Tipalti Announces Solutions to Wipe Out Maverick Spend and Streamline Purchasing at Its Inaugural Conference, Tipalti Illuminate
Tipalti, a global payables automation company, unveiled new innovations including integration of its current Procurement and Payables solution and a corporate payment card at Illuminate, its inaugural user conference, to help high-velocity companies control costs and improve spend visibility. The company also announced its international expansion, with the release of an optimized solution for UK-based businesses and the opening of their European headquarters in London as its first location.
“With the addition of the integrated procurement and payables solution and corporate payment card, we are thrilled to extend the value we could provide to finance leaders at high-velocity companies, to make their lives easier, and to allow them to operate more efficiently, safely, and at an elevated level,” said Chen Amit, co-founder and CEO at Tipalti. “We are also excited to introduce our UK-tailored solution to finance leaders in the market, as there’s a clear need and benefit for Tipalti’s technology in the region and our first step into Europe. In the next 18 months, we will invest more in enhancing our product offering than we did in our previous 10 years combined.”
Integrated procurement and payables solution
Following the acquisition of Approve, a leading cloud procurement solution, the Tipalti Approve procurement solution is now integrated with the Tipalti accounts payable offering, which provides a seamless experience from requisition to purchase order creation to payment and reconciliation. The solution creates a single, closed-loop, all-digital process to support purchase requisition and purchase orders. This improves visibility and control over spending.
Gain control of maverick spend with the Tipalti card
The corporate payment card provides spend controls across companies departments and budgets. The Tipalti card will provide seamless reconciliation and receipt management on all card activity.
Initially, it will be offered in a virtual format that will link card purchases to Tipalti to track company expenses and have real-time transaction authorization (tied to specific vendors) to reduce fraud and increase spend controls, while also linking to purchase requisitions. The card is expected to launch in 2022.
Tipalti’s card product will be headed by Cards GM Nir Dremer, formerly the head of Stripe Atlas. Under Nir’s leadership, Atlas grew from an early alpha-phase product to one that captured more than 40% in market share within an emerging space of digital companies.
“The promise that finance teams can manage spending while ensuring the flexibility needed to keep all employees happy and productive is tremendous,” says Dremer. “Tipalti’s approach to payment cards ensures that every transaction can be easily preauthorized and accounted for—yet also offers frictionless convenience for corporate buyers.”
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