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Tipalti is an award-winning software used for payment automation and management. It received numerous accolades, including the Expert’s Choice Award in 2019. The main challenge in the finance niche is not only to be extremely accurate and timely, but also be able to avoid non-compliance, administrative burdens, and numerous human errors.
Tipalti is used by businesses around the world to meet their deadlines and tackle all of these issues. The software helps to remove the hassles of complex global payments, swiftly proved by more than $10 billion dollars of spend that run through the software each year.
Let’s take a deeper look with our Tipalti review!
Founded in 2010 by Oren Zeev and Chen Amit, Tipalti Inc. has now become one of the main financial service providers that help businesses to manage their payouts, taxes, and many other tasks.
It is a powerful solution for both small- and medium-sized businesses in different fields, including online marketplaces, ad networks, and others.
The software currently has more than 4 million clients, including Google, Amazon Twitch, Nikon, and Twitter. Tipalti is able to automate the global payable operations, facilitating international payments in different currencies and through different payment methods while reducing the workload by 80%.
The software is used to mitigate regulatorily and tax risk, generate sales through early payments and enhance supplier relationships.
How Does Tipalti Work?
Tipalti is used to automate accounts payable processes and it offers a wide array of features, including payment remittance, invoice automation, tax calculations, regulatory compliance management, and more.
The system provides a useful portal that eases supplier management; for instance, Tipalti payment status services can be used to send automatic notifications, but also other tasks regarding invoices, and other important data.
Businesses use Tipalti to simplify the supplier payment workflow. In addition to this, it provides support regarding compliance management and automatically verifies payment information.
The payment reconciliation reports are fully integrated with accounting and ERP (enterprise resource planning) systems, including Xero, NetSuite, Oracle, and others.
The software is successfully used by all business types and sizes, including freelancers.
Tipalti payments are processed by its well-developed platform. It offers 24/7 access with automatic upgrades and constant innovation, allowing businesses to remain on top of their financial tasks.
Some of its main features include:
- Tax compliance allows for the collection and validation of IRS and VAT IDs, and it is also KPMG-approved for both W-8 and W-9 IRS requirements
- Invoice management, including built-in OCT that has touchless invoice processing
- NetNow provides accelerated payments to suppliers, so businesses can generate sales without having a negative impact on their working capital
- High-end artificial intelligence that allows for improved efficiency and risk mitigation
- Secure API with a complete SOAP interface
- Supplier management, payment status notifications, and many more.
The software has numerous integrations that allow you to manage your business successfully. Tipalti Netsuite helps to streamline payments and obtain complete payment transparency within the supply chain operations.
This allows eliminating up to 80% of the workload regarding accounts payable processes.
Tipalti Clickfunnels is perhaps the best software on the market regarding sales and marketing funnels. What makes it stand out from its competitors is that you have access to everything you need to promote, sell, and even deliver your products in your e-marketplace.
Tipalti Fees – How Much Does Tipalti Cost?
Tipalti payments are available in more than 190 countries and 120 different currencies. Payouts are also available through different methods, including PayPal.
Tipalti pricing plans are Tipalti Express which is $299 per month, and Tipalti Pro at $447 per month.
The more expensive plan offers access to W-8 tax form processing, multi-entry payables, and international tax ID processing.
Tipalti fees and pricing:
- Tipalti Express: $299 per month
- Tipalti Pro: $447 per month
Is Tipalti Safe?
Tipalti is a cloud-based financial and accounting solution that tackles global payment processing, ranging from onboarding to tax compliance.
They have multiple layers of protection, including payment risk management and fraud detection.
The end-to-end accounts payable automation ensures that your business is not only highly accurate and safe, but also efficient.
The software is compliant with SSAE 16 SOC and has an ISAE 3402 Type II certification which allows for ultimate security and performance.
In addition to this, all the personally identifiable information is safely stored and encrypted using the AES (Advanced Encryption Standard).
Tipalti’s customers benefit from excellent support. Tipalti phone number is +1 (650) 319-8999 and it is available from 6:30 AM to 6:30 PM (PST).
Alternatively, they can be contacted via email and there is an average response time of approximately 2 hours.
A great highlight of the software is the high customer satisfaction rate of 98%.
Below are some of the top Tipalti competitors you should consider.
Tipalti vs Bill.com
Bill.com is ideal for any business size and it also has an Accountant Partner Program, allowing businesses to get paid twice as fast than without the software.
Some of its features include sending recurring invoices, automatic payment reminders, and even accept flat-rate ACH payments.
On the other hand, Tipalti enables businesses to automate the entire supplier payment operations, allowing for invoice processing, international payments in numerous currencies, tax and regulatory compliance, and many more.
This recommends Tipalti for medium to large businesses seeking to become more efficient and streamline their payment operations.
Tipalti vs Payoneer
Founded in 2005, Payoneer has millions of users as it is a popular software to receive finances in un-banked countries.
The company faced recent criticisms in first world countries because of the potential security gaps, although they have several trusted partners.
Similar to Tipalti, Payoneer can handle different payment types, but the most popular financial product is their prepaid debit card.
They do not support PayPal, tax data validation, invoices processing, integration with the ERP systems, and many more, unlike Tipalti.
Conclusion: Tipalti Review
All in all, Tipalti is a popular business choice among corporate giants, including Google, Twitter, and Nikon.
It is a wise solution if you need a highly efficient way of making international payments while cutting the workload.
Tipalti ensures full compliance with tax and money transfer regulations, offering a wide range of traditional and digital payment options.
However, due to the high cost per month, Tipalti might not be within the budget of small companies.
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