San Mateo, CA —June 6, 2017 — Tipalti, the leader in supplier payments automation, today unveiled a series of new capabilities enabling forward-thinking CFOs to transform their finance organization from an operational function to a strategic enabler of global growth, while transitioning AP from a cost center to a profit center. The new product announcements provide finance leaders with the ability to easily extend early payments to their suppliers, to efficiently and compliantly manage a multi-entity AP organization, and to streamline their entire end-to-end AP and payments workflow in one complete console with their new AP Hub -- effectively becoming the first cloud platform to unify these capabilities within one holistic supplier payments solution.
The announcements include:
Early Payment Automation, enabling finance teams to pay their suppliers earlier than their originally agreed-upon due date (e.g. Net 30), without negatively impacting the payer’s working capital. While suppliers get their money sooner relieving them of cash flow challenges, finance teams can generate revenue from discounts agreed to by the supplier in exchange for their earlier payment. Early payments revenue can subsidize critical financial operations modernization investments. The early payments solution is fully integrated into Tipalti’s end-to-end AP workflow, removing friction for both the payer and supplier to optimize the payer’s revenue potential from the program. Payers no longer need to negotiate with a third-party financier or manually secure lines of credit. Suppliers simply opt-in to the offering with one click. Multi-entity support provides businesses with multiple subsidiaries, divisions, and global business units the capability to manage these disparate accounts payable workflows while locking in consistent financial best practices, controls, and reporting across the entire enterprise. That includes real-time payment reconciliation across all entities. Each entity can also employ their own independent branding, unique payment options, tax workflows, payment routing, funds segregation, approval processes, and more, all managed from one central place. Businesses that have grown through mergers, acquisitions, and global expansion can now access a single version of truth and employ master-governance across their subsidiaries instantly. The AP Hub centralizes all AP and supplier payments processes within one modern, intuitive cloud-based interface. Encompassing supplier management and communications, invoice processing, global remittance, fraud detection and controls, tax and regulatory compliance, payment reconciliation, and now early payments and multi-entity management, the entire supplier payments operation has never been easier to manage.
"As a fast-growing business, GawkBox is constantly looking for ways to attract partners," says Chris Brownridge, Co-Founder and CEO at GawkBox. "Tipalti Early Payments is the perfect competitive differentiator. We can pay our partners faster, their onboarding and management is frictionless, and it directly generates revenue to reinvest back into our business."
"Tipalti Multi-Entity reduces our payments workload and risk managing across Matomy's business units worldwide and greatly improves visibility into our financial state," says Keren Farag, VP Finance at Matomy. "It used to be a much more time-consuming, error-prone and labor-intensive process to manage payments to payees associated with individual subsidiaries. Now Tipalti automates that entire process and centralizes our controls and financial reporting while providing entity-specific workflows."
“Building off of Tipalti’s unparalleled ability to automate the entire global AP and supplier payment operations, our new early payments automation, multi-entity support capabilities, and centralized AP Hub provides the modern finance organization with the platform to manage global accounts payable and payment operations more effortlessly and compliantly,” says Chen Amit, Tipalti Co-founder and CEO. “With these innovations, the CFO can finally focus their finance talent on driving their business’ global growth and competitiveness forward.”
Tipalti will be demonstrating these new capabilities at the “Future-Proofing Financial Operations” event in San Francisco on June 7th. To register for the event, visit https://tipalti.com/futureproofAP.
Tipalti is the only global supplier payments automation solution to streamline all phases of the supplier payment workflow in one holistic cloud platform. Tipalti makes it painless for finance departments to manage their entire AP and supplier payments operation. The solution addresses everything from payee onboarding and vetting, to tax and regulatory compliance, invoice processing, payments to suppliers anywhere in the world in a wide range of payment methods and currencies, supplier payment status communications, to payment reconciliation and AP reporting.
Forward-thinking CFOs use Tipalti to eliminate 80% of their supplier payment workload, helping them scale their business efficiently with global growth, while ensuring strong financial and compliance controls are in place. That's why companies like Amazon, Twitter, Roku, GoDaddy, Zumba, GoPro, Nikon, Seeking Alpha, Vimeo and hundreds of others trust Tipalti to elevate their global supplier payments operation.
To learn more about Tipalti, visit https://tipalti.com.
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