Invoice Management & Processing

Supplier invoice management is one of the biggest pains for accounts payable organizations. Some companies have a team of people whose sole job is to accept and key in invoices and get approvals for payment from various stakeholders in the company. That’s because invoices come from all over (mail, email, fax) and in various formats and structures. Touchless, paperless invoice processing could be an answer, but not every supplier works that way.

Tipalti manages invoice processing to reduce AP workload, increase payment accuracy, and strengthen fraud and financial controls. And because Tipalti is tied to the actual payment process, the platform provides real-time payment reconciliation directly to your ERP or accounting system, and manages communications to suppliers on your behalf automatically.

Easy Invoice Import

Suppliers can submit invoices through email or by uploading invoices from a secured supplier portal – the same branded portal they’d use to update their contact, payment, and tax details. Additionally, AP staff can also upload individual invoices from the Tipalti payer dashboard where they manage payment execution.

Touchless Invoice Management Processing

Once in the system, invoice data entry is eliminated through digital Optical Character Recognition (OCR) capability. With OCR, once Tipalti automatically scans your invoices into the system, the details from those invoices are extracted and pre-populated in the invoice module. Your finance staff no longer has to spend time manually populating data from your invoices into your systems for approval and processing. The invoice management capability has adaptive learning built-in, so as any values are corrected, the system will intelligently recognize the changes and apply that logic to future invoices to constantly improve performance over time.

Accounts payable staff can easily change invoice details from the payer dashboard and process for approvals. Tipalti allows the finance team to have multiple invoice approvers and manages the approval workflow. The system triggers automatic emails to buyers and approvers so they can approve from any device, at any time, from anywhere, without having to log in to Tipalti.

The payer can easily see what bills are available, including which are pending review, pending AP action, pending payment, or outstanding. For inbound invoices without a payee in the system, the payer can easily add a new payee or invite a supplier to register on the portal. Tipalti also specializes in processing multiple invoices in a single workflow and even allows users to upload invoices in batch for processing, approval, and payment. Payment is also held automatically if funds do not exist.

Automated Supplier Communications

Invoice and payment status is communicated to the supplier through each step with a branded email notification or the supplier can log on anytime to the portal to view the invoice status and history. Automated supplier communications and the self-service portal reduce the numerous occasions where the AP department is answering payment requests from suppliers.

Seamless, Real-Time Reconciliation

Once payments are made, the results are updated in both Tipalti as well as the ERP. That means faster, more accurate information around the company’s cash flow and greater assurance of accounting compliance. It also means less spreadsheet work for the finance team.

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