Payables automation company Tipalti said that it now has the ability to integrate with all enterprise resource planning (ERP) technologies, according to a Wednesday (May 5) announcement.
Acumatica, SAP Business ByDesign, SAP Business One, Sage 300, Sage X3, Sage 100, Sage 50, Xero, QuickBooks Desktop, Microsoft Dynamics GP, Microsoft Dynamics NAV and Microsoft Dynamics 365 Business Central are among “notable” ERP connections, the announcement noted.
“An ERP system is one of a company’s most valuable business investments, and payables departments need to have an integrated philosophy that encompasses the entire end-to-end process,” Tipalti Chief Product Officer Roby Baruch said in the announcement. “We’re excited to be open for integration with any ERP system, making scalable, modern payables capabilities accessible to every company.”
Tipalti provides a customizable connection that syncs bills and bill payment information between a company’s ERP technology and the Tipalti system with little intervention from information technology (IT).
“This new ERP integration capability from Tipalti exposes their modern AP automation capabilities to a much larger segment of fast-growing mid-market businesses,” Kevin Permenter, research manager, enterprise applications at IDC said in the announcement.`
According to Tipalti, it is the only firm to work on AP in addition to mass pay processes for “high-velocity companies” throughout the complete financial operations cycle.
The news comes as Tipalti unveiled its acquisition of Approve.com, the cloud procurement technology firm, for an undisclosed price. The arrangement is expected to close early in Q2 2021. Approve.com supplies “an intuitive yet comprehensive” procurement technology, according to a previous press release.
Tipalti hit the big time with $150 million in new funding and a $2 billion valuation, per news in October. That put the West Coast financial technology firm well into “unicorn” status, meaning that it has a valuation of over $1 billion. Durable Capital Partners of Maryland headed up the funding round.
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