Accounts Payable Automation From End to End
OCR Invoice Capturing • Tax Compliance • ERP Sync
• Payment Reconciliation • Payment Processing
• Early Payments • Supplier Management
Eliminate 80% of your accounts payable workload by automating the entire supplier payments operation
The only AP automation solution to streamline the entire invoice-to-pay-to-reconciliation accounts payable process.
- Streamline supplier onboarding and management
- Collect and validate W-9, W-8, and VAT tax forms
- Touchlessly process and approve invoices
- Effortlessly pay suppliers anywhere in the world
- Automatically communicate payment status to suppliers
- Instantly reconcile payments, integrate with ERP
- Upgrade AP financial controls, eliminating financial risk
It used to take a week to pay vendors. With Tipalti, it’s completely automated, while suppliers get paid more promptly, and we no longer need to deal with multiple international banking systems.
COO at Touch of Modern
Explore the AP Automation Workflow
See how Tipalti provides a comprehensive approach to global account payables ideally suited for invoice-driven payments.
By turning to Tipalti we have been able to scale our global payment processes rapidly without growing our Accounts Payable team.
VP of Finance at Disqus
Why companies rely on Tipalti for Accounts Payable Automation
Wipe out 80%
of your workload
Cut the manual work out of your accounts payable process and align resources to focus on revenue growth and cash flow management instead of back-office financial operations.
Scale rapidly without
adding more staff
Make the AP process invisible by cutting out the manual work. Align resources to focus on mission-critical activities instead of back-office financial operations.
Eliminate financial and
KPMG-approved W-9/W-8 tax compliance, audit trails, approval workflows, and role-based views are just a few of the governance capabilities to mitigate risk and fraud.
Accelerate your financial
close by 25%
Payment methods, entities, currencies, subsidiaries, and geographies are all combined and reconciled in real-time for instant visibility. Detailed transaction and reconciliation reports are integrated with your ERP system to provide the finance team with a consolidated view of all payable accounts.
How do most companies do accounts payable
Today, for most organizations, accounts payable is a cost center and adding more staff to handle increasing volumes of supplier payments is the only way to support growth. Yet AP is often a complex process that’s filled with outdated, manual processes for communicating with suppliers, collecting tax forms, interfacing with banks, and reconciling payments.
Manual processes lead the accounting operation to more errors, increased costs, and reduced service levels. If paying suppliers matters to your company and its ongoing success, or if the company is growing beyond its manual AP processes, accounts payable can be either an enabler or an obstacle to growth and a happy vendor network. As they say on TV, “There has to be a better way.”
How Tipalti revolutionizes AP automation
Tipalti removes the manual effort and complexity that’s required to pay suppliers. Tipalti onboards suppliers and collects and processes their invoices. Tipalti’s AP automation solution then takes care of securing invoice and payment approvals, makes sure funds are available, and pays in the supplier’s chosen payment method (e.g. US ACH, Global ACH, wire transfer, check, Paypal, etc.). No more logging into individual banking portals or reconciling payments from across multiple accounts.
Tipalti takes care of communicating with suppliers, sending out automated emails regarding payment status and allowing them to update their payment information. Tipalti also collects and validates their W-9, W-8 or VAT information through a KPMG-reviewed guided interface eliminating an unnecessary hassle later. Finally, Tipalti streamlines the payment reconciliation process for a faster, more accurate financial close. Thats what we call end-to-end AP automation.
Accounts Payable Automation with One-Click Payments
In a traditional AP workflow, supplier payments may require interaction with multiple web portals and multiple banks or payment providers. Invoices need to be processed, purchase orders need to be reconciled with your accounting system, and in some cases, early payment discounts need to be applied. Payment information needs to be acquired, manually entered, and validated. Even data entry and calculating processing costs are components of the approval process for many payables departments. You may need to toggle between multiple portals to pay different countries with different payment methods. When you use a one-click payment method, this process is automated with AP software. You pay all of your vendors by simply clicking a button. Money is now sent in minutes as opposed to hours, in turn realizing real cost savings for your entire AP team.
Rather than collecting payment details by email or phone and manually entering invoice data (while keeping a clean audit trail), you can use a supplier portal that is branded to your look-and-feel, which leaves the payee within your brand experience. Your payees can now choose how payments should be made: global ACH, wires, check, PayPal, local bank transfer etc. Options are also available for your payees to choose the currencies in which they want to be paid. This makes it easy for anyone to use and minimizes the chance of errors in payment information. When your suppliers are satisfied, it leads to more business and a better reputation.
One-click payment can be offered on your web page with easy integration to make the experience seamless or through a hosted supplier portal. Payables can then be executed with ease, without all the extra work and negative cash flow implications of a drawn-out AP process.
Keeping on Top of Your Payables
Whether you are making mass payments and have a large payables staff or you dealing with the monotony of invoice processing, you need to stay on top of the information. Automation streamlines the process while features like invoice management, advanced approval workflows, OCR and two-way (or three-way) PO matching allows your finance team to focus on more strategic activities.
As soon as you make a payment, your payees are going to be notified. This allows payees to know that the money is on its way, or already available. With this service, you should notice a higher client satisfaction rate. When mass payments are received, clients no longer need to watch their bank accounts. There will be fewer phone calls and emails wondering when the payment is occurring since it can be scheduled. When payees are informed, payees are happy.
Both the payer and the payee receives notification of payment – full visibility into payment status means both parties can access the details of transactions. This can include information such as amount paid, date of the transaction, taxes that may be withheld, or fees taken out. The details will depend on the contract with your payees, the type of payment used, and other options that you choose.
Within the supplier portal, payees are required to fill out relevant tax information (W9, W8, W8BENE etc). If their personal information changes at any time, you receive notification of these updates. This allows your business to stay on track with where your clients are located or other necessary information that may be needed for tax purposes. You can also generate 1099/1046 reports if desired.
When you automate your global payables operation, you are not only streamlining the payment process. You are also creating a process that lets you easily track and reconcile where and to whom your payments are going. This makes taxes and report-generation much more efficient.
Select the right capabilities for your needs
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