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Tipalti Review

Top10.com Staff

In a Nutshell

Tipalti is a B2B payments and invoicing tool designed specifically for companies processing a high volume of international payments. Its invoicing features include Optical Character Recognition (OCR) to automatically parse documents, a system for automatically matching purchase orders (POs) with other documents, and batch invoice scheduling.

pros

  • OCR detection for parsing documents
  • Automatically matches POs, invoices, and receipts
  • Suppliers get a portal for uploading invoices

cons

  • No integration with some popular ERPs
  • Not cost effective for small businesses

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Tipalti at a Glance

Best for: Large businesses with many suppliers

Price range: $299/month (Express) or $447/month (Pro)

Apps: No

Features and Add-ons

Accounts Payable Automation

Tipalti can automate all aspects of the vendors payment process. This includes both invoice capture and processing and automating scheduled payments based on the output of this process. This automation has been shown to reduce human error by 66%. Tipalti also uses Optical Character Recognition (OCR) and data extraction technologies to automatically detect fields in invoices and match payments accordingly. This significantly cuts down on tedious manual data entry.

Additionally, Tipalti’s OCR and automatic data processing systems have an adaptive learning functionality. This means that they get more accurate the more they use them, particularly when human personnel oversee the process and correct any errors.

Self Service Supplier Portal

Tipalti lets users create self-service supplier portals. This allows users to upload their invoices and they will be automatically entered into the accounts payable system. The self service portals can be customized with company branding. Additionally, the portal cross-checks the data sent by the supplier across a database containing 26,000 global rules.

Tax Compliance

Tipalti also has some features that help users stay in line with tax codes and avoid costly penalties from the IRS.

Rule Checking Engine for Payable Invoices

Its main feature in this respect is a rule checking engine that automatically checks all received invoices against a database of 1,000 tax rules. The system will automatically detect things like invalid or missing EINs. If the invoice received is missing these details, the system will flag the lack of compliance so that the business doesn’t violate the tax code by paying an invoice missing essential information.

KPMG-Certified Rule Generator

Tipalti also contains a KPMG-certified tax form generator that will automatically generate all required tax forms such as the IRS 1099 form. Again, this saves accounting departments time compared to if the data entry and form completion had to be done manually.

Bulk Supplier Payments

For global B2B businesses that have hundreds of suppliers, paying invoices can be a huge and time consuming endeavor. Tipalti contains a bulk payment scheduling tool for this reason. It supports payouts in 120 currencies and to 190 countries and can be used to pay 100s or 1,000s of invoices in a batch on a scheduled date. It can process payments through a variety of popular gateway platforms including Paypal. Additionally, Tipalti checks all scheduled payments against a “do not pay” list that is designed to detect fraudulent accounts.

Early Payments System

Tipalti also contains a built-in system for processing early supplier payments. In order to do this without affecting cash flow, Tipalti’s financing covers the balance and customers receive a rebate on all payments made early.

Automatic Payment Reconciliation Reporting

Tipalti features a system for automatically reconciling payment information as payments are made. In addition, Tipalti automatically organizes the data and sorts it according to method, account, entity, and region.

Business System Integrations

Tiplati integrates with a number of ERP and accounting systems, although there are still some gaps left to fill, particularly for tools in use among smaller organizations.

Currently integrations include:

  • NetSuite

  • Sage Intact

  • Intuit Quickbooks

Additionally, Tipalti provides an API for retrieving supplier payment information in real time. It can integrate with any accounting or ERP system and retrieves data via authenticated API call for the best possible security.

Payment Options

Tiplati supports payments in 120 currencies and to 190 countries. Additionally, payouts can be processed using a variety of methods that include common payment gateways such as Paypal. Tipalti can also send payments through the US ACH system, by international bank wire, or by international ACH/ eCheck.

Pricing/Costs & Fees

Tipalti is available at 2 levels:

Package
Cost

Tipalti Express

$299/month

Tipalti Pro

$499/month

Tipalti Pro includes all the features of Tipalti Express, plus:

  • W-8 tax form processing

  • International tax ID processing.

  • Multi-entry payables.

Clearly, Tipalti is targeted at large organizations and therefore it’s pricing can actually represent excellent value, particularly in use cases in which the system is being used to process thousands of monthly invoice payments. For Small to Medium Businesses (SMBs), however, a simple accounting system for tracking and paying invoices received would likely be a better, and more affordable, option.

Tipalti Tipalti Visit Site

Usability

Tipalti is a very easy product to use. Much of the workflow is taken care of automatically—such as ingressing invoices sent by email or uploaded manually to supplier portals. The features are easy to navigate around and users primarily have to concern themselves with overseeing the various automation tools’ performance in order to ensure that invoices are captured and paid in an accurate fashion and the department remains in compliance with various tax codes and statutes.

Conclusion

For enterprise customers with large account payable workflows, we think that Tipalti is an excellent and well designed engine that leverages plenty of automation to both cut down on manual data entry and minimize processing errors due to human error, which can be a significant problem in repetitive workflows like bulk invoice processing. Its pricing really only makes it suitable for deployment within enterprise-level organizations—but that is also really its intended use-case.

Top10.com's editorial staff is a professional team of editors and writers with dozens of years of experience covering consumer, financial and business products and services.

Tipalti customer reviews

Based on 22 reviews

Ease of use

Brand satisfaction

Value for money

Service quality

Top Reviews

Ease of use

Brand satisfaction

Value for money

Service quality

7 months ago

I love the great service that this company provides. They always have great customer service and great quality work whenever I call. I love using them for my everyday convenience.

7 months ago

It's a absolute must all business, it's extremely easy to use and at a low cost.

7 months ago

Easy to use when invoicing. Very helpful because I send a ton invoices out throughout the week. The quality of service is excellent.

8 months ago

Tipalti is a convenient to use software that is very user friendly. The software is an excellent value.

8 months ago

Great service that delivered what we were looking for as a customer who had certain needs.

8 months ago

I prefer this program so much because it is good and better than others.

8 months ago

The software is top of its class. It's pretty much got everything required. Its quality of service is second to none.

8 months ago

Tipalti works and helps us save time and money by automating and streamlining processes. The fees seem high but overall I think it saves us money.

9 months ago

Because of the quality of its software, which is very good and well organized. The benefits attached to in many ways help us to achieve our set goals and objectives which is very good. It's very vital in our work and gives us quick results without delay.

10 months ago

I didn't really like the quality they provided and I hated Tipalti's customer service.

10 months ago

It is an easy program for daily and regular using by customers and it offers many services.

7 months ago

It is clean and simple. Easy to use, the user interface is straight forward.

7 months ago

It was really easy to use and had no problems. Normally It's a hassle sending out invoices.

7 months ago

It was never a problem to use and I was satisfied with the initial outcome that I got.

8 months ago

It seems to work pretty well. It has been super helpful. It's affordable. We enjoy using it. It's a superior software. It works well for our needs.

8 months ago

It has everything you need to keep track of invoices, but was confusing when first used. Could of had a better way to help navigating the site.

8 months ago

Tipalti has been used by my company for a very long time, I can say it hold it's ground against others.

9 months ago

I give it an overall rating of 4 because it was pretty easy to use but it wasn't the best that I had worked with.

8 months ago

It was a very useful software while sending invoices to customers as well as keeping track of materials.

9 months ago

I thought they were on par with other services. Did not get too far in the process.