Accounts payable automation firm Tipalti announced a string of partnerships this week in deals that see the partner linking their own customers to Tipalti tools.
Tipalti said in a press release on Wednesday (July 25) that it struck deals with Vindeo, Teampay and Sovos. Invoice financing and payroll funding solutions company Vindeo will white-label Tipalti's AP automation solution for its clients; Vindeo already works with Tipalti as a lender for its early payments solution, which allows businesses to capture discounts by paying suppliers early.
Tipalti's early payment discount capture functionality launched last year, a solution the firm said led to a 15 percent adoption rate increase for the company.
Teampay, meanwhile, will offer Tipalti solutions in addition to its existing purchase request, approval and tracking capabilities. Finally, Sovos is augmenting its corporate tax compliance software offering with Tipalti's tools.
"As part of this partnership, we utilize Tipalti's white-labeled payables automation capability to further streamline our clients' invoice funding processes, which in turn further expedites the experience for their payees," said Vindeo Co-founder Paul DeLuca in a statement.
In another statement, Teampay CEO Andrew Hoag said Tipalti's AP solutions are "a critical piece of the equation to solve our clients' needs to control purchasing across the entire organization."
Sovos Global Vice President of Alliances Andrew Chi said the collaboration with Tipalti is part of its response to the digitization of government operations, including tax and compliance.
"Governments have gone global, adding complexity to tax compliance and imposing new rules on data ownership, forcing businesses to adopt a new approach," Chi said, adding that Tipalti's technology will provide tax data collection and validation for the Sovos solution.
Integration is a key component of Tipalti's strategy for growth. Earlier this year, the company announced a partnership with NetSuite, adding automated purchase order matching and multi-entity management capabilities into the NetSuite ERP platform.