Tipalti, the acclaimed global finance automation platform, has recently made headlines with the introduction of a new feature to its repertoire.
The rationale behind this fresh addition was to provide a seamless solution for managing and automating employee-initiated and supplier spending on a global scale. Given the complexities businesses face in the realm of financial management, Tipalti aims to alleviate these pressures and offer improved efficiency.
Diving deeper into the company’s operations, Tipalti is celebrated for its robust platform that offers end-to-end finance solutions, including AP, procurement, card automation, and mass global payments. The platform’s primary objective is to enhance financial transparency, while simultaneously reducing the potential for errors and fraudulent activities.
Their latest product, Tipalti Expenses, promises to revolutionise the way businesses manage employee spending and reimbursements. Not only does this new solution integrate seamlessly with Tipalti’s existing platform, but it also offers the advantage of a singular funding flow. The result? An estimated 80% reduction in manual tasks. Moreover, the Tipalti mobile app ensures flexibility, allowing businesses to manage expenses on the go, with features such as instant receipt uploads for swift approvals.
The issue of reimbursing employees’ out-of-pocket expenses is a persistent challenge for finance teams globally. With market volatility and potential recessions looming large, the drive for streamlined finance processes has surged. According to a survey by Tipalti, a whopping 70% of CFOs are investing in digital tech for finance automation. The consensus is clear: digital tech, particularly in expense management, is indispensable.
Existing users of Tipalti’s solutions are already witnessing the merits of this new feature, including quick reimbursements in over 196 countries, automated ERP syncing, and a reduction in both errors and fraudulent activities.
To supplement its existing virtual card, Tipalti also introduced a physical U.S. card, facilitating travel and entertainment expenses. This integrated card provides financial teams with a transparent view of expenditure and ensures stringent financial controls.
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