Tipalti, a global debt automation company, unveiled its latest innovations – which includes the integration of its Purchases and Accounts Payable service and a company payment card at Enlighten, its inaugural user conference, to help high-speed businesses control costs and improve visibility of their spend.
Tipalti also announced its plans for global expansion, with the launch of a streamlined solution for UK-based companies as well as the opening of their European headquarters in London as their first location.
âWith the addition of the integrated procurement and payment solution and the corporate payment card, we are excited to extend the value we could bring to financial executives in high-speed enterprises, to make it easier for them to life and enable them to function more efficiently, safely and at a high standard, âsaid Chen Amit, co-founder and CEO of Tipalti.
âWe are also excited to present our bespoke solution in the UK to the finance leaders in the market as there is a clear need and benefit for Tipalti’s technology in the region and our first step into Europe. Over the next 18 months, we will invest more in improving our product offering than we have in our previous 10 years combined. “
Integrated purchasing and debt solution
After acquiring Approve, a cloud provisioning solution, the Tipalti Approve supply solution has been successfully integrated with Tipalti’s Accounts Payable product offering, which provides an intuitive experience from request to purchase order creation, payment and reconciliation. The announcement also mentioned that the solution “creates a single, closed-loop, all-digital process to support purchase requisitions and purchase orders.” This “improves visibility and control of spending,” notes the update.
Take control of maverick spending with the Tipalti card
The corporate payment card helps control spending across departments and corporate budgets. The Tipalti card âwill provide transparent reconciliation and receipt management for all card activitiesâ.
As a first step, it will be provided in a virtual format that âwill link card purchases to Tipalti to track company spending and have real-time transaction authorization (linked to specific vendors) to reduce the burden. fraud and increase control over spending, while also being linked to purchase requisitions. “, Explained the announcement while adding that the card” should be launched in 2022 “.
As stated in the press release:
âTipalti’s card product will be led by Cards GM Nir Dremer, formerly the head of Stripe Atlas. Under Nir’s leadership, Atlas has grown from an alpha-stage product to one that has captured over 40% market share in an emerging digital business space.
âThe promise that finance teams can manage expenses while providing the flexibility to keep all employees happy and productive is great,â added Dremer.
Dremer further noted that “Tipalti’s approach to payment cards ensures that every transaction can be easily pre-authorized and accounted for, while also providing frictionless convenience for corporate buyers.”
As confirmed in the update, Tipalti is expanding in Europe “with the opening of a European headquarters in London – providing the UK’s first solution that automates the entire Accounts Payable (AP) process, while performing global payments “.
Tipalti’s cloud-based solution has been “fully localized for UK businesses as they continue to grapple with the challenges posed by the pandemic and Brexit”.
Tipalti is launching at “a critical time to enable finance teams to move away from manual financial operations and focus on strategic initiatives to help businesses survive and thrive.”
Tipalti Europe, which has established offices in central London, will aim to “create more than 200 jobs in the UK over the next three years, with more than 40 hires in the fields of engineering, sales, customer success, compliance and more by the end of 2021, âthe announcement revealed.
He has currently gained over 50 clients. The addition of the UK-based subsidiary to the Tipalti group allows it “to focus on the market and expand its solutions, including regulated payment services, before expanding to other countries of Europe, âsays the update.
Rob Israch, Managing Director of Europe at Tipalti, said:
âThere is a clear need and benefit for Tipalti’s technology in the UK. We know the strong desire of companies in the market to grow. In fact, almost a third (28%) of UK CEOs said international growth is a top priority in 2021 and beyond. ”