Accounts Payable (AP) Automation is a misnomer in the industry. Almost all existing products focus solely on invoice management. However, there is an entire chain of events that happens after invoices are approved that need to be reckoned with and that centers around the actual supplier communication and payment processes.
It shouldn’t be called “AP automation,” if one isn’t automating payments. Much of the friction occurs after an invoice is approved and ready to pay. It involves managing bank accounts, gathering supplier payment details, logging into banking portals to send payment, communicating payment status to payees, and resolving issues around failed payments.
Complete the AP Cycle
Tipalti takes a comprehensive approach to AP automation that completes the cycle of bill-to-pay-to-reconciliation. The platform solidifies interaction with both banks and payees to provide end-to-end control and streamlines the entire AP operation.
- Integrate directly with your ERP or accounting system
- Manage and secure bank interfaces including ACHs, wire transfers, paper checks, and local bank transfers overseas (international ACH) in one dashboard
- Reduce payment errors with supplier onboarding and self-service
- Eliminated manual effort so AP can focus on more strategic directives
- Schedule payment instructions for a future date
- Control fee schedule structure and enable rolling the transaction cost onto payee
- Enable multiple payment thresholds to reduce or increase transaction volume