Tipalti AP Automation

Tipalti is a world payment system that helps companies reduce the time needed to complete huge numbers of complicated payments to suppliers globally. It takes care of the international money transfer details that differentiate throughout the world, automating the processes associated with vendor, customer and affiliate payments on a global level, letting businesses focus their resources on other areas.

The software is suitable for use by companies that deal with multiple global partners and suppliers and therefore need to offer secure payment solutions to their partners around the globe. It is ideal for large enterprises with offices and services fragmented into multiple locations, and any business in charge of mass pay-out operations that is overwhelmed by the excessive manual effort required to keep up with payment processing, tax form collection and compliance, payment reconciliation reporting, and so forth.

Tipalti handles multiple currency conversions, international money transfer, payment processing, gathers all required tax forms, integrates with all international compliance regulations so that payees are kept in compliance with OFAC, prevents money-laundering, provides sophisticated payment fraud prevention tools, and serves as a platform for communication and resolution in the case of global payment issues. Its integrated reports system ensures that finance departments can get a detailed picture of the international payments activities broken down by payment method and supplier for a given time period.

What is Tipalti AP Automation?

The main purpose of Tipalti is to free up company resources that were previously struggling to cope with mass payments across the world. In addition to that, Tipalti handles tax, regulatory compliance, and fraud risk while raising the overall partner experience with faster international payments, less transaction errors, more diverse payment methods and currency options, and more streamlined communication.

Tipalti can help finance departments to easily get through time-consuming tasks such as international bank transfer, collecting necessary payment info by country, utilizing different location-based payment methods, collecting and sharing of tax forms, preparing 1099s, and performing payment reconciliation and reporting.

Tipalti AP Automation Main Features

Tax and regulatory compliance

Partner tax form collection is a time-consuming hassle and a regulatory concern with risk of fines and other punishment. Tipalti eases those worries by collecting all tax documentation directly within its payment system, making this information instantly available to the payer whenever needed. All necessary tax information is compiled in built-in 1099 reports.

Tipalti’s world payment system include a built-in database that covers over 190+ countries that is constantly updated so that payers are always up to date with constant changes to national tax laws and regulations across the world. Ongoing in-house IT payment system upgrades and maintenance costs are eliminated.

Payment currency and method selection for global payment

With Tipalti’s global payment system, companies no longer need to restrict the countries they have partners in, nor do they need to limit the payment methods and currencies they offer to those global partners and suppliers. Each country has very different payment regulations, so performing payments throughout the world demands serious amounts of time and energy to gather all the required information and avoid payment transaction issues.

With Tipalti, partners can select which international currency they want to get paid in, saving them time spent converting their payments to the local currency and unneeded bank fees. This makes their collaboration and experience with a partner company of the highest quality.

Tipalti’s payment processor also allows partners to choose the payment method they want to use based on their location of interest. Particular payment methods are preferred in different countries and each payment method has different information collection requirements by country so this capability provides both a better partner payment experience while minimizing the risk of payment processing errors on behalf of the payer. Supported payment methods are ACH, International ACH, eCheck, Wire Transfer, PayPal, Paper Check, Prepaid Card and Cash (via Western Union).

Payment issue resolution

Where financial transactions are performed, there must be solid and clear communication. Tipalti automatically handle the communication of payment issues directly with payees to collect missing information, or to resolve payment disputes, while automatically providing all notifications to the paying company. This saves the payer time from having to directly deal with these types of payment dispute communications and ensures there are no unnecessary delays in transactions.

Fraud protection

Tipalti’s secure payment solutions prevent fraudulent behavior by automatically checking payee records against US and international blacklists (OFAC) to avoid payouts to suspected terrorists, money launderers, and drug traffickers.

Despite payees that have previously passed these tests, they are checked again during every payment cycle according to the US government data and Specially Designated Nationals lists being updated on a weekly basis. These built-in fraud control features remove legal and financial risk. The application can even suspend or block payees and freeze their payment process.

Payment reporting

Tipalti’s online payment solutions include an integrated reporting system offers the payer and payee full visibility of the payment process and status of each payment, while payment reconciliation and 1099 reporting significantly streamlines the close period reporting process.

Users can access reports through the application’s main dashboard, or get them delivered via email, API calls, daily FTP file updates and IPN. These reports can be used to aggregate all economical data into weekly, monthly or annual reports.

Tipalti AP Automation Integrations

As Tipalti is utilized by many affiliate and advertising network companies, it is important to be able to track the performance and traffic generation impact of each affiliate or partner, and to pay individuals accordingly. To cover this need, Tipalti integrates well with the CAKE digital marketing analytics software.

Tipalti can also integrate with HasOffers performance marketing analytics software, the popular QuickBooks finance and accounting software and the Netsuite ERP system. The API of the application integrates with a payer’s partner website for payee registration, payment method and currency selection and tax form collection through Tipalti’s iFrame system.

Tipalti AP Automation Pricing

Tipalti costs $750 per month plus a flat per transaction fee that vary according to the payment method that the payee chooses. Because of the nature of the service, there is no trial version available.

The software only comes in one standard version with the fixed aforementioned price and supports unlimited number of transactions, payees, suppliers, partners, collaborators, users and countries.

Tipalti AP Automation Bottom Line

• Easy, fast and secure world payment system
• Affiliate program management and affiliate payments, publisher payment, and vendor payment
• Fraud protection during international money transfer
• Tax and regulatory compliance management for global payment
• Multi-national transactions for international bank transfer
• Up to 50% less labor costs and 25% less direct payment costs