Tipalti is reducing staffing by 11%, according to the website calcalistech.com which reported the news on January 11, 2023. The layoffs amount to 123 employees from a total of 1,068. According to CrunchBase, Tipalti has taken in $565 million from 14 investors since being founded in 2010.
Tipalti integrates with numerous ERP systems, including Netsuite, Sage Intacct, Microsoft Dynamics, Sage 50, Sage 100, Sage X3, and Sage 300.
The company streamlines accounts payable payments and claims to eliminate 80% of supplier payment workload. Their last round of funding was in December 2021 for $270 million at an $8.3 billion valuation.
In September 2021, Tipalti reported passing the 2,500-customer mark.
From the company’s website:
Tipalti comes from the Hebrew expression for “We handled it.” Tipalti is the only company handling both Global Partner Payments and Accounts Payable workflows for high-velocity companies across the entire financial operations cycle: onboarding and managing global suppliers, instituting procurement controls, streamlining invoice processing and approvals, executing payments around the world and reconciling payables data across a multi-subsidiary finance organization. Tipalti enables high-growth companies to scale quickly by making payables strategic with operational, compliance, and financial controls. Companies can efficiently and securely pay thousands of partners and suppliers in 196 countries within minutes. Thousands of companies, such as Amazon Twitch, GoDaddy, Roku, WordPress.com, and ZipRecruiter use Tipalti to reduce operational workload by 80% and accelerate the financial close by 25%, while improving partner visibility and strengthening financial and spend controls. For more information, visit tipalti.com.
