Highly recommend Tipalti!
October 03, 2023

Highly recommend Tipalti!

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Modules Used

  • Invoice Processing
  • Payments
  • PO Management (Approve)

Overall Satisfaction with Tipalti

Our Company uses Tipalti to process payments. Previously, we processed payments out of NetSuite, our accounting ERP. Tipalti has made things much more streamlined and easier to manage. All invoice records, approvals and audit history (upload date, approved by individual and date, etc) are housed in Tipalti as well as payment batch details. Having everything in one place saved us a lot of time from pulling support during audit season. Whereas, previously, approvals were obtained via email, payment information was stored in the banking transaction gateway and invoice support were stored in NetSuite. Invoice and payment records also sync to NetSuite, making cash and AP reconciliations easy and automated. This allows us more time during month-end to perform completeness checks, and less time booking Bill and Payment transactions. Additionally, supplier onboarding is much more efficient. Vendors can easily submit their information and update changes in banking information directly through the supplier login in Tipalti. Tipalti also handles payments in multi-currencies, eliminating the complexity of international payments.

Pros

  • All invoice records, approvals and audit history (upload date, approved by individual and date, etc) are housed in Tipalti as well as payment batch details. Having everything in one place saved us a lot of time from pulling support during audit season.
  • Invoice and payment records also sync to NetSuite, making cash and AP reconciliations easy and automated. This allows us more time during month-end to perform completeness checks, and less time booking Bill and Payment transactions.
  • Additionally, supplier onboarding is much more efficient. Vendors can easily submit their information and update changes in banking information directly through the supplier login in Tipalti.

Cons

  • In the PO matching queue, there is some clunkiness surrounding updating PO lines. For example, if you need to delete PO lines picked up from the invoice, you currently have to delete each line individually, instead of being able to select multiple and delete.
  • Sometimes PO numbers do not properly pick up from the OCR system. For example, the OCR might pick up "PO 18535" instead of "18535". This causes the AP team to have to manually link the PO, creating an extra step.
  • For PO-backed Invoices that require you to manually type in the PO amount, there is no option to save your inputs. If there are any changes to the match details (i.e. linking another PO, or unlinking a PO) all inputs are reset to blank.
  • If there are non PO line items for an invoice that is in the PO matching queue, there is no option to select a separate department code for that line item.
  • Tipalti has helped saved time with vendor onboarding and easy access to view onboarding status.
  • Tipalti helps manage and organize invoice approval and processing.
  • Tipalti has saved time in our bank reconciliation process.
Payment processing and funding is very easy. We have never had any hiccups with this process. Additionally, having payments sync directly into our ERP has been a huge time saver. There is a small handful of payment transactions (3-4) that encounter sync errors and do not properly sync into our ERP each month. However, Tipalti has a sync error log and also generates a unique payment batch identifier that helps easily detect which transactions did not sync over.
Tipalti has helped us save time with recording invoice records and payment transactions and allowed more time during month-close to perform other analyses such as completeness checks. Tipalti has also helped manage approval workflows in one place, which has reduced time spent digging through emails or looking for file attachments.
Previously, our Company housed all invoices and approvals in NetSuite. This was a very clunky process which often resulted in duplicated work. Approvals were obtained through email and attached as a file to invoice records in NetSuite. Whereas, in Tipalti, you can view the entire audit history by simply clicking into an invoice.

Do you think Tipalti delivers good value for the price?

Yes

Are you happy with Tipalti's feature set?

Yes

Did Tipalti live up to sales and marketing promises?

Yes

Did implementation of Tipalti go as expected?

Yes

Would you buy Tipalti again?

Yes

Tipalti would not be well suited if you have many vendors that send one invoice for multiple subsidiaries. Each invoice is tied to one subsidiary. As such, if you have an invoice for multiple subsidiaries, you would have to create an intercompany entry to reallocate those expenses in your ERP system.

Tipalti Feature Ratings

Accounts Payable
9.7
Automated Accounts Payable Processes
10
Vendor Management
9
Tax Form Preparation
10
Payment Management
9.6
Customizable Approval Policies
10
Financial Document Management
10
Payment Status Tracking
10
Payment Audit Trail
10
Duplicate Bill Detection
10
Advanced OCR
7
Electronic Funds Transfer
10

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