Tipalti Enhances NetSuite Integration with Touchless Invoice Processing
Fintech Innovator Tipalti and Cloud ERP Leader Combine to Streamline their Clients’ Entire Accounts Payable Workflow
San Mateo, CA, April 25, 2017 – Tipalti, the leading supplier payments automation platform, has announced enhancements to its “Built for NetSuite” integration with NetSuite, adding integration with Tipalti’s invoice management module to deliver touchless invoice processing for NetSuite clients. The enhanced integration allows NetSuite clients to streamline their entire end-to-end accounts payable and supplier payments workflow, from supplier onboarding and vetting, to AP tax and regulatory compliance, invoice management, global suppliers, supplier payment communications, and payment reconciliation and AP financial reporting.
Front and center of this integration release lies Tipalti’s new invoice management capability, which helps NetSuite customers automate their invoice collection processes, automatically scanning inbound invoices electronically, extracting invoice details for processing, and then triggering multi-step organizational approvals, while syncing everything back into NetSuite. This integration includes support of digital Optical Character Recognition (OCR) technology that uses Artificial Intelligence to learn the client’s invoice behavior, constantly improving touchless invoice processing accuracy rates and streamlining approval routing and GL coding over time.
The new integration provides businesses with an entirely holistic approach to AP and supplier payment management, with clients experiencing an 80% reduction in total time finance departments spend maintaining and overseeing their accounts payable and supplier payments workload.
“Tipalti is the only end-to-end platform that is able to automate the entire global supplier payments operation with the global efficiency and financial compliance that NetSuite customers demand,” says Chen Amit, CEO and Co-founder at Tipalti. “Any CFO that is still using manual processes and legacy banking infrastructure to manage accounts payable is severely limiting their finance organization’s ability to scale efficiently. Outdated disconnected AP processes put their company at risk of AP fraud, audit failures and tax and regulatory fines and penalties. It is time for AP to modernize so that finance can start making true strategic business impact.”
Tipalti will also be sponsoring NetSuite SuiteWorld in Las Vegas, Nevada from April 24-27. Finance leads are invited to get a complimentary demonstration of Tipalti’s “Built for NetSuite” integration at Booth 735.