Tipalti, the global finance automation platform, announced the general availability of Tipalti Expenses, a comprehensive solution for automating and managing employee spending and reimbursements globally.
The expense management solution “integrates with Tipalti’s platform, which automates AP, procurement, cards and mass global payments to improve financial visibility and reduce errors and fraud.”
Tipalti also announced the physical version of the Tipalti Card “for the U.S., giving users the choice of physical or virtual credit and debit cards.”
Tipalti Expenses leverages “the same technology users already trust for capabilities such as global payments, compliance checks and a single funding flow to reduce manual workloads by 80%.”
Businesses now have greater flexibility “to manage employee expenses anytime, anywhere through a web interface or the Tipalti mobile app, available for iOS and Android.”
Employees can quickly “snap and upload a picture of their receipts for review and rapid approval.”
Currently, finance teams spend “a disproportionate amount of time reimbursing employees around the world for their out-of-pocket expenses.”
As business leaders continue “to grapple with market fluctuations, a potential recession and other external factors, the need for automation and streamlined workflows has become more urgent.”
A recent Tipalti survey of CFOs found “that 70% are currently making or using digital technology investments to pursue finance automation, and over two-thirds (67%) agree that expenses are a very important area to apply digital technology.”
Rami Darouiche, Controller at T3 Micro, a creator of innovative styling tools, said:
“Tipalti Expenses … provides an easy-to-use interface for employees and managers and the ability to submit, approve and reimburse globally at lightning speed.”
Tipalti customers have already been reaping the benefits of Tipalti Expenses, including:
- Fast Global Reimbursements: With support in over 196 countries, 120 currencies and up to six payment methods, finance teams can quickly and securely reimburse employees no matter where they are in the world and in the currency of their choice.
- Auto ERP Sync and Reconciliation: Expense-based transactions and reimbursements are automatically captured, processed and categorized by general ledger (GL) expense type for better visibility and are automatically reconciled at the entity GL level within the ERP system.
- Reduced Errors and Fraud: Automated expense policies and embedded compliance checks ensure expenses are being submitted and reimbursed in accordance with company policies, helping enforce spending limits while ensuring compliance, minimizing fraud and reducing manual employee steps and finance workloads.