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ITB-MED Overview
Industry
Healthcare
Company Size
Sub 100
Current ERP
Netsuite
Region
Europe
Tipalti Products Used
Accounts Payable, Procurement
Challenge
Scaling globally with manual accounts payable processes caused inefficiencies, compliance risks, and complicated cross-border invoice management for ITB-Med’s lean finance team.
Solution
Tipalti delivered a single, integrated accounts payable and procurement platform, automating supplier onboarding, invoice management, procurement, and payment workflows with a seamless integration with ERP, NetSuite.
Results
With Tipalti, ITB-Med saved over 500 hours annually, reduced manual errors by 90%, and cut its month-end close from 30 days to just 15 without adding finance headcount.
The Challenge
Fragmented Finance Processes and Rapid Global Growth
As a MedTech startup operating in a high-growth environment, ITB-Med faced unique financial challenges. With increasing expenses, the company needed a robust system to manage an expanding volume of invoices from both domestic and international suppliers. However, their reliance on fragmented workflows—spreadsheets, emails, and NetSuite add-ons—created inefficiencies and risks.
Attempting to build an internal purchase order system in NetSuite proved both expensive and cumbersome, leaving ITB-Med exposed to manual data entry errors, inconsistent approvals, and audit vulnerabilities. The complexity of managing cross-border payments and US tax compliance further strained their lean finance team.
Before Tipalti, we had some challenges. The solution we had was fragmented across various tools. We spent a considerable amount of time with consultants trying to build an approval system. Still, there was no single system, which was a big risk. The cost of continuing with the old way was too high, both in terms of time, morale, and supplier trust, with a risk of delays, errors, and audit challenges.
Anna-Karin Lindblad
Associate Director of Finance and Treasury, ITB-MED
The Solution
Centralized AP and Procurement in One Platform
ITB-Med implemented Tipalti to centralize and streamline its accounts payable and procurement processes, integrating supplier onboarding, invoice management, approvals, and cross-border payments into a unified workflow. By leveraging Tipalti’s seamless integration with NetSuite, ITB-Med eliminated manual data entry, automated procurement tasks, and ensured compliance across multiple jurisdictions—all without adding consultant hours or finance headcount.
To address limitations with NetSuite’s procurement capabilities, ITB-Med additionally expanded its use of Tipalti to include the procurement module. This comprehensive automation enabled ITB-Med to standardize workflows, reduce approval delays, and shift its focus from resolving invoice errors to strategic finance initiatives—creating a scalable and efficient process across all departments.
The [Tipalti] implementation process went really smoothly and collaboratively. We went live in three months, and the integration with NetSuite was seamless. We decided to add the procurement module in Tipalti because we had challenges and limitations with NetSuite, specifically in adding bills, building the approval flow within departments, and linking bills to purchase orders. Tipalti proved much more flexible, working better for us in the end. We don't need consultants to make changes anymore—we can do that ourselves in the system.
Anna-Karin Lindblad
Associate Director of Finance and Treasury, ITB-MED
The Result
Scalable Efficiency and Global Compliance
By adopting Tipalti, ITB-Med transformed its financial operations, achieving unprecedented scalability and compliance while maintaining a lean finance team. The automation of supplier onboarding, invoice processing, and global payments enabled ITB-Med to save over 500 hours annually, reduce manual errors by 90%, and cut its month-end close from 30 days to just 15.
This streamlined, automated process allowed ITB-Med to accelerate supplier onboarding from two weeks to under three days, which enhanced vendor relationships and ensured cross-border compliance. Plus, Tipalti’s integration with NetSuite provided real-time visibility and audit readiness across all international jurisdictions.
One result that I’m most proud of is that we scaled operations significantly without needing to expand the AP team, allowing us to stay lean while supporting growth. Tipalti has made our team think differently about scaling finance, because it gives us confidence that we can support business growth without adding headcount at the same pace. We now think strategically rather than just trying to keep up.
Anna-Karin Lindblad
Associate Director of Finance and Treasury, ITB-MED
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