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Tipalti Unveils Cloud OCR to Invoice Processing Workflow at Accounts Payable & Procure-to-Pay Conference & ExpoPALO ALTO, Calif., Oct. 24, 2016 /PRNewswire/ -- IOFM APP2P Conference & Expo (Booth #417) -- Tipalti, the leader in supplier payments automation, is launching today the addition of Optical Character Recognition (OCR) technology to its invoice processing module, in time for the IOFM Accounts Payable & Procure-to-Pay Conference & Expo. At the conference in Las Vegas, visitors to the Tipalti booth will get to see Tipalti's new capability, as it slashes invoice processing times by up to 80% by delivering touchless invoice automation. The solution automatically scans inbound invoices from email and the Tipalti supplier portal, extracts the invoice details for processing into the invoice workflow, and triggers multiple organizational approvals. The invoice module is seamlessly integrated into Tipalti's end-to-end AP automation software, allowing finance departments to manage their entire global supplier payments operation with one holistic cloud platform. With this release, once invoice approvals are completed, AP staff can then easily schedule, manage, and execute cross-border supplier payments from Tipalti. Tipalti's solution then handles mass B2B payment runs across multiple payment methods and currencies, and delivers real-time payment reconciliation reporting synced directly into the ERP or accounting system of record. "We selected Tipalti as our provider to improve efficiency in our invoice and payment processing and to have an end-to-end accounts payable solution," says Jennifer Gastorf, Vice President and Chief Operating Officer of TradeHelm, a Chicago-based technical professional services agency. "As a fast-growing company, it was imprtant to use AP automation to enable our company to scale rapidly with our global growth. The new invoice text recognition feature and the overall AP software has been really valuable for our finance organization." Invoice Automation in the Cloud Tipalti's approach is driven entirely by cloud-based, machine-learning software that improves in accuracy every time it is used across the entire Tipalti customer population. Built-in intelligence adapts and learns as new invoices are scanned and processed, such as associating general ledger account codes with specific suppliers. Tipalti's touchless invoice processing seamlessly integrates with the Tipalti's AP platform to streamline the entire invoice-to-payment-to-reconciliation workflow:
"Any finance organization burdened by manual accounts payable processes knows how the heavy workload of managing supplier payment operations distracts finance from making progress on more important strategic initiatives while exposing the business to fraud, regulatory, and financial risk," says Tipalti CEO, Chen Amit. "Tipalti's invoice OCR reading capability, when used seamlessly with our entire supplier payments automation platform, gives finance hours back each and every day so that AP can focus on elevating their company's performance." To participate in a live webinar featuring touchless invoice management and how Tipalti can streamline the entire invoice-to-pay-to-reconciliation workflow, click the link to register: http://info.tipalti.com/20161102-Tipalti-Tour-Webinars-Registration-Page.html About Tipalti Tipalti is the only supplier payments automation solution to streamline all phases of the AP and payment management workflow in one holistic cloud platform. Tipalti makes it painless for accounts payable departments to manage their entire supplier payments operation. The solution addresses everything from supplier onboarding and vetting, to tax and regulatory compliance, invoice processing, payments to suppliers anywhere in the world in a wide range of payment methods and currencies, supplier payment status communications, to closing the loop with payment reconciliation and reporting. Innovative companies use Tipalti to eliminate up to 80% of their supplier payment workload, helping them scale their business efficiently with global growth, while strengthening financial and compliance controls and while enhancing the partner payment experience. Companies like GoDaddy, Eventbrite, Zumba, GoPro, Vimeo and hundreds of others trust Tipalti to elevate their global supplier payments operation. More information is available at tipalti.com. Contact: Scott Rosenblum Logo - http://photos.prnewswire.com/prnh/20160629/385169LOGO
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