For ecommerce businesses, profitability and lean operations are key to scaling their revenue and ultimate success. It’s a hyper competitive space where every you are always a click away from losing a customer to another vendor so you need to maximize every transaction. In addition, you need to attract and maintain unique, quality suppliers. In short, you need to build efficiently and maintain a reputation for reliable payments.
Lean ecommerce operations and reliable payments start with automating each step of the supplier interaction including:
- Onboarding suppliers efficiently by collecting their payment and tax details.
- Enhancing self-service with the ability to view payment status and upload invoices.
- Streamlining supplier communications with automated notifications around the payment workflow.
- Supporting multiple payment methods, optimized to the various geographies of your suppliers – PayPal, wire transfer, ACH, check, e-check or global ACH, prepaid debit cards, etc.
- Provide the convenience of paying suppliers in local currency.
- Reconciling payment data with ERP and general ledger accounting.
Hundreds of supplier payments to complete each month; satisfying payment demands from suppliers from all over the world; dealing with 3 or 4 banking institutions every time supplier payments are made; overloaded accounts payable staff handling hundreds of invoices, rejected payouts, ensuring tax compliance. If this sounds familiar, the solution is here. Tipalti understands ecommerce companies and can help your organization scale its revenue potential.
Tipalti’s enterprise-class payout platform addresses these needs via a very simple interface that hides all the complexities, ensures the correct information is gathered from suppliers, and even communicates on your behalf with payees when payments are made or if information is missing.
The Tipalti solution is completely white labeled and appears as part of your marketplace website, maintaining your brand, while strengthening your relationship with suppliers.
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