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Tipalti’s invoice management system provides a complete and integrated approach for accounts payable:
- Capture Supplier Invoices from Email or Web Portal
- Reduce Data Entry with OCR and advanced data extraction
- Match POs to invoices and receipts
- Route Approvals Intelligently
- Schedule Batch Invoices for Payment
- Reconcile Supplier Payments Automatically
The new invoice text recognition feature and the overall AP software has been really valuable for our finance organization.
Jennifer Gastorf, VP and COO, TradeHelm
Revamp your legacy invoice process with automated invoice capture, approvals, payments, and reconciliation in a single end-to-end AP platform to boost efficiency and standardization. This is REAL AP Automation done right. Tipalti doesn’t end with invoice processing. It enables full payment and reconciliation processes to complete the complex, manual business cycle.
Effortless Invoice Import
To centralize invoice receipt, suppliers can submit invoices through email or upload directly to their secure portal, and then Tipalti automatically scans the invoices into the system for processing. AP staff can also upload individual invoices and manage the complete lifecycle, from payment execution through to reconciliation, from the Tipalti AP Hub.
Built-In OCR Scanning
Optical Character Recognition (OCR) technology eliminates tedious invoice data entry. Once invoices are scanned into the system, details are automatically extracted and pre-populated. Tipalti intelligently recognizes any override changes and then applies that logic to future invoices to constantly improve performance. Then, a second layer of invoice data extraction after OCR ensures invoice data is accurately captured.
Coding & Approval Prediction
Tipalti uses smart logic and machine learning for additional bill data prediction. Business rules assign bill approvers, bill level coding such as departments and accounts, and payer entity. Your finance team benefits from substantial time savings and efficiencies with touchless straight-through processing.
Automated PO Matching
You can configure rules to determine if inbound invoices should be matched based on your company’s policies. Tipalti supports 2-way and 3-way matching for headers and line levels and easily handles mismatches with tolerance ranges. If an invoice can’t be auto-matched based on the tolerance thresholds, additional exception approvals are required. All rules are customized to align with your company’s needs.
Efficient Multi-Tier Approvals
Tipalti allows for unlimited invoice approvers and configurable workflows through the AP Hub to strengthen your internal controls. Once an invoice is ready for approval, Tipalti triggers automated routing emails for in-mail or online approval, eliminating the lengthy process of manually chasing them down. Approvers have visibility into invoices that are pending review, AP action, or payment, as well as outstanding invoices, and they can even invite new suppliers to register on the portal directly from the approval email.
Unified with Payment Processing
Whether you’re paying multiple invoices in a single workflow or in batch, Tipalti can handle it. To enforce segregation of duties, separate approvals exist for invoices and the actual movement of cash, and supplier payments are automatically held if adequate funds aren’t available. With unparalleled efficiency and visibility across the entire supplier invoice process, your AP team can now take advantage of early payment discounts to generate revenue for your business.
Automated Supplier Communications
Automated communications ensure suppliers are informed throughout every step of the invoice and payment process – from invoice receipt, to approval, and payment. Status notifications via email and online self-service access to invoice and payment history drastically cuts AP time spent on inquiries and resolution, boosting productivity and reducing overall invoice processing costs.
Seamless, Real-Time Reconciliation & ERP Integration
Because invoices are tied to the actual payment process, Tipalti delivers real-time payment reconciliation directly to your ERP after payments are made, without any need for finance to tie together countless spreadsheets. Faster, more accurate visibility drives better business decisions, while audit trails maintain a deep history of user and supplier activity.