SAN MATEO, Calif.--(BUSINESS WIRE)--Tipalti, the leading payables automation solution, today announced the addition of purchase order (PO) matching to the platform’s end-to-end AP workflow. Increasingly embraced as a finance best practice, the new capability helps finance teams eliminate overspending, strengthen internal controls, reduce time and effort spent on invoice approval, and simplify audits. Tipalti takes a uniquely holistic approach to the problem by seamlessly integrating PO matching with the platform’s supplier onboarding, invoice processing, global supplier payments, AP compliance, and reconciliation capabilities, ultimately providing finance teams with completely streamlined accounts payable operations.
Tipalti’s modern user experience ensures broad successful adoption of the PO policy across the supplier base, maximizing ROI potential. Driven by intuitive design cues, Tipalti’s matching exception console streamlines exception reconciliation by enabling the user to view PO and bill lines side-by-side and drag-and-drop line items. It also offers a smart matching engine and in-email approvals, which accelerates invoice processing, improves on-time payment rates, and maximizes discount opportunities.
“PO matching is an increasingly important function in the AP process. However, most invoice matching is still largely done manually today, which is a time-consuming, inaccurate, and labor-intensive approach,” said Chen Amit, CEO of Tipalti. “Our automated approach saves organizations significant money and time, ensures purchase authorization, and eliminates the possibility of paying incorrect, duplicate, or fraudulent invoices. Most importantly, the entire experience is intuitive and integrated to ensure high policy adoption rates that streamline the complete AP operation.”
Other key Tipalti PO matching capabilities include:
- Two-way and three-way auto-match based on header and line levels using sophisticated matching rules
- Support for PO and non-PO invoices, with configurable rules that align with company matching policies, by dollar amount or supplier account
- Automatic PO coding populates PO details on invoices
- Configurable tolerance thresholds, by dollar or percent, to identify freight costs and tax amounts
- Customizable exception rules route invoices that cannot be auto-matched based on the established tolerance ranges, to ensure fast approvals.
"We selected Tipalti because they were the only solution on the market with the vision of a truly end-to-end platform to automate the entire accounts payable operation,” said Jason Chen, Vice President of Finance and Operations of Exxact. “Their new PO matching offering is further testament of their ability to deliver on that unique approach. It is the most modern and intuitive solution I have seen and will help our financial operation gain even more efficiencies, while eliminating costs.”
For more information on Tipalti’s PO matching capabilities, go to https://tipalti.com/product/po-matching/
About Tipalti
Tipalti is the only payables automation solution to streamline all phases of the accounts payable workflow in one holistic cloud platform. Tipalti makes it effortless for finance organizations including Amazon, Roku, GoPro, Zumba, Twitter, and GoDaddy 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. https://tipalti.com