SmartStream and Top Image sign first bank to combined paper processing reconciliation platform

Source: Top Image Systems

Top Image Systems(TM), Ltd. (TIS(TM)) (Nasdaq:TISA), a leading ECM (Enterprise Content Management) solutions provider, today announced that the Asian-Pacific arm of one of the largest retail banks in the US selected SmartStream's TLM Reconciliations-Premium solution incorporating the eFLOW Banking Platform in order to expand the services they offer to their customers in the region.

Seeking to increase their loyalty, the bank decided to offer its corporate customers an invoice matching and reconciliation service to let these companies collect payments more efficiently. Leveraging a matching engine that automatically examines electronic invoices and remittance notices and compares them to actual payments transferred, the solution isolates and resolves discrepancies, letting the bank's customers focus more resources on their core business.

Although the majority of the remittances and invoices are expected to be in electronic format for collection through an automated data stream, SmartStream has partnered with Top Image Systems to enhance the TLM Reconciliations-Premium solution by employing the eFLOW platform to manage the input of any invoices and remittances arriving by post, e-mail or fax. eFLOW provides the most accurate and rapid enterprise capture technology streamlining all routes of input through one standard process.

"Top Image Systems understands remittance and invoice processing requirements, while SmartStream has the core reconciliation expertise and a solution that can efficiently match electronic invoices and related payments. With the combined strengths of our two organizations we can deliver significant efficiencies across the entire process, encompassing both electronic and paper-based communications. I believe the value we have demonstrated to this first client will lead to more joint opportunities," remarked Mark Taylor, Strategic Accounts Director -- Asia Pacific, SmartStream.

According to Isaac Rome, VP Tech, Banking Solutions at Top Image Systems, "Top Image Systems is happy to partner with SmartStream, a leading provider of reconciliation and matching process solutions for banks. We appreciate this opportunity to both enrich the eFLOW Banking Platform by packaging our content capture expertise into an innovative horizontal solution that meets the needs of a variety of banks as well as other enterprise customers in the Asia-Pacific region and outside it, as well as the opportunity to expand our services to this important banking customer."

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