Tipalti chooses BillingPlatform as its enterprise billing solution

As mentioned in the official press release, BillingPlatform was selected for its solution flexibility, built-in data mediation capabilities, and third-party integrations that support Tipalti’s critical billing and revenue management processes.

Tipalti is a global accounts payable (AP) solution that helps all phases of the AP and payment management workflow in one holistic cloud platform. It enables companies to scale by providing payables with complete operational, compliance, and financial controls. Tipalti’s solution addresses everything from supplier onboarding and vetting, to compliance, invoice processing, payments made globally in a range of methods and currencies and payment reconciliation and reporting.

With global customers serving multiple industries, including communications, transportation, media and entertainment, retail, finance, and software, BillingPlatform is an enterprise billing and revenue management solution on the market that enables enterprises to monetise any type of product offering, from simple subscriptions to sophisticated usage-based pricing models and everything in between. The flexibility of the platform offers enterprises control of how they differentiate in the market, maximise profitability, reduce operational costs, and improve the customer experience.

BillingPlatform’s offering

In December 2021, BillingPlatform has added new capabilities to its Revenue Recognition solution. The new capabilities are specifically designed for accounting staff to automate the entire billing and revenue recognition process in a single solution that leverages the same data model and delivers real-time revenue management, helping to reduce errors, mitigate company risk by adhering to accounting standards, and accelerate the close process.

BillingPlatform’s Revenue Recognition solution manages transaction complexity of subscription, usage, and one-time offers with a rule-based engine for revenue scheduling, which gives finance teams the flexibility to allocate transactions to specific general ledger (GL) accounts, to specify how and when revenue will be recognised. Users can also create custom revenue milestones and schedules that are unique to their customer base and manage revenue recognition across multiple subsidiaries and geographies.

Tipalti’s offerings

In December 2021, Tipalti has raised USD 270 million in series F funding at a valuation of USD 8.3 billion, bringing total funding raised to date to just over USD 550 million. Tipalti was planning to use the funding to accelerate its product roadmap and customer operations, as well as expand globally to transform global financial operations for high-velocity customers.

In June 2022, Tipalti has introduced Bill Talk and Bill Docs, two extents to its AP automation solution, which further modernised the invoice approval process. The latest innovations make it easier for buyers and approvers to collaborate, while improving audit readiness and accelerating approval cycle times.

When approving invoices, it's important for buyers and approvers to easily connect and work together. Today, most of these dialogues are held outside the context of the bill, leading to challenges when tracking Q&As, repeated back and forth interactions, and delays.

The Bill Talk and Bill Docs product innovations allow buyers, AP staff, and business approvers to work with each other directly on the bill by exchanging questions and comments and attaching documents within Tipalti, all without needing to log in.