How Tipalti and Tropic are Streamlining Procure-to-Pay

Tropic and Tipalti have joined forces in a bid to offer a more streamlined procure-to-pay (P2P) system to clients.

The partnership is set to bring greater efficiency and speed to procurement processes, helping practitioners feel confident in their decision-making.

Through the unified, end-to-end capabilities of Tipalti and the supplier intelligence database of Tropic, businesses no longer need to choose between smart decision-making and efficiency.

Combining procurement specialities

Tipalti was first launched with the aim of transforming outdated and fragmented finance operations into modernised, time efficient and partner-first solutions. Fast-forward 15 years and it is the platform of choice for thousands of the fastest-growing companies in the world, due to its payables automation solution. 

Tipalti's focus is on automating mundane and repetitive tasks, enabling finance teams to innovate and scale their businesses for significant growth. It allows teams to shape strategic direction and boosts efficiency through the simplification of complex and manual work. 

The end-to-end platform offers a comprehensive selection of finance automation solutions across procurement, AP, supplier management, employee expenses and more. The fintech leader has helped more than 5,000 companies securely and efficiently pay millions of suppliers and payees across more than 200 countries and territories in 120 currencies. 

Tropic, meanwhile, combines efficiency with smart payments. An intelligent procurement partner, it uses supplier intelligence and clear action plans to help companies save on new purchases and renewals. Software is purpose-built to help finance and procurement teams save time, cut costs and reduce spend risks.

By using Tropic, teams ensure visibility throughout their processes, with automation allowing teams to make smarter purchasing decisions. It is used by more than 500 teams to transform SaaS spend management and procurement orchestration.

News of Tipalti and Tropic's partnership was shared on LinkedIn by Justin Etkin, Co-Founder and COO at Tropic.

"Finance teams are tired of spending their days manually jumping between systems," he said. "Optimise a contract in one tool; process payments in another; track spend in a third. The handoffs are tedious, the data doesn't sync and everyone's frustrated.

"Tropic connected with Tipalti brings clarity to the chaos."

Efficiency and resilience

Tipalti's automation of repetitive tasks alongside Tropic's unbeatable supplier intelligence means procurement teams stand to gain valuable insights and oven-ready solutions. Tipalti's ability to reduce spend, mitigate compliance risk and automate approval routing becomes even more accurate thanks to Tropic's unbiased software supplier intelligence.

"Now, when you optimise a software contract using Tropic's US$15bn+ in proprietary supplier intelligence, that smart decision flows automatically into Tipalti for payment execution," added Justin. "No manual anything, no data entry, no wondering if your savings are actually getting realised."

Amid widespread turbulence, some businesses have been forced to choose between efficiency and resilience, especially when tech solutions are fragmented. The partnership between Tipalti and Tropic addresses that issue, bringing together two solutions that provide different support systems.

Justin continued: "Companies shouldn't have to choose between smart purchasing and efficient payments. Now they don't have to. We want finance teams to focus on strategy instead of busywork; to deliver savings rather than drown in administrative labour. 

"[I'm] grateful to the Tipalti team for being awesome partners in continuing to make this vision a reality."

Customer satisfaction

Through aligning the efficient end-to-end transformation services of Tipalti with the supplier intelligence capabilities of Tropic, businesses are already seeing new levels of risk mitigation and productivity. 

"Using Tropic alongside Tipalti has streamlined our procure-to-pay process from end-to-end," adds Karl McGregor, Financial Systems Manager at HUMAN. "Tropic keeps our vendor documents secure while its workflows give our back-office teams early visibility into each request.

"This ensures proper due diligence and budget alignment happen upfront. By the time invoices flow into Tipalti for payment approvals, the groundwork is already complete. Using both Tropic and Tipalti gives us the speed, oversight and confidence we need in every purchase."

Tipalti and Tropic's partnership is levelling up procurement processes, resulting in more informed decisions at a higher degree of efficiency and speed, meaning no sacrifices need to be made for procurement transformation.