Tipalti has strengthened its offering with new innovations including integration of its current Procurement and Payables solution and a corporate payment card at Illuminate.
The move bolsters the firm’s expansion into the UK, as it seeks to help high-velocity companies control costs and improve spend visibility.
Furthermore, the company also announced its international expansion, with the release of an optimised solution for UK-based businesses and the opening of its European headquarters in London as its first location.
Chen Amit, Co-Founder and CEO at Tipalti, commented: “With the addition of the integrated procurement and payables solution and corporate payment card, we are thrilled to extend the value we could provide to finance leaders at high-velocity companies, to make their lives easier, and to allow them to operate more efficiently, safely, and at an elevated level.
“We are also excited to introduce our UK-tailored solution to finance leaders in the market, as there’s a clear need and benefit for Tipalti’s technology in the region and our first step into Europe. In the next 18 months, we will invest more in enhancing our product offering than we did in our previous 10 years combined.”
The corporate payment card provides spend controls across companies departments and budgets. The Tipalti card will provide seamless reconciliation and receipt management on all card activity.
Initially, it will be offered in a virtual format that will link card purchases to Tipalti to track company expenses and have real-time transaction authorisation (tied to specific vendors) to reduce fraud and increase spend controls, while also linking to purchase requisitions. The card is expected to launch in 2022.
“There’s a clear need and benefit for Tipalti’s technology in the UK. We know the strong desire for businesses in the market to scale, in fact almost a third (28%) of UK CEOs said international growth is a top priority in 2021 and beyond,” added Rob Israch, General Manager of Europe at Tipalti.
“However, time-consuming manual finance processes and piecemeal solutions are holding them back. We want to change this. We know, now more than ever, and in this current climate, finance teams need to be empowered with great technology that modernises finance departments and provides finance leaders with greater visibility and control.
“Tipalti’s scalable solution is purpose-built to help businesses achieve their ambitious growth plans and meet changing needs, whilst also managing the major payables and financial operations challenges brought with this.”