Overview
Tipalti Finance Automation and Global Payments for Xero
Tipalti makes it painless for finance departments to manage their entire finance operations and Global Payments by streamlining:
- Partner / supplier / vendor onboarding and vetting
- IRS & VAT validations; W-9 / W-8 / 1099 tax compliance
- Procurement / PO management
- AI-powered invoice management: Invoice collection, processing and approvals, and PO-matching
- Proactive OFAC screening
- International partner / supplier payments
- Partner/supplier/vendor communications
- Payment reconciliation & AP reporting with Xero
- Corporate card spend
- Employee-initiated spending and reimbursements
Eliminate 80% of payables workload and avoid additional hiring. As you add more invoices, payments, global suppliers, subsidiaries, costs, and audit controls, automate your payables process so you can easily and rapidly manage the changing needs without requiring more resources. Your AP & finance teams can free up their valuable time and focus on strategic initiatives.
Reduce tax, regulatory, and financial control risk with our KPMG-Approved Tax Engine. Collect and validate IRS, VAT tax IDs, W-9, W-8BEN, VAT Details, 1099 & 1042-S reports, & calculate withholdings. Ensure compliance with digitized tax form collection, which includes built-in audit logs, automatic validation against 3,000+ rules, OFAC (& other) sanctions screenings before every payment, signatory rights, and robust workflow approvals.
Improve partner/supplier/vendor relationships by providing a best-in-class experience. Streamlined onboarding with an easy-to-use, white-labeled system puts the power in your partner’s hands. Keeping them satisfied is the most effective way to retain and delight current partners on your platform while allowing you to attract new partners and avoid churn risk.
Accelerate financial close by 25%+: Automatically reconcile payments into Xero, which enables real-time cash flow and spend visibility while streamlining payment reconciliation across instances, geographies, currencies, payment methods, and workflows.
Tipalti + Xero
The Tipalti and Xero integration will allow you to unlock the following for your growing business:
Supplier Management:
- 26,000+ rules for verifying partner/supplier payment information
- Supplier/partner self-service portal available 24 hours, 7 days a week; allows partners to view invoice and payment history, change payment information, see payment statuses, upload invoices, and run reports
- Branded portal matches your company’s look and feel
- Automated emails to partners for status updates, including when tax forms are invalid or expired, when payments fail (including corrective actions to take), and more
Tax & Regulatory Compliance:
- W-9 / W-8 capabilities meet the standards outlined by the IRS, as prescribed by KPMG
- Local / VAT tax ID collection in 50 countries, with 3,000+ rules that validate tax digits
- 1099 / 1042-S tax preparation reporting
- Integrated e-filing capabilities
- Tax withholding amounts are automatically deducted from payments
- Optimized for digital consumption and electronic signatures
- OFAC and "Do Not Pay" blacklist screening before all payments are processed
Touchless Invoice Processing, PO Matching, and Approvals:
- AI-powered OCR (header + line level scanned & captured) extracts invoice details and pre-populates bill information
- Advanced data extraction services get you to 100% invoice completeness and accuracy
- AI recommends approval sequences based on criteria such as supplier and GL account
- Manage/approve invoices via email with configurable approval matrix
- Enhance collaboration via mobile devices with Tipalti Comments, a built-in communication hub to resolve issues quickly, accelerating invoice processing
- Intelligence built-in, getting smarter and more accurate as invoices are scanned
- Support for PO and non-PO invoices, with configurable rules that align with company matching policies based on bill amount or supplier
Procurement, Expenses & Corporate Card:
- Control 90% of total addressable spend with intuitive, employee-friendly intake forms for easy employee adoption
- Robust approval flow management for automated approval routing tailored to company policies
- Pre-built integration with leading ERPs, HRIS, ticketing systems, Amazon, and Slack
- PO, budget, and supplier sync to keep all systems up-to-date
- Real-time spend reports and dashboards across multiple subsidiaries
- Manage reimbursable expenses and card transactions in one place with corporate card integration supporting Visa, Mastercard and American Express
- Accelerate monthly close by automatically categorizing expenses by GL expense type and syncing with ERP
Cross-Border Payments:
- Global payments to 196 countries, 120+ currencies
- Choice of 12 payment methods – US ACH, wire transfer, eCheck / global ACH, paper checks, PayPal, prepaid debit card and more
Getting started
Tipalti provides rapid implementation to get you up and running quickly and integrate Tipalti with your Xero accounting software. Tipalti has a proven track record of getting customers live in just weeks, and in some cases even in as little as a few days. Our “white glove” service provides customers with dedicated implementation, customer success, and supplier enablement experts. Schedule a customized demo today and learn how you can take control of your payables.
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