Sezzle’s Financial Operations Sizzle with Tipalti
- Saved 1,700 hours a year on invoice processing & global payments
- Eliminated 75% of accounts payable workload and prevented the need to hire additional finance staff
- Streamlined vendor onboarding and supplier management
HQ Minneapolis, MN
Customer Since 2020
Industry Financial Services
There is no manual work at the end of the month with our seamless ERP integration, and payments flow automatically.
Shirley comes to the social distance picnic with a pair of flashy ostrich boots. It’s quarantine; we’ve all made some questionable decisions on our appearances. But how did your friend manage to get their hands on $1,000 ostrich boots? By making four interest-free down payments through Sezzle.
This #1-shopper-rated payment company has 34,000 e-commerce merchants and counting. Their accelerated success has led the company to grow from 150 to 300 employees in one year, with new offices opening in Germany and India.
Sean Doheny, Sezzle’s Treasury manager, describes his finance team as “lean and mean.” The obstacle? Doheny didn’t have enough hours in the day to complete the toppling manual work. He handled all vendor payouts and communications. At times, he even translated invoices into German. The reconciliation process took eight days and was prone to human error. The onboarding process included disparate, unorganized systems.
“Vendor onboarding was completely manual—collecting tax forms and getting payment details. We’d have duplicate payments—an invoice would get sent twice, and we’d overpay. I’d receive a bill and ask, ‘Who is the vendor?’ The bill would be unread in someone’s inbox.”
Doheny waited for department managers to review and approve bills, a process that moved as slow as molasses.
“We hired another accountant who spent 20 hours a week chasing down approvals.”
When Doheny finally got to the payment process, he had to export files from the ERP system, Intacct, build ACH files for the company’s different banking portals, and then made the payments.
To “financially empower the next generation of change-makers,” Sezzle started internally by enlisting Tipalti for its end-to-end accounts payable process.
“Tipalti facilitated vendor onboarding. The solution steps right in to collect forms and make payments,” Doheny explains.
“I like scheduling payments through Tipalti. I pay the bills and fund the account. There are no manual modifications at the end of the month with our seamless ERP integration, and payments flow automatically.”
As for the Intacct and Tipalti integration?
“It was painless. The vendor records write over and the bills write over seamlessly.” Gone are the eight days of painful reconciliation—Tipalti handles the process automatically.”
By modernizing Sezzle’s global payment operations, Doheny doesn’t need to hire additional headcount, and his workload time has been reduced by 75%. Now, Doheny focuses on more impactful projects, such as forecasting financial requirements, hedging currency exchange risk, and deepening their relationship with partners.
“It’s our mission to maintain financial efficiency as our business scales. We don’t need more finance team members; we need more people to make partnerships and make sales. And that’s what we set out to do.”