Tipalti is a US-based fintech company that provides expense management software designed to meet the needs of businesses of all sizes. Their software has various features to streamline financial operations, such as global money transfers, invoice and supplier management, procurement, etc. Tipalti’s services are available internationally, including in England and Wales.
Here’s all you need to know about their products.
Tipalti Solutions
Tipalti offers four software solutions:
- Accounts payable
- Procurement software
- Mass payable
- Expenses
Let’s learn more about each of them and review their main tools and features.
Accounts Payable
With the accounts payable automation tool, you can automate your day-to-day invoice workflow and make it more accessible for your team.
This user-friendly tool allows you to create invoices and process payments automatically through Tipalti’s platform, which you can access by logging in to your account on the website or via the mobile app. You can download the free mobile app for Android via Google Play and for iPhone via the Apple Store.
These are some of the tool’s main features:
Automatic AP processing: Access Tipalti’s invoice tool on the dashboard to scan, upload images, process, and send your accounts payable to suppliers. The mobile app lets you upload receipt images and capture pictures of your receipts or invoices, automatically saving them in your archive.
AP scheduling: Schedule invoices in advance and save the payees’ data for future use. You can also set alerts to track invoice processing and set optional alerts on your mobile app whenever the payee successfully receives an invoice.
Supplier overview and management: Manage and categorise supplier information in various languages. Once entered, the supplier data is saved on the dashboard for future use.
Tax data collection: The AP tool has a tax data retrieval feature that retrieves and stores all the necessary information. It also ensures that your documents comply with IRS regulations.
Purchase order matching: All purchase orders created with the AP tool are archived and saved for future usage. The matching feature helps the software reduce the risk of third-party breaches and fraud, errors, and data repetitions.
International payments: Process payments in 196 countries worldwide and use 120 global currencies to match the countries of your suppliers’ bank accounts. You can use any of the 12 money transfer methods. The tool has over 26.000 prebuilt plugins and rules to reduce the risk of errors while processing global money transfers.
Money transfer reconciliation: Automatically generate in-depth data reports on reconciliation that you can download 24/7 from the mobile app or cloud-based platform. You can choose the specific dates and times for the data included in the reports.
Staff management: Review and manage staff reimbursement requests for specific payments straight from the dashboard.
Procurement Software
With Tipalti’s procurement software, you can manage your company’s payments and monitor your employee’s spending. It helps reduce the risk of theft and keeps you updated on all incoming and outgoing money transfers and budget changes.
These are some of the software’s main features:
Staff payment request: Your employees can use templates to submit payment requests via their Tipalti account. They can upload multiple information related to their request, such as images, item specifics, amount, details about the supplier, etc.
Automated compliance: Create approvals beforehand and streamline them to your employees’ accounts. These approvals can be scheduled to be received in a specific timeframe that you can select in advance.
Fast supplier registration: Your suppliers will receive registration documents where they can add all the necessary financial, business, and contact information. You can manage and keep track of all your supplier contracts from Tipalti’s dashboard and set an optional alert for new supplier requests.
Expense visibility: Filter out various expense types and download reports on your global payments, money transfers, invoices, etc. The expense database is updated in real-time whenever you or your employees use Tipalti to process a payment.
Purchase orders: When you approve an employee’s request for a specific purchase, the software automatically processes the order.
Third-party integrations: Syncing the software with integrations is optional. You can choose from multiple accounting, eCommerce, and finance management apps, such as QuickBooks, Slack, Amazon, etc. All data on Tipalti’s AP software will automatically sync with the integrations you use.
Database backup: Your data is safe and regularly backed up by Tipalti’s database. It’s updated every four hours daily.
Mass Payments
With the mass payments tool and its REST API templates, you can automate payments for suppliers, freelancers, affiliates, contractors, and other payees and send mass payments internationally within seconds.
Mass payments also have a self-service platform you can embed straight to your business’ website to eliminate any unwanted data repetition or inaccuracies.
You can send payments to up to 196 countries and choose from 120 international currencies. The tool recognises various languages, so you can set up your money transfer by choosing one of 12 payment methods in a language of your choice.
Tipalti’s software relies on the latest AI technology to detect fraud and data breaches by scanning your payees’ cardholder and bank details data. The software does a thorough checkup before sending the money to ensure the payee’s information is legitimate.
Here’s what the mass payments tool is capable of:
Tax management: The tool validates tax identification numbers, VAT expenses, and internal revenue service (IRS) in over 50 countries worldwide. It also automatically captures relevant tax data and creates tax reports. You can sync it with third-party integrations that allow you to e-file tax reports to chosen authorities.
Performance tracking and analysis: The tool tracks your business performance and expense management daily. It regularly updates mass payments in real-time and creates in-depth data reports that you can download via the cloud-based platform or mobile app. You can choose a specific timeframe and download a report on all the data related to mass payments in the given period. You can also choose to download performance analytics to particular categories, such as local or international mass payments in one or multiple FX currencies, VAT expenses, etc.
Conversion management: The tool will update you whenever the FX rates are low, saving you money on foreign exchange fees.
Automated billing: Set automated billing and create accounts payable or approve daily workflows from the mobile app.
Detect tool: The detect tool helps the software keep track of all daily money transfers and spot suspicious and unwanted money transactions. In case it notices a suspicious transaction, the software will send you an alert of a potential data breach.
Expenses Software
As the name suggests, the Expense software helps you manage and keep track of your staff’s expenses from the cloud-based platform or the mobile app.
Here’s what you can do with the software:
- Reimburse staff members worldwide in 196 countries – send them money in over 120 foreign currencies by using one of the 12 money transfer methods
- Manage prepaid business cards
- Manage staff expenses
- ERP third-party integrations for accounting and finance management (Quickbooks, Sage, Xero, Oracle NetSuite, etc.)
- Monitor expenses and budget
- Automatically store tax
- Download spending reports
Tipalti Prepaid Card Integration
When you subscribe to Tipalti’s Expense software, you can integrate all of your business cards into the Expense software. These cards are an excellent option for companies that want to give their employees permission to pay for company-related goods and services.
Instead of reimbursing your staff members, you can set spending limits for each card and track how your staff is spending company money from the admin account. Your employees can use the mobile app or the cloud-based platform to request card limit changes, upload images of receipts, etc.
You can also centralise daily expenses, money transfers, procurement, and other processes.
Currently, Tipalti supports Mastercard, Visa, and Amex business cards. You can integrate your existing banking accounts into the software to have full access to your expense data.
Tipalti Prices and Fees
Tipalti offers three subscription plans for procurement and accounts payable management and two for mass payments.
To test out Tipalti’s tools and features before subscribing, you can book a free demo trial on each plan’s landing page.
Procurement and AP Management Plans
Here are the subscription plans for procurement and accounts payable management.
Starter Plan
This plan costs £129 monthly and comes with assistance via a supplier portal during the onboarding process. In addition to that, you also get the following:
- TIN authorisation
- Bill analysis and approval
- A collection of both W8 and W9
- An infrastructure with several entities
- Third-party integrations
- Pre-integrated expense management tool (optional)
Premium Plan
The Premium plan doesn’t have a fixed price. To get a personalised quote, contact the company by filling out the application form on their website.
The plan consists of all of the tools and features available with Starter, including:
- An unlimited amount of requests about receiving intake
- Purchase order matching
- An infrastructure that recognises several entities and foreign exchange currencies
- Mass payment tool (optional)
Elite Plan
The Elite plan has a tailor-made price for each subscribing company. You can contact Tipalti via the website to receive an offer.
This plan contains all the tools and features of the Starter and Premium plans and a few extra ones, such as:
- A procurement tool that is pre-integrated within the software
- Advanced regulations that allow businesses to receive and create requests about various types of purchase
- Company budget analysis and management
- Slack integration
- Over 30 apps for workflow management
Mass Payments
These are the subscription plans for the mass payments software tool.
Accelerate Plan
The Accelerate plan doesn’t have a fixed price. To receive a tailor-made offer, you’ll need to contact sales.
Here’s what you’ll get after subscribing:
- Self-enrollment assistance
- TIN authorisation
- Collection of both W8 and W9
- Software or monitoring and tracking and APIs
- Infrastructure that supports several foreign currencies and entities
- Expense tool (optional)
Plus Plan
Plus plan subscribers should also contact sales to get an offer.
This plan contains all the features included in Accelerate, plus a few additional ones, such as:
- Access to multiple API templates via the Developer Hub
- Fraud and theft detection and analysis
- Reporting on the payment levels
- Self-billing analysis and approvals
- Expenses, accounts payable, and procurement tools (optional)
Company Background
Founded in 2010 in California, Tipalti is a fintech company that provides software solutions for businesses looking to automate their expenses and international payments. The company’s headquarters are located in Foster City, California.
The company has over 1,000 employees internationally and processes over £41 billion annually. Its annual growth is approximately 40%. Tipalti’s president is Rob Israch, and Chen Amit is the co-founder and managing CEO. Sarah Dickens Spoja is the CFO, and Manish Vrishaketu is the officer in charge of operations and customer management.
Tipalti has offices in:
- UK
- US
- Israel
- Canada
- Netherlands
- Georgia
Some of their clients are:
- National Geographic
- Skillshare
- G2
- TuneIn
- Typeform
- NOOM
- WP Engine
- PubMatic
The company is registered in Wales and England, and its UK offices are located in London, at Tipalti Europe Ltd, St Martins Court, 10 Paternoster Row, EC4M 7HP.
To get in touch with Tipalti, you can submit enquiries on the website, call them at +44(0)2078468777 or email them at contact@tipalti.com.
On this link, you can report any type of problems or vulnerabilities with their products.
Follow them on LinkedIn and Instagram to keep up with their latest social media posts.
Online Reviews
Tipalti has over 220 reviews on G2 and a median score of 4.6 out of 5.0 stars, and 132 reviews on Capterra and an average score of 4.6 out of 5.0 stars. Most reviewers commented positively and mentioned the company’s helpful customer support and intuitive and straightforward software features.
The company also has 140 reviews and a median score of 7.9 out of 10 stars on TrustRadius and over 130 reviews with an average score of 4.6 out of 5.0 stars on GetApp.
The mobile app Tipalti Expenses has 20 reviews and an average score of 4.0 out of 5.0 stars on Google Play.