Regulatory and Tax Compliance
Tipalti was created partially to assist with paying people across borders. Consequently, it has built-in compliance for paying employees, merchants, or contractors in many different countries.
By integrating with the supplier portal, Tipalti lets suppliers fill out any W8 or W9 forms before you pay them. Tipalti calculates and withholds all taxes automatically, and will calculate 1042-s and 1099 tax forms with ease. Plus, Tipalti has Taxpayer Identification Number matching.
Additionally, Tipalti handles cross-border fraud screening for payments you send out. It’ll scan your payment against the Office of Foreign Asset Control and Specially Designated Nationals for red flags.
Invoice Management
You can scan invoices and receipts directly from an email or upload it manually, and Tipalti will pre-populate the appropriate fields based on the document. It’ll also send notifications to anyone that needs to know.
Tipalti can also automatically batch invoices for payment, reconcile supplier payments, perform PO matching, and more.
Global Supplier Management
Tipalti’s global payments system has a global reach, supporting 190 countries, 120 currencies, and six payment methods.
Automation of payments is one of Tipalti’s key strengths. You can upload all payment files to one screen in Tipalti and remit all payments to their respective suppliers without using separate bank portals. Tipalti then reconciles this payment data and sends it over to your ERP system.
Tipalti also leverages machine learning to automate supplier code matching over time. Once you match a code to a supplier, Tipalti will begin doing it without your assistance.