Tipalti, the global payables solution, announced its 2022 results, highlighting significant growth in customer transactions, expanded office space and locations, and innovative new products.
Tipalti grew its overall customer base “to more than 3,000, helping total transactions to soar by 50% for a total payments volume of $43 billion.”
Its UK solution, launched in 2021, “contributed to this growth with more than 100 new customers signed since inception.”
New global customers “such as GoodRx, e.l.f. Cosmetics and Cloudinary joined a portfolio of clients with a 98% retention rate.”
2022 was also “a momentous year of product innovation and recognition for Tipalti. At its second annual Illuminate user conference,”
Tipalti unveiled the Tipalti Card, which “combines quick virtual card issuance with end-to-end supplier payments, allowing users to manage and control business spend across all payment methods while achieving instant credit card reconciliation.”
The simplicity and convenience of the Tipalti Card further “show the company’s ability to address the pain points and complexities of the finance operation.”
The company “continued to rake in awards for solutions that are changing how companies around the world manage everything from AP to global payouts.”
In fact, Tipalti was “named to the Inc. 5000 list and Deloitte Fast 500 list for the fifth consecutive year and was one of only 15 companies to be named to Deloitte’s Fast 500 five years in a row.” Alongside Salesloft and Onit, Tipalti was also “one of only three companies to appear on both lists for the past five consecutive years.”
Major milestones for Tipalti include:
Product Enhancements and Integrations:
- Procurement: Tipalti launched an integration with Amazon Business to streamline the employee buying experience on Amazon – from purchase requests and approvals, to order fulfillment – and provide enhanced visibility and control to the finance and procurement teams. This integration not only helps teams to save money, but they no longer need to manage multiple supplier catalogs, saving them time.
- Bill Talk & Bill Docs: This innovation makes it effortless for buyers and approvers to collaborate while improving audit readiness and accelerating approval cycle times. Now, buyers, AP staff and business approvers can work with each other directly on the bill by exchanging questions and comments and attaching documents within Tipalti, all without needing to log in.
- Xero API Integration: Tipalti introduced an API-based integration with Xero for near real-time, automated data updates and two-way syncing between Tipalti and Xero accounting, allowing companies to maximize efficiency and accelerate their financial close.
2022 saw several new leadership promotions “with Rob Israch becoming Tipalti’s first-ever President. Additionally, Paul Henderson was appointed Chief Accounting Officer and Todd McGuire was named Chief Human Resources Officer.”
Tipalti continued “to expand its footprint globally, growing and expanding its London and Tel Aviv offices as well as moving its North American headquarters to Foster City, California.”
The company also “opened new locations in Toronto, the Netherlands and Tbilisi, Georgia.”
Chen Amit, co-founder and CEO of Tipalti, said:
“2022 was a year that challenged companies around the globe, forcing many to reorganize their priorities and reassess their goals. In response, we honed in on how our products could better serve our customers struggling with the current economic realities. As a result, we continued to grow as a company and win market share. We doubled down on our commitment to our customers and put them at the center of our business. As we enter 2023, we will continue to make them a priority by introducing innovative solutions they need to thrive throughout these challenging times.”