Tag Archives: Top Image Systems

TIS’ eFlow CloudBridge: Leveraging the Global Workforce with Crowdsourcing

PayStream has recently heard of a new achievement by one of our partners, Top Image Systems image001(TIS)—and its incredibly interesting. The company’s crowdsourcing solution, eFLOW® CrowdBridge, has been nominated as one of the three best ECM solutions  of 2014. The nominations were awarded by an independent panel of industry experts at the annual ECM Day held in Baden, Switzerland. The focus of the ECM Awards is to recognize solutions that connect individuals with knowledge, and that are strongly focused on users’ needs.

ecm_award_2014_logoeFLOW CrowdBridge is an extension of the web and cloud-based features of the recently released eFLOW5® platform. The solution extracts content from documents or images,  validates them in the cloud, and transfers accurate, complete data back into the relevant target system. It was nominated in the ECM Solution of the Year category for the data validation capabilities it uses in conjunction with crowdsourcing platforms. These capabilities enable eFLOW users to smooth processing bottlenecks and reduce cost and data entry.

We find TIS’ eFLow CloudBridge particularly interesting due to its usefulness with crowdsourcing, a dynamic and next-generation process. Crowdsourcing in itself has many different facets, but all have to do with pulling resources from several source groups in the form of information, services, or even money. One of the leading uses for crowdsourcing today is crowdfunding, which has much of its popularity for its ability to  make anyone an entrepreneur. The idea of crowdsourcing data capture however—that takes the process to a whole other level and offers a dynamic new possibility for business development.

The concept of collaborative technology is a powerful one, and any device that optimizes this technology is extremely valuable. TIS’ solution works primarily with crowdsourcing platforms like Amazon’s Mechanical Turk, and it is unique in that its main function is to compliment and enhance these existing technologies in a way that is efficient and extremely valuable. The Mechanical Turk, for example, is a crowdsourcing internet marketplace that enables individuals and businesses to coordinate the use of human intelligence to perform tasks that computers are unable to do. According to TIS, it is reported that “over 500,000 crowdworkers from around the world complete work tasks via the Mechanical Turk, providing companies with a true 24/7 workforce that never sleeps.”

TIS’ CrowdBridge enables eFLOW customers to employ data entry resources in correspondence with the actual volume of work when dealing with platforms like the Mechanical Turk. This innovative solution brings power to businesses and enables them to expand their workforce in a collaborative and cost-effective way.

PayStream is proud to partner with such a bold company as Top Image Systems, and we image002-2congratulate them on their recognition as one of the best ECM systems in the market.

 

 

 

 

 

eGistics Aquired by TIS

Update: As of Tuesday, July 16th, eGistics was officially acquired by Top Image Systems in a transaction valued at $18 million. 

Today, PayStream Advisors was excited to hear the announcement of a new business eGistics_2010_Logo_blocks-278x70_1deal involving one of its vendors, eGistics Inc., a leading provider of cloud-based banking and payments solutions. eGistsics will be acquired by Top Image Systems (TIS), the Enterprise Content Management (ECM) and Business Process Management (BPM) solutions provider. This strategic arrangement will be beneficial for both companies geographically, technologically, and financially.

A major moTIStivation for TIS’ acquisition is eGistics’ secure and compliant cloud infrastructure, which effectively aligns with TIS’ cloud-centric growth strategy. eGistics’ CloudDocs solution will be leveraged with TIS’ own system to develop on-demand, smart processing applications for AP, AR, and other financial functions. Following the acquisition, TIS will extend its software portfolio to include additional smart process applications for banking and payment processing, and will also offer several TIS applications to the existing eGistics’ customer base.

eGistic’s is excited about expanding TIS’ capabilities to their own blue chip clients in the U.S. financial sector. “We believe the combination will have a very positive reception within the eGistics customer base and in the marketplace,” said Don Dixon, a member of the eGistics Board of Directors and Managing Director and Co-Founder of Trident Capital.

Not only will eGistics be supplying their clients with more diverse applications, they will also be expanding the global scale of their customer base. TIS will similarly profit, as this acquisition will strengthen their presence in the US market. “This transaction will also provide TIS with an additional distribution vehicle for offering our native mobile capture applications to large U.S. financial institutions which we did not have before, creating a significant business opportunity,” explained Michael Schrader, TIS COO.

Top Image Systems has been developing end-to-end solutions to capture, classify, process, validate and deliver business-critical key data since 1991. The company operates all over the world—they have several international branches and their solutions have been placed in 800 enterprise-level installations in more than 40 countries. eGistics is fully confident and optimistic about this acquisition, believing that both companies share a vision for creating smart financial applications.

“Not only does eGistics share a synergistic customer base with TIS, but also a common technology stack that we can build upon to further revenue growth for the combined company,” commented Robert Lund, Chairman and Chief Executive Officer of eGistics.
PayStream Advisors congratulates eGistics on their promising and dynamic business move.