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Matterport Overview
Industry
Software and technology
Company Size
100 – 1000
Current ERP
Netsuite
Region
United States, Global
Tipalti Products Used
AP Automation, Mass Payments
Challenge
Manual processing delayed payments and increased errors—straining relationships with both suppliers and internal employees.
Solution
Matterport implemented Tipalti Accounts Payable and Tipalti Mass Payments to automate global payment processing and approvals, integrating seamlessly with ERP, NetSuite.
Results
Matterport accelerated the monthly close process by 40% and eliminated the need to hire one additional full-time employee to manage accounts payable.
The Challenge
Manual Payment Processes Hindered Growth
Matterport, a groundbreaking spatial computing platform, is the leader in transforming millions of buildings worldwide into immersive digital twins to improve every part of the building lifecycle. To create digital twins, Matterport relied on hundreds of independent technicians to scan properties. As a result, they received thousands of invoices via email. To keep up with demand, the accounting team manually entered information into ERP, NetSuite, which would inconsistently sync with Matterport’s bank. As they scaled globally, this highly manual process significantly hindered growth. Matterport needed a solution that would automate PO matching, manage currency conversions, and streamline global payouts.
You buy a house, you rent places, you will see Matterport products. Our scanned services enable you to visualize big and small.
Julia Yeo
Director, Accounting Operations, Matterport
The Solution
Automated Global Payments With Tipalti Accounts Payable and Tipalti Mass Payments
To address these challenges, Matterport implemented Tipalti Accounts Payable and Tipalti Mass Payments. With Tipalti, invoices are automatically imported and immediately turned into bills, with amounts already preapproved by Matterport’s sales operation team. Plus, supplier relationships have greatly improved with self-service onboarding that has eliminated manual data entry and increased accuracy—which their auditors love. The automation has eliminated duplicate accruals, added the ability to fund multiple currencies, deployed thousands of payments monthly, and improved reconciliation with ERP, NetSuite.
Tipalti eliminated the manual work that was consuming all of us—that’s a huge improvement. Another big uplevel is payments. Now it’s click, fund, we’re done.
Julia Yeo
Director, Accounting Operations, Matterport
The Result
Enhanced Efficiency and Streamlined Workflows
With Tipalti, Matterport eliminated the need to hire an additional full-time employee to manage accounts payable. Automating invoice processing and payments led to a 40% acceleration in the monthly close process. The accounting team now handles thousands of payments monthly with improved accuracy and efficiency, allowing them to focus on more strategic tasks as the company continues to scale globally.
Before Tipalti, I often stepped in to help the accounting team at the transaction level because the volumes were too big. Now, I don’t need to—Tipalti can handle the volume from now on.
Julia Yeo
Director, Accounting Operations, Matterport
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