SAN MATEO, Calif.--(BUSINESS WIRE)--Tipalti, the leading global payables automation platform, today announced new accounts payable partnerships to help advance the modernization of finance operations. These include Vindeo, an invoice financing and payroll funding solutions company, Teampay, a creator of virtual debit cards for business purchasing, and Sovos, a global leader in tax and business-to-government compliance software.
Vindeo provides businesses with lines of credit through invoice financing. With over 25 years of experience financing companies, Vindeo was one of the first funds offering solutions for middle market payers. Vindeo is a strategic lender for Tipalti's early payments automation solution, allowing businesses to easily offer early payments to their suppliers with minimal effort, while achieving industry-leading offer acceptance rates without impacting their own working capital.
“As a part of this partnership, we utilize Tipalti's white-labeled payables automation capability to further streamline our clients’ invoice funding processes, which in turn further expedites the experience for their payees,” explains Paul DeLuca, Co-founder at Vindeo. “White-labeling Tipalti and using its services on our back end, as well as expanding in EP lending as an asset class, has helped us to significantly better serve our customers.”
Teampay helps finance teams request, approve, and track purchasing in real-time. By partnering with Tipalti, Teampay’s customers will be able to extend their solution to further streamline their supplier onboarding and payment operations as they grow.
“We are pleased to have developed a relationship with Tipalti to help our clients better scale their global supplier payment processes,” says Andrew Hoag, CEO at Teampay. “Tipalti is a critical piece of the equation to solve our clients’ needs to control purchasing across the entire organization.”
Sovos is a tax compliance software company that works with companies with complex tax needs. Sovos and Tipalti are complementary services that, when joined together, help better service their joint clients by enhancing Tipalti’s tax compliance offerings and expediting Sovos’ services.
“Governments have gone digital, adding complexity to tax compliance and imposing new rules on data ownership, forcing businesses to adopt a new approach,” says Andrew Chi, Global Vice President of Alliances at Sovos. “Through the Tipalti-Sovos partnership, businesses can adapt quickly by utilizing our nimble software platforms, facilitating an end to end solution for 1099 and 1042-S reporting. By utilizing Tipalti for the tax data collection and validation, and Sovos for reporting and distribution, businesses can streamline the compliance process and eliminate the pressure of these new complexities.”
“As companies grow and transform, they need to modernize their finance operations to transition AP from a cost-center to a profit-center, while reducing tax, fraud, and regulatory compliance risk exposure. We are thrilled to partner with Vindeo, Teampay, and Sovos to further transform accounts payable processes and give our joint customers a best-in-class AP and supplier payments operation,” said Chen Amit, CEO and co-founder of Tipalti.
For more information, visit https://tipalti.com.
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 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 Amazon, Roku, Zumba, Docker, Twitter, GoDaddy, and Vimeo.