How Tipalti is Revolutionising Procurement Operations

Founded in 2010, Tipalti has quickly become a leading financial technology firm, providing accounts payable, procurement and global payments automation software for businesses.

The US organisation is helping businesses to move from ad-hoc emails, spreadsheets and tickets to modern procurement operations with a powerful, easy-to-use solution that manages all purchases and supplier onboarding while enhancing control over spend management.

Tipalti: Enhancing spend management

Tipalti's software features intuitive procurement intake forms to capture purchase intent early, rule-based approval flows for spending control, streamlining purchase and supplier onboarding processes. All this creates enhancing control over spend management, and automatic generation of purchase orders (PO) synced with ERP systems upon approval.

The suite of solutions allows users to do the following:

• Simplify employee request process: With simple, predefined custom intake forms, employees can easily submit purchase and supplier related requests. This helps drive employee adoption and ensures you collect all critical information upfront, including employee needs, amount, budget items, and supplier data.
• Automate approvals with rule-based routing: Move approvals out of emails, tickets, and spreadsheets. Leverage automated approval routing to eliminate bottlenecks and reduce manual work. Tipalti integrates with over 30 leading ticketing systems, including Asana and Zendesk, to streamline approval flows across teams and shorten approval time.
• Eliminate manual supplier onboarding workflows: Custom, self-service registration forms make onboarding suppliers quick and frictionless, including collecting contact, financial, and contractual details.
• Effortlessly manage every supplier contract: Manage contract details and gain unparalleled visibility into renewal alerts and statuses within purchase requests.
• Automatically generate purchase orders: Eliminate the need for manual data entry and reduce errors. Tipalti Procurement creates POs automatically once a purchase request is approved.
• Never stitch together spreadsheets or integrations again: Seamlessly integrate detailed, accurate transaction and reconciliation reports to ensure faster financial close. Tipalti’s pre-built integrations with leading ERPs, HRIS, ticketing systems, Amazon and Slack power a seamless approval process and ensure relevant data syncs automatically.

Jumio and Cybereason benefit from Tipalti solutions

With a track record of 98% customer satisfaction, more than five million suppliers, US$51bn in annual remittance, and a 99% customer retention rate, Tipalti has developed a strong reputation in the industry. 

“The best practice is to have a purchase order first – the requisition needs to be approved before we receive the invoice," says Henry Zhuang. Accounting Manager at Tipalti user, Jumio. "After we have a valid PO, we wait for the supplier to send us the invoice and then we can match it to the PO and make the payment. Tipalti has automated the entire process for us."

Tomer Gamlielle-Druyan, VP Global Supply Management at Cybereason, another beneficiary, adds: “It was important to onboard our many users to a new process quickly and,  after seeing Tipalti’s capabilities, we knew it was the best solution for us.”

Continuing to grow its reputation

In the first half of 2023, Tipalti processed more than US$50bn in payments volume annually, while expanding its customer base to more than 3,500, marking a 41% year-over-year growth.

Key additions to its clientele include Jitterbit, Access Genetics, Ingenio and Spitfire Audio, solidifying its position in the global fintech sector.

Since entering the European market in 2021, Tipalti has continued to strengthen its global presence, signing more than 250 customers across Europe and contributing significantly to its partner ecosystem. The company was granted an Electronic Money Institution (EMI) licence from De Nederlandsche Bank (DNB), allowing it to offer a full spectrum of payments solutions in key European markets.

Tipalti's Alliances Program has also seen remarkable growth, delivering 300% year-over-year channel business growth. The programme boasts more than 570 partners worldwide, with notable additions such as RSM and Eide Bailly.

“We're incredibly proud of the exceptional growth and achievements Tipalti has accomplished already,” comments Chen Amit, CEO and Co-Founder of Tipalti.​​​​​​​

“Our team’s dedication, innovative spirit and commitment to our customers have been instrumental in driving our success on a global scale. We are excited about the future and will continue revolutionising finance operations for businesses worldwide through our unparalleled automation solutions.”

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