Tipalti Accounts Payable Automation
2 min read
In today’s blog post I would like to summarise a recent webinar product demonstration of Tipalti’s Accounts Payable Automation by Christopher Paolucci, who is a Mid-Market Alliances Manager at Tipalti.
About Tipalti
There’s the old way and the Tipalti way. Payables. It’s time-consuming. It’s risky. It’s challenging. It’s dull. It’s work no one should have to do. And we believe no one should. Tipalti’s goal is to grow with your company as you grow and as you scale. Tipalti is an accounting software financial technology business that provides accounts payable, procurement, and payments automation software for businesses. Tipalti is headquartered in San Mateo, CA, with offices in London UK, Vancouver Canada, Toronto Canada, Plano Texas, and R&D in Glil-Yam Israel. Christopher tells us that: Tipalti was founded in 2010 and has over 1,500 customers and $23B+ in annual transactions. Tipalti has 4M+ Payees and a 98% customer retention. Wow! They specialise in fast-growing, mid-sized businesses and are a Deloitte 500 & Inc 5000 winner for 3 years running. Their clients include businesses such as GoDaddy, Vimeo, Roblox, Twitch, National Geographic, and Twitter to name but a few!
Study case: Tipalti decreases Tapjoy's Management Workload by 50%
The Tipalti Wheel
How does it work?
Christopher explains that when you become a Tipalti customer you get signed on, you send a customised, branded email out to your vendors asking them to self-register their information into the Tipalti platform. The Tipalti rules engine then performs a mind-boggling 26,000+ rules to make sure that information is correct. Chris notes that Tipalti is partnered with KPMG, and meets tax compliance in over 50 counties. His summary: It all leads to paying your bills on time.
Looking for a B2B platform to satisfy your business?
Benefits of Tipalti
- Proactive communications
- Tax Compliance
- Invoice Processing using advanced approval routing and OCR capture
- Tipalti is a global licensed money transmitter, in 191 countries, in 120 currencies, and 6 payment methods
- Earn revenue with dynamic discounts with no change to processes or working capital
- Reconciliation & Reporting
- Seamless integration with any leading ERP and Accounting Systems to ensure your payables information is up-to-date
- Automate Accounts Payable without any changes to your ERP system
- Scale your high-velocity growth company by eliminating manual and inefficient payables, and become more global friendly.
- You can approve invoices via email, you don’t have to be at your computer
- Make all your payments through the Tipalti platform and easily reconcile them in your accounting software.
Streamline your accounting
Tipalti learns your flow and starts to automate intelligent automation learns how you work, and starts the process of figuring out how it can be most helpful in eliminating unnecessary manual steps for you. I call it magic. Tipalti accepts 6 payment types:
- Credit Cards
- PayPal
- Cheque
- Wire Transfer
- Local Bank Transfer
- ACH Push Payments - Automated Clearing House
A safe way to process and automate your payables? Choose Tipalti
26,000+ Validation rules reduce rejected payment risk "We make sure there's no fraudulent activity happening..." says Christopher from Tipalti. Here Christopher shows us some examples of the payment screen within Tipalti. Transferring money into your Tipalti account means you can pay vendors all around the world in whatever currency they need, and know it's securely going to hit their account so you can pay your bills on time. Too easy!
Here Christopher shows us an example of how you can schedule bulk payments in groups in the respected payment method that the supplier has requested. He mentions that you can set up multiple entities within a business (say for different office locations) and quickly switch to different entities to pay the bills per entity, saving time and effort by not having multiple Tipalti accounts set up. Christopher mentions this can save 80% of companies payable time by making the switch to Tipalti. Tipalti sorts out the front end, back-end, currency conversion, and reconciliation, making it a true time-saving asset.
Seamless Integration with Any ERP system
- Automate accounts payable without any changes to your ERP system
- Tipalti integrates seamlessly with leading ERP’s and Accounting Systems to ensure your payables information is up-to-date
- Tiplalti offers integration that automatically syncs invoices and invoice payment data between your ERP and Tiplalti – with minimal effort from you or your IT team
- Tipalti’s world-class integration capabilities, advanced technology, and intuitive interface smartly and efficiently manages the lifecycle of your vendor bills and payments
- Tipalti’s best-in-class AP automation solution is ideal to scale your high-velocity growth company eliminating manual and inefficient payables.
Read about: ACMO's Partnership with Tipalti
For further information, and to see a live personalised demonstration please reach out to us at info@acmo.com.au or book a meeting time
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