Tipalti launches automated supplier payment service

Using the Supplier Portal, any company can automate the payments for raw materials, rent, utilities, office supplies, independent contractors, and employees. The Supplier Portal allows the payer to invite its suppliers to a web-dashboard that prompts the suppliers to choose the preferred method by which they will be paid and enter any banking information associated with the selected method. The Supplier Portal also collects necessary tax forms (such as W9) from the supplier. The payer also has the option to add suppliers and their preferred payment method on their behalf.

The new cloud-based system is set to leverage the switch to electronic payments, to eliminate rejected payments, and reduce workload.

In June 2013, Tipalti unveiled that its automated solution supports global Automated Clearing House (ACH) payments to the 32 countries participating in the Single Euro Payments Area (SEPA).