How Manufacturing and Wholesale Companies Solve Supplier Payments
Cherith Aasen | Staff Accountant at RealWear
“The system is flexible for dynamically processing invoices with both two-way or three-way PO matching. That process is seamless. I can do it all in Tipalti and automatically know it’s synced back in our ERP system.”
A payables process you’ll never think about again
Automate the entire process for paying your global suppliers and contractors.
Eliminate overspending and strengthen financial controls.
Reduce the friction of making your suppliers payable
A complete whitelabeled, self-service onboarding system that’s easy to implement and intelligent.
Centralize payables operations
Tipalti makes it easy to bring accounts payable controls and execution to businesses with multiple subsidiaries and business units.
Hear from our manufacturing and wholesale customers
Their finance team was working 70 hrs/wk on AP. Now it’s down significantly with half the staff.
Tipalti makes everybody’s life easier and enables us to move away from multiple platforms.
Why trust Tipalti with your AP operation?
Eliminate Manual Processes
Manual effort can lead to partner payment errors. Dramatically reduce payment workload by 80% with self-service onboarding, automated communications, and a unified payment processing interface. You’ll also reduce payment errors and potential fraud.
Pay Suppliers Anywhere
Offer the most flexible payment options (including US ACH, wire transfer, global ACH, PayPal, prepaid debit, or paper check) to retain the best suppliers and contractors to improve your service quality, while reducing the risk of paying fraudsters. They can also be paid in their local currency.
Add Financial Controls
Ensure invoices are approved by the right signatories and payment execution is signed off by key executives. Tipalti provides deep financial controls to secure payables activities.
Effortless Tax Compliance
Don’t wait until year-end to hunt down supplier for their tax forms. Collect W-9, W-8 series, or VAT ID forms and produce submission-ready 1099 and 1042-S reports.
How Manufacturing and Wholesales Companies Use Tipalti
Suppliers login into a self-service secure web portal
- They provide identity, payment details, and tax information (e.g. W8, W9, VAT).
- Tipalti verifies payment details using over 26,000 rules.
- The portal provides updates on payment status and allows for self-service changes.
Suppliers can submit invoices directly or bills can be synced from ERP
- Suppliers can email invoices or upload them directly from the Supplier Hub web portal.
- Tipalti integrates with your ERP, performance tracking data, through the Tipalti API, or accepts a payment instruction file.
- Tipalti AI routes invoices and payment instructions to the organization’s approvers.
Payments are scheduled and sent
- Once approved, Tipalti makes sure funds exist and pays in the supplier’s chosen payment method (e.g. ACH, wire transfer, PayPal, etc.).
- No more logging into individual banking portals or reconciling payments from across multiple accounts.
- Tipalti sends the payments out through the proper banking channels.
- Tipalti alerts payees of payment status and reports any issues to them if funds don’t land.
- Payments and transaction fees are fully reported for reconciliation in real time to the ERP.
Innovation and efficiency
Tipalti offers the most comprehensive payables technology to help your
business streamline, simplify, and evolve.
Let’s get more productive
Talk to an expert and learn how you can take control of your payables.