California-based global payables automation platform Tipalti has launched NetNow to accelerate supply chain payments.
The new accounts payable solution aims to improve its clients’ supply chain relationships and financial health, Tipalti said in a July 17 press release.
Global finance organizations that use Tipalti to scale and automate their payables operations can access NetNow’s accelerated payments with no change to cash flow, proceeds or existing accounts payable processes.
For payees, NetNow accelerated payments can be used to reinvest back into their businesses, expand product lines, fund inventory, grow sales teams and more.
Tipalti, headquartered in San Mateo, said NetNow is now available as a seamless element of the Tipalti accounts payable solution.
“At Tipalti, we understand that supply chain health is incredibly important for companies to maintain competitiveness, as it impacts their ability to execute on business plans,” said Chen Amit, CEO and co-founder of Tipalti. “Supply chain financing is not a new concept. However, the frictionless way we have enabled it is. We are proud to be the only accounts payables automation vendor who offers this program embedded directly within its platform for easy payer and payee adoption.”
The company said customers will see improved supply chain health and supplier relationships by leveraging Tipalti to offer an option to their suppliers that provide timely access to cash without any additional paperwork or process change. NetNow also allows payees to choose on a payment-by-payment basis.
Tipalti announced in March that it was expanding its reach into the market by partnering with three B2B companies: ERP company Big Bang ERP, spend management firm Procurify and cash flow management company Tesorio.
It also announced an upgrade to its PayPal services that allow companies to use PayPal to pay their suppliers. In February, Tiplati announced the launch of Multi-FX offering customers the ability to fund their virtual accounts in a single currency and convert it to the local currency before the payout.