Jumio Fights Fraud By Delivering a Smarter Identity Verification Experience

Know Your Customers

With a mission to provide fast and accurate verifications, global coverage, and more secure authentication, Jumio encourages its team to “think more and do less.” With this goal in mind, Jumio wanted to automate as many processes as possible so that they could focus their efforts on the strategic work that would directly impact their customers.

The best practice is to have a purchase order first—the requisition needs to be approved before we receive the invoice. After we have a valid PO, we wait for the supplier to send us the invoice, and then we can match it to the PO and then make the payment. Tipalti has automated the entire process for us.

Henry Zhuang | Accounting Manager, Jumio

Improving Trust, Digitally

A multi-entity organization across seven international offices, Jumio was scaling globally. But even though they were hyper-focused on technology innovation externally, their internal finance team was stuck in a manual operational cycle. To support its rapid growth, Jumio was looking for a solution that could standardize its procurement and accounts payable processes.

• Automate Purchase Order & Invoice Processing
• Implement a Self-Service Supplier Onboarding Model
• Accelerate the Month-End Close Process
• Integrate with ERP, NetSuite

The Next Level of Finance

Staying on budget was critical, and the finance team was tasked with finding a better way to manage increasing purchase order (PO) requests. An intricate process between finance and accounting, manual PO matching was taking too much time and causing bottlenecks in the approval workflow. Plus, Jumio was paying exorbitant fees for intercompany transfers.

The most challenging piece is making sure all the POs are in the right place. Manually cleaning up and adjusting takes too much of our time. There are different entities and different countries—the tax codes are different, and the regulatory requirements are different.

Henry Zhuang | Accounting Manager, Jumio

An Intelligent Solution

To eliminate the manual PO matching process, Jumio implemented Tipalti Procurement, an integrated procure-to-pay finance automation solution. Tipalti automated the monitoring of pending POs and invoices while identifying any potential problems or mismatches—saving the Jumio finance team a significant amount of time.

• Automated PO Matching & Invoice Management
• Automatically Captured Tax & Payment Data through a Supplier Portal
• Accelerated Reconciliation Time with an Improved Accrual Process
• Seamlessly Integrated NetSuite & Tipalti AP Aging Reports