Meet the company: Tipalti - global payables automation
In Brief
Founded: 2010
CEO: Chen Amit (Co-Founder)
Headquartered: San Mateo, California
Website: Tipalti
Co-founded in 2010 by Chen Amit and Oren Zeev, Tipalti is ‘the only global payables automation solution to streamline all phases of the AP and payment management workflow in one holistic cloud platform’.
The innovative company harness advanced technologies including automation and the cloud to make the process of managing entire supplier payments operations for accounts payable departments painless.
Tipalti’s solution addresses a range of functions including supplier onboarding and vetting; tax and regulatory compliance; invoice processing; payments to suppliers around the world with a wide range of payment methods; supplier payment status communications; and closing the loop with payment reconciliation and reporting.
Like-minded, innovative companies are adopting Tipalti’s solution to eliminate up to 80% of their supplier payment workload. By doing so, organisations can focus on efficiently scaling their business; strengthening their financial and compliance controls; and enhancing the partner payment experience.
Tipalti currently works with over 1,500 customers including Duolingo, Roblox, Amazon Twitch, and ironSource to enhance their global supplier payment operations.
“Tipalti prioritises efficiency across an end-to-end global payables workflow and supports AP and payment management in one cloud platform—helping finance scale and adapt to their business’ changing needs,” said Kevin Permenter, Research Manager at Enterprise Applications.
Benefits of Tipalti’s solution:
- Eliminate financial and compliance risk.
- Reduce the workload by up to 80%.
- Scale rapidly without the need for more staff.
- Attract and retain best partners.
- Accelerate quarter-end and year-end financial close by 25%.
Who is Chem Amit?
With a career spanning over 20 years, Chem Amit is a veteran high tech executive and repeat entrepreneur. Amit has a BSc in computers Engineering from the Israel Institute of Technology, and an MBA from INSEAD.
Amit co-founded Tipalti with Orez Zeev with a vision to transform global payables with true, end-to-end automation, removing the pains and risks associated with paying suppliers. Amit loves most to hear the positive response from his customers.
Who is Oren Zeev?
Believing in good Karma, Oren Zeev is a partner at Orens Capital and Zeev Ventures. Zeev has extensive experience in investing in technology companies over the past decade with a focus on internet applications and digital media.
“I find that the more I do for others, the more it returns to me in ways I could not have imagined. I believe that my success as an investor [...] is a function of (i) luck (ii) focus on a limited number of companies (iii) always putting the interests of the portfolio companies first, ahead of any other consideration,” said Zeev.