Tipalti Launches Automated Supplier Payment System
New Mass Payment Solution Revolutionizes The Way Accounts Payable Departments Handle Supplier Payments: Helps Migration to Electronic Payments; Reduces Workload; Eliminates Rejected Payments; Saves Money
AGOURA HILLS, Calif., – Tipalti, a provider of enterprise-class automated pay-out systems, has launched Supplier Portal, a new service purpose built for Accounts Payable (AP) departments to automate payments to any supplier, vendor, contractor, or employee. Tipalti is launching Supplier Portal with charter clients Pulsepoint.
A supplier payments solution refers to the way companies or businesses manage their payments to third-party vendors or suppliers. Supplier payment solutions can help businesses streamline purchasing methods, keep payment records organized, and automate vendor payments.
With the new Supplier Portal, any company can automate the payments for raw materials, rent, utilities, office supplies, independent contractors, and employees. The Supplier Portal allows the payer to invite its suppliers to a web-dashboard that prompts the suppliers to chose the preferred method by which they will be paid and enter any banking information associated with the selected method. The Supplier Portal also collects necessary tax forms (such as W9) from the supplier. The payer can also add suppliers and their preferred payment method on their behalf.
“Reducing processing time and increasing visibility has been Tipalti’s most valuable impact on Pulsepoint’s business. The reduction in time and paperwork, combined with the reduced chance for errors has greatly improved our publisher payment processes”, said Leah Rogerson, VP of Finance at Pulsepoint. “Seeing the efficiencies gained by using Tipalti for publisher payments, we are now expanding the use of the system to our traditional Accounts Payable vendor payments.”
“Accounts Payable departments can gain tremendous efficiencies by migrating their suppliers to electronic payment methods, but this typically places a significant burden on operations and IT resources,” said Chen Amit, founder and CEO of Tipalti. “The Supplier Portal offers the AP department a simple and effortless path to full automation of supplier payments, helps migrate suppliers to electronic payments, eliminates rejected payments, and reduces workload. Using Tipalti’s cloud-based system circumvents the need for costly infrastructure changes and requires only minimal involvement by the payer’s IT department.”
