Managing any company’s books can be quite complicated. Depending on the size of the organization, it can be daunting. Further adding to that complexity is the fact that enterprises today operate on the global stage since eCommerce makes it easier than ever to sell across borders. That can make managing cash flow from concept to payments a headache.
To ease that pain, payments company Tipalti launched the AP Hub, a platform. CMO Rob Israch describes the AP Hub as a central place where every aspect of payments is brought into one central cloud-based location. Israch said that tasks as far ranging as supplier management, invoice processing and regulatory compliance can be managed through Tiaplti’s AP Hub.
Making early payments is something that suppliers and vendors alike see as a benefit and is one of the main features built into the AP Hub, Israch told PYMNTS. The AP Hub’s multi-entity offering splits headquarters and individual sub-entities’ preferences, allowing for the team at HQ to control the finance side and sub-entities to determine brand preferences, including the types of currencies used and workflow capabilities.
Israch said the advantage to these new offerings is it encompasses one holistic system for all parties to manage finances throughout the payment life cycle, as well as helping to manage fraud and audit risks.
“Tipalti’s vision is to free the finance and payments team from the minutiae and complexity and risk involved in today’s accounts payable and supplier payments workflow,” Israch said. “Whether it’s cross-border payments, tax compliance, supplier onboarding, invoice processing, we look at the entire end-to-end accounts payable workflow and we automate it all, including execution of payments in the U.S. and overseas.”
Israch said the AP Hub is designed to further streamline the finance operations of its existing clients, including Twitter, Vimeo, GoDaddy, Go Pro, Roku and Amazon.