Tipalti launches NetNow to accelerate supply chain payments
NetNow enables suppliers to be paid earlier with data-driven invoice analysis for faster access to capital, without impacting payer working capital
San Mateo, CA – July 17, 2019 – Tipalti, the leading global payables automation platform, today announced NetNow, a new accelerated supplier payments offering. NetNow is now available as a seamless element of the Tipalti accounts payable solution to improve Tipalti’s clients’ supply chain relationships and financial health.
For the finance organizations who use Tipalti to scale and automate their entire payables operation, the accelerated funding process is frictionless, with no change to cash flow, proceeds, or existing accounts payable processes. Customers will reap the benefits of better supply chain health and supplier relationships by leveraging Tipalti to offer an option to their suppliers that provides timely access to cash without any additional paperwork or process change headaches. The additional value created by allowing suppliers to access NetNow’s accelerated payments helps finance teams maintain net payment terms or even consider extending them, providing working capital benefits.
For payees, Tipalti NetNow accelerated payments can be used to reinvest back into their businesses, to expand product lines, fund inventory, and grow sales teams, among other possibilities. Additionally, while many other solutions require payees to accept all payments early, with NetNow, payees can also choose on a payment-by-payment basis if they would like to take advantage of the offering.
“At Tipalti, we understand that supply chain health is incredibly important for companies to maintain competitiveness, as it impacts their ability to execute on business plans,” said Chen Amit, CEO and co-founder of Tipalti. “Supply chain financing is not a new concept. However, the frictionless way we have enabled it is. We are proud to be the only accounts payables automation vendor who offers this program embedded directly within its platform for easy payer and payee adoption.”
“Cash flow for our business is crucial, and the process can be complex when trying to sell an invoice for an earlier payment. Tipalti NetNow makes it easy,” said Dalia Kadoch of Language Services by Arts and Letters LLC. “We’re literally paid in a couple of days through a few clicks instead of waiting a month or two. If our other clients had this in place, we’d jump to take advantage of it.”
"Tipalti NetNow may be the most streamlined, risk-free approach to an early payment program for accounts payable and helps extend our terms while accelerating cash to our payees,” said Matt Burden, Vice President of Strategic Initiatives of FlexOffers. “It completely removes the friction around negotiation and acceptance with our suppliers.”
Tipaltiis the only payables automation solution to streamline all phases of the global payables workflow in one holistic cloud platform. Tipalti makes it painless for finance departments to manage their entire supplier payments operation. Leading companies use Tipalti to eliminate up to 80% of their supplier payments workload and accelerate financial close by 25%, helping them enhance the partner payment experience, scale their businesses efficiently with global growth, and strengthen financial and tax compliance controls. Hundreds of companies trust Tipalti to transform their supplier payment operations including Amazon Twitch, Royal Caribbean, Roku, Zumba, Outbrain, Seeking Alpha, GoDaddy, United Language Group, and Foursquare.