shortcomings.
There has been little mention of sales of the mobile capture technology yet, although the U.S. office has been only open since last summer. TIS has tried on previous occasions to market its traditional capture technology in the U.S. and has had some success in recent years working through its partner TransCentra - a partnership that began with J&B Software.
However, now TIS is a larger and more established company. It has also done acquisitions in the U.K. and Asia-Pacific, and with the U.S. office, it certainly has a global sales footprint established.
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2 comments:
That is quite surprising... I have never heard of that before reading your post!
It makes me quite puzzled and angry too!
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