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Tipalti Review 2023 Pricing

Our Verdict

Ever since discovering Tipalti, our payment processing times have decreased significantly from 2 weeks to 2 days. As a small business owner, it allows me to streamline my payment processes and manage supplier payments more efficiently. That means I can deal with other issues such as supplier onboarding or international payments. Tipalti has helped me improve payment efficiency and reduce manual workload, saving me valuable time and resources. In fact, thanks to this payment processor, I have also saved in personnel and transaction cost fees. So, if you are looking for a trustworthy payment processing provider, Tipalti will enable companies to improve their payment efficiency and gain greater visibility into your payment data, making it a valuable tool for managing supplier bills. Ideal for both larger and small businesses.

Pros

  • User interface is uncluttered
  • Phone contact available
  • Delivers smart payables
  • Create and share tax forms within the platform.

Cons

  • No 24/7 support
  • Impossible to notify that rejected approval claims have been submitted.
Tipalti

Free plan available

No

Subscription Price

Starting at $149 Per Month

Interface

5/5

Kanban, user-friendly

4.5/5

 Expert Review

Very Good

Price

Starting at $149 Per Month

24/7 Support

No

Mobile App

Yes

Time-tracking

No

Tipalti Review 2023 Pricing

Recognized as a global payment processing platform, Tipalti offers a range of payment services for businesses, including accounts payable (AP) automation, tax compliance, and payment reconciliation. The platform is designed to help businesses streamline their payment processes, reduce payment errors, and improve compliance and financial reporting.

In this article, we will look at the features Tipalti offers, its pricing plans, and all its advanced features. Read on to find out if this payment processing platform suits your business needs.

Can Tipalti replace accounting software?

While Tipalti provides payment processing and financial management services, it is not a comprehensive accounting solution. Instead, it is designed to complement existing accounting software by automating the payment processing and balance processes.

Tipalti can integrate with various accounting software systems, such as QuickBooks and NetSuite, to provide a more streamlined and efficient payment process. It can also automate tasks such as invoice processing, payment initiation, payment reconciliation, and tax compliance. These features allow businesses to save time and reduce errors associated with manual payment processing.

What does Tipalti do?

Tipalti assists invoice and liability departments to manage their entire supplier payments operations seamlessly. The processing platform addresses everything from vetting to tax and regulatory compliance, invoice processing with PO matching, and payments to suppliers. It also deals with supplier compensation status communications, closing the loop with invoice payment reconciliation and reporting.

Tipalti Pricing

Designed to provide businesses with a range of payment options, Tipalti tailors companies’ specific needs and preferences. By partnering with a wide range of payment providers and financial institutions, Tipalti offers businesses greater flexibility and choice when it comes to processing and managing payments.

The pricing model is designed to grow with your company. For example, if you need to add advanced features such as W-8 tax forms, international tax IDs, or multi-entity payables, Tipalti can take care of that for you. Pricing starts at a cost of $149 per month for the platform fee. However, for more advanced features, you can seamlessly upgrade at any time for an additional fee. Unfortunately, while other payment providers offer a month free trial, this feature is not available at Tipalti.

Tipalti Features

This is a comprehensive payment automation platform that provides businesses with a wide range of features to streamline their balance due processes, improve financial compliance, and reduce payment errors. The platform automates the entire payment process, from payment initiation to payment reconciliation, which helps businesses save time and minimize errors associated with manual payment processing.

Tipalti supports a variety of payment options, including global ACH, wire transfers, PayPal, and prepaid debit cards. This provides businesses with flexibility in how they pay their suppliers and partners. With support for over 120 currencies in more than 190 countries, Tipalti is an ideal solution for businesses with international payment needs.

Approval Self-Billing features

This is another powerful tool that streamlines the billing process and ensures timely payments. With this innovative appliance, bills can be generated and considered as either pending payee approval or pending payee invoice, depending on the specific country.

The self-billing tool utilizes API or CSV to formulate bills and permits payees to receive email alerts to confirm bills. This feature ensures that payees are always aware of their outstanding bills and can take action promptly.

Furthermore, a payee will have the flexibility to approve bills or provide emails, as well as start payments that line up with their preferences. This level of customization ensures that the payment process is tailored to the unique needs of each payee.

Other features

The platform offers a comprehensive Resources tab for users seeking valuable materials to enhance their payment processes. This tab includes a variety of helpful tools, such as cost per invoice and payment error calculators, return on investment (ROI) requests, and in-depth articles and guides on topics like invoice workflow, accounts payable, and comparing payment methods. The Resources tab is designed to provide users with the necessary information to optimize their payment operations and streamline their financial workflows.

Tipalti app

The Tipalti mobile app is a game-changer for anyone who needs to manage payment activities on the go. Available for both iOS and Android devices, this app allows companies to stay connected with their suppliers and partners, even when they’re away from their desks.

With a range of features designed to streamline payment management, the Tipalti mobile app is a must-have for anyone who wants to stay on top of their finances. Users can track the status of their payments, view payment history, and approve or reject payments from their mobile devices. They can also provide notes or feedback to their team members, ensuring that everyone is on the same page.

Besides offering payment management features, the Tipalti mobile app also offers robust supplier management tools. Users can manage their supplier and partner data, view supplier profiles, and access contact information. For tax compliance, the app allows users to manage their tax forms and documentation, and access tax reporting and analytics.

Advanced security protocols

One of the best things about the Tipalti mobile app is its advanced security protocols. Users can rest assured that their data is safe and secure, thanks to the same security measures used by major financial institutions.

Overall, the Tipalti mobile app is an essential tool for anyone who needs to manage payments and suppliers on the go. With its user-friendly interface and powerful features, it’s the perfect solution for busy professionals who need to stay connected and productive, no matter where they are.

Tipalti iPhone

The mobile app is available for both iPhone and Android devices. This app allows users to manage their payment workflows on the go, making it easy to approve and track payments, manage payment methods, and view payment history from their mobile devices.

Among the many features available, users can review and approve payments from anywhere using their iPhone. This provides businesses with greater flexibility, efficiency, security, and payment visibility, making it a valuable tool for managing payment processes.

Follow-up actions

Another important feature allows users to receive payment alerts and notifications when payments are processed, approved, or declined. By receiving payment alerts on your phone, you can add an extra layer of security to your payment processes. This ensures that you are immediately notified of any suspicious activity. You can also respond to payment notifications and take action, such as initiating follow-up actions or confirming receipt of payment.

The Tipalti mobile app for iPhone is free to download from the App Store and can be used by any Tipalti user with an active account. The app is designed to provide a convenient and easy-to-use platform for managing payment workflows on the go, and it is regularly updated with new features and enhancements.

Onboarding process for suppliers and vendors

Offering a streamlined and automated onboarding process for suppliers, Tipalti enables businesses to efficiently collect and manage supplier data and documentation. This process also ensures compliance with tax laws and regulations across different countries by managing tax forms, withholding calculations, and providing tax reporting and documentation.

To further enhance financial management, Tipalti reconciles payments with invoices and other financial documents, while also providing an approval workflow for payments to maintain control and prevent fraud. With advanced security protocols, such as two-factor authentication and encryption, Tipalti ensures the utmost protection of users’ financial information and data.

Detailed reporting and analytics

Tipalti also provides businesses with detailed reporting and analytics on their payment activities, allowing them to monitor payment trends and identify areas for improvement. With Tipalti, businesses can streamline their financial operations and focus on growth and success.

Global partner payments (GPP) at Tipalti

This product is designed to simplify and streamline the process of making cross-border payments to partners, affiliates, and other external stakeholders around the world. The product includes a range of features and capabilities that help businesses manage their partner payment workflows more efficiently and effectively.

A vast choice

Tipalti supports a wide range of payment methods, including ACH, wire transfers, PayPal, prepaid debit cards, and more. This allows businesses to choose the payment option that works best for their partners, regardless of where they are located.

Tipalti’s GPPs product includes built-in compliance and tax management features, including tax form collection and validation, tax ID verification, and tax document storage. This helps businesses ensure that they are meeting their business taxes regulatory obligations when making cross-border payments.

Streamline payment processing

Users can personalize the Supplier Hub to align with their brand’s appearance. This feature enables suppliers or vendors to maintain accurate information about their data and eliminate duplicate registrations, ensuring a well-organized vendor master file. With the invoice management tool, users can handle multiple invoices in a batch or single workflow, streamlining the payment processing procedure.

It is also possible to categorize invoices for payment, regardless of the organization they originate from or the payment option they employ. Tipalti’s automated routing emails facilitate in-mail or online approval, and approvers can easily track the status of each invoice. Additionally, the platform allows for the grouping of invoices for payment, regardless of vendor or payment method type.

Accurately recorded payments

This Global Payments product can be customized to match the branding and user experience of each individual business, providing a seamless and consistent experience for partners and other external stakeholders.

This GPP product includes automated payment reconciliation features that help businesses match payments to the corresponding invoices and ensure that all payments are accurately recorded. It provides real-time visibility into the status of all partner payments, including payment processing status, payment delivery status, and payment history. This makes it easy for businesses to track and report their partner payment activities.

International tax IDs

The International Tax ID (TIN) Management feature helps businesses collect, validate, and store tax identification numbers for their suppliers and vendors around the world. Automated TIN collection is a key feature of this system, allowing businesses to quickly and accurately collect TINs from suppliers/vendors as part of the onboarding process.

Its advanced validation algorithms also ensure the accuracy of TINs and reduce the risk of errors and compliance issues. Additionally, Tipalti’s International Tax ID Management feature supports a wide variety of TIN formats from around the world, including EINs, value-added tax (VAT) numbers, ABNs, and more.

Tipalti securely stores TINs and other tax documents in compliance with local regulations and best practices, making it easy for businesses to access this information for reporting and compliance purposes.

Innovative financial operations

With end-to-end payable solutions, tailored to meet the ever-changing demands of your business, you can now liberate your finance teams from the tedious and error-prone tasks of manual accounts payable and point systems. This will enable you to concentrate on enhancing your scalability, efficiency, controls, and visibility, thereby driving your business forward.

Paying suppliers and vendors

Gone are the days of manual work when paper checks were issued and transaction fees were calculated manually. Today tax form data, payrolls, and signatory rights are all done manually. To make faster payments and pay suppliers on time, Tipalti offers instant payment techniques as well as built-in fraud detection. These features allow you to execute payments in a wide range of methods and currencies around the globe.

Free up your finance teams from the day-to-day inefficiencies of manual accounts payable, and working with point systems. Tipalti delivers end-to-end payables solutions, purpose-built to handle the evolving needs of your business — with a focus on scale, efficiency, controls, and visibility.

OCR invoice processing

Thanks to advanced optical character recognition (OCR), Tipalti streamlines your pay processing experience. With this feature, invoices are scanned and the necessary fields are automatically filled in, saving you valuable time and effort. Additionally, bills that are automatically keyed by vendors are forwarded to the appropriate approver for review and approval.

During the approval process, skilled approvers meticulously review and approve bills, update general ledger (GL) accounts, and send bills back to A/P for a different routing process if necessary. In the event that a bill is rejected or disputed, it is promptly returned to the A/P staff for correction.

No more delays

After approval, bills can be conveniently grouped for payment scheduling. This ensures that your payments are made in a timely and efficient manner, without any unnecessary delays.

Tipalti is committed to providing its clients with a seamless and hassle-free balance processing experience. The advanced OCR feature, coupled with expert approvers and an efficient payment scheduling system, ensures that your invoice bill needs are met with the utmost professionalism and accuracy.

Simplify your purchases

Another impressive feature is the Tipalti card. This solution allows you to manage your cards and transactions. It is an employee-friendly virtual card that allows you to view your account balance, cash flow, and credit line. In addition, on every transaction you make, you will get cashback.

The virtual card can be found in the Tipalti Hub, under the “Cards” tab. Here, you can find the Active Cards subtab which lists all active cards and allows you to add new cards and manage existing ones. You will also find the Card Transactions subtab. This shows all card transactions in the system while also allowing you to process transactions.

Tipalti privacy policy

When it comes to security, Tipalti takes the privacy and security of its customers’ information very seriously. In fact, the company’s privacy policy outlines the types of personal information it collects, how that information is used, and how it is protected. Tipalti may share personal information with its affiliates and service providers. The company may also share information in response to a legal request or to protect its rights or property

Sensitive data such as social security numbers, and other personal information is encrypted with HTTPS to securely connect with Tipalti’s server. This is the same level of encryption used by industry leaders, such as PayPal.

Customer support

This payment processing platform provides customer support with several support options to meet the needs of its customers. This includes self-service resources, phone support, live support, and dedicated account managers. Customers can access Tipalti’s support portal, which contains a wealth of information and resources, including user guides, FAQs, and video tutorials. The portal also allows customers to submit support tickets and track the status of their requests.

Working closely with its clients

For more urgent support needs, customers can get in contact with Tipalti’s support team via phone or email. The company offers a dedicated support line for urgent issues, as well as a general support email address for non-urgent inquiries. In addition to standard customer support options, Tipalti also provides dedicated account managers to its enterprise customers. These account managers work closely with customers to understand their unique needs and ensure they are getting the most out of the platform.

Time saving features

One of the standout features of Tipalti is its exceptional accounts payable workflow. This feature allows you to effortlessly manage vendor bills with precision and accuracy. With Tipalti, suppliers and vendors can easily upload their invoices, which are then seamlessly integrated into your system. This streamlined process ensures that you stay on top of your accounts payable, saving you time and reducing the risk of errors.

Integrations

Tipalti offers pre-built integrations with various ERP or accounting system apps, along with a comprehensive application programming interface (API) that can handle elaborate data sources. Leading integration partners include NetSuite, Sage Intacct, QuickBooks, Everflow, and others. Thanks to all these features, you can seamlessly connect your financial systems and streamline your payment processes with other apps.

The robust integrations and API ensure that your data is accurate, secure, and easily accessible. As a global payment automation platform, Tipalti provides businesses with a comprehensive solution for managing supplier payments. The platform is designed to integrate with your ERP or accounting system, as well as other business software.

Group invoices

Thanks to the invoice management tool, this feature manages multiple invoices efficiently allowing you to handle invoices in batches or single workflows. The tool allows you to classify invoices for payment, regardless of the organization they come from or the payment method they use.

This feature makes it feasible for you to streamline your payment processes and save time. In addition, it helps ensure tax compliance with KPMG-approved tax form data validation and withholding calculations.

How Tipalti can help large and small business owners

Tipalti’s value proposition is centered around five key benefits that can help businesses streamline their accounts payable processes and improve their financial operations.

Reducing AP workload by up to 80%

By automating many of the manual tasks associated with accounts payable, Tipalti can help businesses free up valuable time and resources that can be better spent on other areas of the business. This can be especially important for growing companies that need to scale quickly and efficiently.

Generating revenue for AP and improving finances

Tipalti’s early payments program allows businesses to offer their suppliers and vendors early payment in exchange for a small discount. This not only helps suppliers get paid faster, but it can also generate revenue for the business and improve cash flow.

Accelerating the financial close by 25% or more

With detailed payment reconciliation reports, Tipalti can help businesses close their books faster and more accurately. This can be especially important for businesses that need to meet tight reporting deadlines or comply with regulatory requirements.

Strengthening financial and compliance controls

Tipalti’s platform includes a range of features designed to help businesses mitigate risk and improve visibility into their financial operations. This can include features like fraud detection, compliance monitoring, and more.

Improving supplier relationships

By offering a self-service payment experience, Tipalti can help businesses improve their relationships with suppliers and vendors and reduce the amount of time and resources required to manage these relationships.

Overall, Tipalti’s value proposition is focused on helping businesses improve their financial operations, reduce costs, and increase efficiency. With a range of powerful features and a user-friendly platform, Tipalti is an ideal solution for businesses of all sizes looking to streamline their balance processes to automate payments, approve invoices, and take their financial operations to the next level.

Key benefits of Tipalti

Utilizing Tipalti offers a multitude of advantages for your business. By implementing this platform, you can eliminate over 80% of manual accounts payable operational processes. This includes streamlining supplier onboarding, balance processing with PO matching, tax compliance, global payments, supplier payment status communications, and payment reconciliation with your ERP system.

Free up valuable time

With Tipalti accounting software, you can automate these tedious tasks, freeing up valuable time and resources for your team to focus on more strategic initiatives. This not only increases efficiency but also reduces the risk of errors and fraud.

Furthermore, Tipalti ensures compliance with tax regulations and provides a secure and reliable payment system for your global suppliers and vendors. The platform also offers real-time payment status updates and seamless integration with your ERP system for easy reconciliation.

Tipalti Integrations

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Frequently Asked Questions

We have tried our best to cover as much information as possible about Tipalti accounting software. But, to help clarify the most frequently asked questions, we have also compiled this list for you for any doubts you may have.

Tipalti users must enter their usernames and passwords to access the payee dashboard. They will then receive a validation PIN number. This two-factor authentication (TFA) provides users with extra security measures.

Yes. The application programming interface (API) is used to support integration projects and provides access to all the backend functions available in the payer dashboard.

Typical users of Tipalti include large enterprises, small businesses, non-profit public administrations, and mid-size businesses. However, it is also suitable for small business owners who are looking to personalize the supplier hub to match their brand’s appearance.

Tipalti supports Russian, Italian, Chinese, French, Portuguese, Dutch, German, Korean, English, Spanish, and Japanese.

Thanks to its exceptional efficiency, automation, customer support, reporting and analytics, integration capabilities, and user-friendly interface, Tipalti accounting software has received high praise from its users.

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