Tipalti Strengths, Domain Expertise, and Key Differentiators
Founded in 2010, Tipalti is the payable automation solution to streamline all phases of the global accounts payable workflow in one holistic cloud platform. Tipalti makes it painless for finance departments to manage their entire AP and supplier payments operation. Leading companies use Tipalti to eliminate up to 80% of their supplier payments workload, helping them scale their business efficiently with global growth, while strengthening financial and tax compliance controls. Hundreds of companies trust Tipalti to transform their supplier payment operations including Roku, ClassPass, Twitter, Automattic, Amazon Twitch, GoDaddy, Postmates, Medium, Zola, Foursquare, and Vimeo.
Tipalti Recent Developments
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 acquired Approve.com, a cloud procurement solutions provider, to expand its portfolio of financial operations offerings. Together, Tipalti and Approve.com will offer finance leaders seamless, modern, and advanced solutions to streamline manual processes which will enable their high-velocity customers to achieve their vision. The combination of these two companies makes Tipalti the only company dedicated to mid-market businesses that automate the entire Accounts Payable cycle from procurement through to payment.
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.
Ownership: - x
Number of Employees: 600
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Professional Services, Retail, Transportation, Utilites,
Tipalti Key Enterprise and Cloud Applications
Tipalti Platform, Tipalti Cloud, Tipalti Approve,
Tipalti Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Tipalti Revenue Breakdown By Type, $M:
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Tipalti Enterprise Applications Revenues By Functional Markets, $M:
Tipalti Enterprise Applications Revenues By Verticals, $M:
Tipalti Revenues By Region, $M
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Tipalti Direct vs Indirect sales
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Tipalti Customers - Breakdown by Geo, Size, Vertical and Product
No. of Tipalti Customers: 1500
No. of Tipalti Enterprise Applications Customers: 1500
No. of Tipalti Cloud Customers: 1500
No. of Tipalti Cloud Subscribers: x
Tipalti has surpassed $10 billion in annual transactions. This achievement coincides with Tipalti exceeding 1500 customers, once again doubling new customer bookings in 2019. Tipalti also added 65 new team members during the second half of 2019 with 240 employed as of Jan 1, 2020. This organizational growth includes Tipalti’s newest location in Vancouver B.C., Canada, as well as its offices in San Mateo, California, and Kibbutz Glil-Yam, Israel. Among its customers are WP Engine, GoDaddy, StackExchange, StackCommerce, Amplitude, ironSource, Top Hat, Zola, Uptake, Vimeo, Uber, Zumba Fitness, Vungle, ULG, Sovrn, Swing Education, Twitch, Tapjoy, and many others.
Tipalti Market Opportunities, M&A and Geo Expansions
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 November 2021, Tipalti partnered with Intercash, a global prepaid card payment solution, it will extend the reach of its prepaid debit cards for international payees and partners. Tipalti users can now offer Intercash prepaid debit cards in 192 countries, including Latin America and Southeast Asia.
In February 2021, Tipalti made three new strategic partnerships to further modernize financial operations for growing companies. The partners include Colu, a civic engagement platform, Fusion Partners, investment development and innovation firm, and Queue Associates, a global full-service consulting firm that is focused on providing consulting to the Microsoft Dynamics community including, but not limited to MSFT ERP, CRM, and cloud applications.
In September 2020 Tipalti formed three new strategic partnerships to further streamline finance operations for growing companies. The partners include Burkland, a CFO, accounting and tax services company; Klear, an influencer marketing platform; and SCS Cloud, a cloud consulting and implementation provider.
Burkland provides startups with fractional CFOs, accountants, and tax advisors so startups can focus on growth. They give strategic guidance to ease a company’s growing pains and provide financial insight to scale.
In May 2020 Tipalti formed three new strategic partnerships to further modernize finance operations for startups and midsized companies. The partners include FloQast, a financial close management software company that allows accountants to close faster and more accurately, Affise, a SaaS marketing platform created by affiliate marketers for affiliate marketers, and Myers-Holum, a provider of technology solutions that solve real-world business problems.
In May 2019 Tipalti partnered with Everflow, a cloud-based Partner Marketing Platform that provides partner management, deterministic Anti-Fraud tools, and automated optimization for marketers. The partnership provides Everflow customers with complete performance tracking, analytics, and global payouts in a single dashboard for seamless user experience.
Tipalti Cloud Infrastructure Insights
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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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