Tipalti Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Tipalti Strengths, Domain Expertise, and Key Differentiators

Established in 2010, Tipalti offers a comprehensive payable automation solution, streamlining the entire global accounts payable workflow through its unified cloud platform. By leveraging Tipalti, finance departments effortlessly manage their AP and supplier payments operations, reducing workload by up to 80%. This enables leading companies to scale their business efficiently amidst global expansion while reinforcing financial and tax compliance controls. Trusted by numerous industry giants such as Roku, ClassPass, Twitter, and Amazon Twitch, Tipalti stands out as a reliable partner in transforming supplier payment operations, exemplifying its strength and credibility in the market.

Tipalti Recent Developments

In September 2023, Tipalti, introduced Tipalti Expenses, a cutting-edge solution for expense management and automation. This new tool seamlessly integrates with Tipalti's existing platform, which encompasses accounts payable (AP), procurement, cards, and mass global payments. The integration aims to enhance financial visibility while mitigating errors and fraud, aligning with Tipalti's commitment to providing comprehensive and advanced solutions for businesses.

In May 2021, Tipalti unveiled that it can now integrate with any Enterprise Resource Planning (ERP) system. Notable ERP integrations include Microsoft Dynamics 365 Business Central, Microsoft Dynamics NAV, Microsoft Dynamics GP, QuickBooks Desktop, Xero, Sage 50, Sage 100, Sage X3, Sage 300, SAP Business One, SAP Business ByDesign, and Acumatica, opening up scalable, global and modern AP automation capabilities to a much larger number of high-velocity businesses.

Following the acquisition of Approve, a cloud procurement solution, the Tipalti Approve procurement solution is now integrated with the Tipalti accounts payable offering, which provides a seamless experience from requisition to purchase order creation to payment and reconciliation. The solution creates a single, closed-loop, all-digital process to support purchase requisition and purchase orders. This improves visibility and control overspending.

In March 2020 Tipalti launched Tipalti Pi, a continuously-adaptive, integrated payables intelligence engine throughout the Tipalti platform that employs AI and machine learning to make the entire payables process smarter. This technology, which is available automatically to all Tipalti customers, proactively identifies fraud and risk, eliminates AP process errors, improves decision-making, and automates manual work. Tipalti Pi is designed to aid in a variety of ways throughout the payables process, including by reducing risks and errors, optimizing payables workflow, providing control for controllers.

Tipalti Pi will be available at no additional cost to customers throughout the entire Tipalti platform from supplier onboarding payment validation to tax form verification, invoice processing, duplicate detection, PO matching, approval workflows, and fraud detection.

In July 2019 Tipalti introduced Multi-FX, a new offering that further streamlines the global payables process for modern finance teams. The solution gives Tipalti customers the ability to fund their virtual Tipalti account once in a single currency, and then easily convert that money to the necessary local currency before payouts occur.

Finance organizations increasingly are expected to make payments to international suppliers in their local currencies. Some businesses, often need operating accounts in multiple currencies and to ensure they always have enough funds in these accounts to cover the amount of the entire payment run. Similarly, companies with multiple subsidiaries often need to regularly fund those diverse geographic divisions so they can make local currency payouts, such as for payroll, taxes, or general expenses. These FX burdens cost finance leaders valuable time that could otherwise be spent focusing on high-impact strategic initiatives. With Multi-FX, finance organizations can use Tipalti to save significant time that would otherwise be spent working across various banking systems to fund entities and convert currencies prior to making payments.

Tipalti Mergers and Acquisitions (M&A) Activities

In April 2021, Tipalti completed the acquisition of Approve.com, a leading provider of cloud-based procurement solutions. This strategic move enhances Tipalti's financial operations offerings, catering to the evolving needs of mid-market businesses. The integration of Tipalti and Approve.com enables finance leaders to access a comprehensive suite of advanced solutions, effectively streamlining manual processes. This acquisition solidifies Tipalti's position as the sole provider dedicated to automating the entire Accounts Payable cycle, spanning procurement to payment, for high-velocity mid-market enterprises.

Tipalti Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Tipalti applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Tipalti and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Tipalti Platform, Tipalti Cloud, Tipalti Approve, customers.

Tipalti Key Enterprise and Cloud Applications

Tipalti Platform, Tipalti Cloud, Tipalti Approve,

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Tipalti Direct vs Indirect sales

Tipalti Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Tipalti Customers

No. of Tipalti Customers: 3500

No. of Tipalti Enterprise Applications Customers: 3500

No. of Tipalti Cloud Customers: 3500

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In March 2023, Tipalti, a prominent global payables solution provider, released its 2022 performance report, showcasing substantial growth across various metrics. The company expanded its customer base to over 3,000, driving a 50% increase in total transactions, resulting in a payments volume of $43 billion. Notably, the introduction of its UK solution in 2021 significantly contributed to this growth, attracting over 100 new customers since its inception. Moreover, Tipalti welcomed renowned global brands like GoodRx, e.l.f. Cosmetics, and Cloudinary to its clientele, further bolstering its portfolio, which boasts an impressive 98% customer retention rate.

Tipalti Market Opportunities, M&A and Geo Expansions

In September 2023, Tipalti unveiled a localized solution tailored specifically for the European market. This strategic move signifies Tipalti's intent to penetrate key markets, with a particular emphasis on expansion into Germany and the Nordics. This presents a significant opportunity for Tipalti to capture market share and establish a strong presence in these regions, leveraging its advanced financial automation capabilities to meet the unique needs of European businesses.

In October 2021, Tipalti unveiled expansion into Europe with the opening of a London office. Tipalti’s cloud-based solution has been fully localized for the UK – helping high-growth businesses streamline AP processes and execute global payments. Its end-to-end AP offering addresses the entire workflow, including supplier management, VAT compliance, procurement, invoice management, PO matching, self-billing, global payments, payment reconciliation, and more. Its FCA-approved e-money license gives businesses the ability to manage domestic and cross-border payments, and FX conversion within the holistic payables platform.

The opening of Tipalti’s third global office comes after another year of continued growth. The company raised $76 million in a Series D round of funding led by Zeev Ventures, maintained its best-in-class customer satisfaction rating of 98%, and more than doubled new customer and business bookings during the first half of 2019. It also made both the Deloitte Fast 500 and Inc 5000 lists of America’s fastest-growing businesses, for the second consecutive year. Tipalti was also recognized as a Best Place To Work in the Bay Area by the San Francisco Business Times for the third straight year.

In September 2019 Tipalti raised an additional $76 million. Led by Zeev Ventures, the D round also includes a follow-on investment from Group 11 and participation from two new investors: 01 Advisors (a fund founded by Twitter’s former CEO & COO) and Greenspring Associates. Tipalti will use this additional funding to continue to set the pace for innovation in the payables automation space and solidify itself as the leading solution for fast-growing and mid-sized companies across the globe. The company will fuel its growth through an increased developer, customer success, sales, and business development headcount, marketing investments while adding new offices in North America and Europe.

Tipalti Risks and Challenges

Expanding sales in other regions of the wolrd will be a challenge.

Tipalti Ecosystem, Partners, Resellers and SI

In 2022, Tipalti significantly expanded its global alliances program, welcoming over 50 new partners. This strategic move bolstered Tipalti's global distribution and implementation capabilities, with notable additions such as RSM, Klear, Net at Work, Zift Solutions, and Swaarm. These alliances were instrumental in addressing customer needs and driving business growth.

In November 2021, Tipalti forged a partnership with Intercash, a leading global prepaid card payment solution. This collaboration expanded the reach of Tipalti's prepaid debit cards to 192 countries, including key regions like Latin America and Southeast Asia, enabling seamless international payments for Tipalti users and their partners.

In February 2021, Tipalti solidified three strategic partnerships aimed at modernizing financial operations for growing companies. Collaborations with Colu, Fusion Partners, and Queue Associates further enhanced Tipalti's offerings, covering areas such as civic engagement, investment development, innovation, and full-service consulting for Microsoft Dynamics applications.

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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

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