Plentific | Tipalti United Kingdom

Our tech stack is quite large for a company of our size, and it makes things a lot easier. It takes that manual burden away from us so we can concentrate on more exciting things and adding value to the business rather than day-to-day tasks.

Alun Davies

Finance Director, Plentific

Download

Plentific Overview

Industry

Software and technology

Company Size

100 – 1000

Current ERP

Netsuite

Region

United Kingdom, Global

Tipalti Products Used

AP Automation, Procurement

Challenge

Manual procurement and accounts payable workflows were time-consuming and hindered scalability.

Solution

Plentific implemented Tipalti Procurement and Tipalti Accounts Payable to automate supplier onboarding, invoice processing, and other procure-to-pay processes, seamlessly integrating with ERP, NetSuite.

Results

Plentific automated procurement and accounts payable processes to reduce workload by 90%, eliminated 108 days spent processing invoices and payments, and accelerated the monthly financial close by 23 days.

The Challenge

Manual Processes Impeded Efficiency and Growth

Plentific is pioneering real-time property operations with an end-to-end solution that seamlessly connects owners, operators, service providers, and tenants on a single platform. As Plentific grew, the finance team wanted to be more than just back-office support. With paying out 200 monthly invoices in 21 countries, the finance team was completely embroiled in manual work. They were using a manual PO process managed via email and deploying payment runs once every two weeks, which took two to three days to complete. The vast majority of the team’s time was spent managing day-to-day tasks. But, as the business expanded to four global entities with contractors worldwide, Plentific needed to implement a finance automation solution that could handle their complex workflows.

By using our software, you can manage your interim process with multiple different partners and move objects dynamically, which means that it’s a lot more efficient. Ultimately, if it’s more efficient, it’s a lot less cost—effective software will pay for itself.

Alun Davies

Finance Director, Plentific

The Solution

Automated Procure-to-Pay Workflows With Tipalti Procurement and Tipalti Accounts Payable

With Tipalti Procurement and Tipalti Accounts Payable, Plentific has transformed its financial behavior. Spend management controls have been implemented where invoices over £500 are not accepted unless the PO has previously been approved—ensuring complete transparency in their financial transactions. With Tipalti, Plentific automated the entire procure-to-pay process, implemented a self-service supplier portal, adopted Tipalti Card to consolidate spend, and enhanced visibility with ERP, NetSuite.

Getting Tipalti in was one of the first things I did because invoices and payments were really time-consuming. I wanted all accounting in one system. I didn’t want to have a German accounts payable software and a US accounts payable software, so I needed something that could work in every one of those jurisdictions—Tipalti handles that.

Alun Davies

Finance Director, Plentific

The Result

Significant Efficiency Gains and Increased Strategic Focus

By automating procurement and AP processes with Tipalti, Plentific achieved a 90% reduction in manual workload, eliminating 108 days previously spent on processing invoices and payments. The monthly financial close was accelerated by 23 days, allowing the finance team to focus on strategic decision-making and support the company’s growth initiatives. With Tipalti Plentific closes its month-end on the first working day of the month, while accounts payable within NetSuite is locked down three days prior. Now, Plentific can trust in their procure-to-pay process and know there’s no risk from a financial perspective.

Our tech stack is quite large for a company of our size, and it makes things a lot easier. It takes that manual burden away from us so we can concentrate on more exciting things and adding value to the business rather than day-to-day tasks.

Alun Davies

Finance Director, Plentific