Tipalti’s Automated Mass Payment Platform Debuts New Invoicing Module
SaaS System Streamlines Invoicing to Help Payers Comply with Global Invoice Requirements
Tipalti, the online automated global mass payment platform that makes it fast, easy and inexpensive to send payments to any vendor in 196 countries, today announced the launch of a new invoicing module. By using the new module, payers in countries requiring an invoice prior to funds disbursement to content providers, affiliates and partners can now easily comply with these local regulations.
What was once a very labor-intensive process – waiting for invoices, reconciling invoices with accounts payable, etc. – is now completely automated
Companies requiring payees to present invoices prior to making payments are currently burdened by the need to collect thousands of invoices and then reconcile the amounts on each with the expenses recorded internally to ensure a matching amount. Whether invoices are collected via paper or electronically, it is a burdensome process for accounts-payable departments, particularly at companies making mass payments.
Tipalti’s new invoicing module makes the process fast and easy. It completely automates the process, removing any manual intervention. With a single operation, amounts due to payees are captured, and payee invoices are automatically generated, providing the payer with the necessary documentation to initiate payments. The invoicing module is integrated with Tipalti’s payment system, so invoices can be paid immediately when submitted.
“The new invoicing module is a game-changer,” said Tipalti founder and CEO Chen Amit. “What was once a very labor-intensive process – waiting for invoices, reconciling invoices with accounts payable, etc. – is now completely automated with Tipalti.”
Payers can use Tipalti by integrating a single line of code into their payee registration workflow. This enables payees to enter their preferred currency and payment method and agree to pay processing fees. Tipalti handles ACH/direct deposit, global-ACH/international local bank transfer, paper check, wire transfer, PayPal, prepaid debit card or cash payments via Western Union. The system incorporates local regulatory information to ensure payments are received by each vendor quickly and at the minimum cost.