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Art of Problem Solving Overview
Industry
Business services
Company Size
100 ‑ 1000
Region
United States
Tipalti Products Used
Mass Payments
Challenge
Manual contractor payouts were cumbersome and open to human error, which delayed the monthly close process.
Solution
Art of Problem Solving implemented Tipalti Mass Payments to automate contractor payouts and streamline finance operations.
Results
Art of Problem Solving eliminated five days of manual payment processing and reduced monthly close time by 20 days.
The Challenge
Inefficient, Manual Contractor Payouts
Art of Problem Solving (AoPS), an online education and services company, was experiencing significant growth. With its curriculum spreading to physical classrooms and learning centers in California, Maryland, New Jersey, North Carolina, Virginia, and Washington, AoPS was growing exponentially, but it was starting to see inefficiencies in its payouts process. Managing W-8BENs and updating payment information with international contractors took up the finance team’s entire workday.
Our monthly close was slow because we couldn’t record contractor expenses until we could figure out the payments. That was a 20-day process. At the same time, if we wanted to offboard a contractor, there wasn’t a good way to ensure they didn’t submit and get paid.
Jessica Hardy
VP of Finance, Art of Problem Solving
The Solution
Automated Contractor Payouts With Tipalti Mass Payments
AoPS implemented Tipalti Mass Payments to enable the company to automate contractor payouts, streamline tax compliance through the self-onboarding of partners and contractors, and ensure timely and accurate disbursements. With Tipalti, AoPS took conscious steps to maintain visibility into its performance and financial operations.
With Tipalti, we give our contractors until day five to submit their time, and then we pay everybody on the sixth, which takes a few minutes. It has been fantastic.
Jessica Hardy
VP of Finance, Art of Problem Solving
The Result
Significant Improvements in Payout Processing
By implementing Tipalti, AoPS eliminated five days of manual work associated with contractor payouts and reduced the monthly close process by 20 days. Tipalti ensured timely payments to contractors and improved overall financial operations, allowing the finance team to focus on strategic initiatives.
Now, with Tipalti, payments flow smoothly. It took four to five business days for one person to take care of all the contractor payments. And now it takes me an hour.
Jessica Hardy
VP of Finance, Art of Problem Solving
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