Fairmarkit vs. Tipalti

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Fairmarkit
Score 10.0 out of 10
Enterprise companies (1,001+ employees)
Fairmarkit is an autonomous sourcing platform that transforms tail spend and strategic spend so organizations can source more competitively at scale. It integrates with ERP and P2P systems to automate manual source-to-award workflows so procurement teams can manage more events and reduce cycle times by without adding resources. Fairmarkit’s AI-powered supplier recommendations find the best-fit suppliers for events by leveraging an organization’s procurement data,…N/A
Tipalti
Score 7.5 out of 10
Mid-Size Companies (51-1,000 employees)
Tipalti automates critical financial processes to drive efficiency, including accounts payable, mass payments, procurement, and expenses, all on one global finance automation platform that grows with the organization, automating, de-risking and simplifying finance.
$129
per month
Pricing
FairmarkitTipalti
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
FairmarkitTipalti
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesYes
Entry-level Setup FeeNo setup feeRequired
Additional DetailsPricing starts at $149 per month for the platform fee. Users can upgrade to Tipalti's more advanced capabilities as their businesses gets more complex. The Tipalti pricing model is designed to grow with the user's company. Advanced features such as W-8 tax forms, international tax IDs, or multi-entity payables are available as needed.
More Pricing Information
Community Pulse
FairmarkitTipalti
Features
FairmarkitTipalti
Payment Management
Comparison of Payment Management features of Product A and Product B
Fairmarkit
-
Ratings
Tipalti
8.8
62 Ratings
17% above category average
Customizable Approval Policies00 Ratings8.750 Ratings
Financial Document Management00 Ratings8.047 Ratings
Payment Status Tracking00 Ratings9.259 Ratings
Payment Audit Trail00 Ratings9.053 Ratings
Duplicate Bill Detection00 Ratings9.052 Ratings
Advanced OCR00 Ratings8.645 Ratings
Electronic Funds Transfer00 Ratings9.348 Ratings
Accounts Payable
Comparison of Accounts Payable features of Product A and Product B
Fairmarkit
-
Ratings
Tipalti
8.4
55 Ratings
20% above category average
Automated Accounts Payable Processes00 Ratings8.952 Ratings
Vendor Management00 Ratings9.052 Ratings
Tax Form Preparation00 Ratings7.532 Ratings
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Score 8.8 out of 10
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User Ratings
FairmarkitTipalti
Likelihood to Recommend
10.0
(1 ratings)
8.5
(101 ratings)
Likelihood to Renew
-
(0 ratings)
9.1
(4 ratings)
Usability
-
(0 ratings)
8.8
(77 ratings)
Availability
-
(0 ratings)
9.1
(1 ratings)
Performance
-
(0 ratings)
8.2
(1 ratings)
Support Rating
-
(0 ratings)
7.3
(14 ratings)
Online Training
-
(0 ratings)
7.3
(2 ratings)
Implementation Rating
-
(0 ratings)
7.3
(3 ratings)
Configurability
-
(0 ratings)
7.3
(2 ratings)
Ease of integration
-
(0 ratings)
6.4
(1 ratings)
Product Scalability
-
(0 ratings)
6.4
(1 ratings)
Vendor post-sale
-
(0 ratings)
8.2
(1 ratings)
Vendor pre-sale
-
(0 ratings)
8.2
(1 ratings)
User Testimonials
FairmarkitTipalti
Likelihood to Recommend
Fairmarkit
Tooling, packaging, shipping supplies, and fasteners have given us the best results. Sourcing for food vending was not very successful.
Read full review
Tipalti
I would tell them that it manually syncs to ERPS. Additionally I would include the fact that you can pay multiple entities in one pay run allowing to be very efficient. I would also include that they can add rules to bill approvals or set up auto payments for certain vendors. Lastly, there are many reports you can run providing you will very informational data in seconds.
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Pros
Fairmarkit
  • compares bids
  • ranks potential supplier for each RFQ
  • messaging inside the app is more effective than emails
Read full review
Tipalti
  • Tipalti has a very user friendly interface, clearly laid out and easy to navigate
  • The audit trail feature is hugely helpful to track an invoice's progress through the system
  • Being able to schedule invoices to be paid exactly on their due date ensures we pay on time but not earlier than necessary
  • We were able to put in strong controls around changes to vendor data
Read full review
Cons
Fairmarkit
  • making customs fields have required input by the buyer
  • a little more flexibility in the reporting, driven by the user
Read full review
Tipalti
  • The report that provides the "Not payable" vendors does not work well for us, particularly because the sync to our ERP goes both ways, which means all of the employees also sync over to Tipalti and remain as Not Payable. So the list is very long, and I don't find a good use for it.
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Likelihood to Renew
Fairmarkit
No answers on this topic
Tipalti
Solid system performance. Suits our needs and solution provider very inclined to accept feedback and involve users in developing the solution to serve both the provider and the ultimate user. Tipalti has streamlined our process that was previously very manual and prone to error. Now there is transparency of information and role.
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Usability
Fairmarkit
No answers on this topic
Tipalti
Two-time Tipalti selector, implementor, and user. The payment features in the app saves many steps in the payment process. No longer do you have to set-up or upload payment information to your bank and then go back to your accounting system and mark items as paid. Tipalti does all of this with a click of a mouse. The payment feature is the stand out feature. Many vendors can process your invoices. Look at how at the payment process of others.....you will see.
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Reliability and Availability
Fairmarkit
No answers on this topic
Tipalti
Tipalti has always been responsive to our questions and concerns.
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Performance
Fairmarkit
No answers on this topic
Tipalti
No issues here. Generally has been pretty fast.
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Support Rating
Fairmarkit
No answers on this topic
Tipalti
Since I also work in customer support, I often have to contact Tipalti's team with questions from our users. Tipalti's support team has always been exceptionally helpful and it was a pleasure to communicate with them. I have always received prompt responses to any inquiries and they are excellent at solving our customers' issues within a short time
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Online Training
Fairmarkit
No answers on this topic
Tipalti
Tipalti provides great How to online guide
Read full review
Implementation Rating
Fairmarkit
No answers on this topic
Tipalti
The salesperson involved was involved in implementation which I found very helpful.
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Alternatives Considered
Fairmarkit
Fairmarkit brought a better value to the table that other competitors.
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Tipalti
From initial implementation through to user experience, Tipalti has been able to exceed our expectations in terms of its functionality and useability. We have found with other systems implemented in the past they did not match our expectations which resulted in us terminating these services.
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Contract Terms and Pricing Model
Fairmarkit
No answers on this topic
Tipalti
I did not make the decision to purchase this product.
Read full review
Scalability
Fairmarkit
No answers on this topic
Tipalti
We were given the option of only one integration.
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Return on Investment
Fairmarkit
  • Our 1X ROI was achieved in 4 months
  • After one year the savings exceeded our target
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Tipalti
  • Vendor onboarding has taken the responsibility from one person to the Vendor directly. This provides the vendor with the ability to enter their own banking information for payments and upload their Federal W9 form.
  • Vendors can upload their own invoices to the system, taking the possibility that our AP team did not receive an emailed or mailed invoice to upload. This also increases payment efficiency as the vendor's invoice is processed in a more timely manner.
  • AP can review invoices for accuracy and concentrate on how to code an invoice, rather than be a paper pusher or a data entry clerk. AP doesn't spend time searching for invoices that might be a duplicate, the system will communicate this on the software review process and if AP has uploaded by email the same invoice multiple times, an email will be sent to AP to indicate that the invoice was not uploaded due to duplication.
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ScreenShots

Fairmarkit Screenshots

Screenshot of Fairmarkit integrating directly into existing enterprise resource planning (ERP) and procure-to-pay (P2P) platforms to create a seamless buying experience. Choose requisitions to source through the platform seamlessly sends the RFx data to Fairmarkit.Screenshot of Fairmarkit's artificial intelligence recommended approved vendors that can provide the requested goods or services, that appears after importing or creating a requisition. Other non-registered vendors can be added from the Fairmarkit vendor ecosystem. After selecting vendors and submitting a request, Fairmarkit will handle soliciting and collecting bids.Screenshot of For RFP events, Fairmarkit can keep evaluation and scoring information in one place to make awarding decisions easier. Evaluators can evaluate and score all or select supplier responses. Supplier responses can be viewed side-by-side for fast comparison.Screenshot of Within 24 hours of sending a request, vendors can submit quotes which will be centralized in one place for processing. Machine learning algorithms will make recommendations based on the responses received. If the request has multiple items, the option can be awarded to one or more vendors, and that information will flow back into a connected ERP or P2P.Screenshot of Fairmarkit offers AI and automation in various ways to make sure that sourcing events is as easy as possible. Guided RFP creation will suggest sections and questions for RFP users to speed event creation.

Tipalti Screenshots

Screenshot of Intelligent invoicing workflowScreenshot of Mobile approvals for invoices and paymentsScreenshot of Brandable self-service supplier portal (including handling tax forms)Screenshot of Brandable self-service portal to collect and validate payment detailsScreenshot of Combined payment methods, currencies, and entities in a single payment fileScreenshot of an early payment, which can be offered to suppliers through email or the supplier portal