New Tipalti Multi-FX Software Ideal for Foreign Exchange and Currency Management

Tipalti, the leading global payables automation platform, has announced new capabilities that will make it easier for companies with global subsidiaries to seamlessly and securely manage their accounts payable data and processes at the entity level, while also simplifying foreign exchange and currency management requirements. As businesses grow and evolve, they often add entities by entering new markets, acquiring other businesses, or adding new products and services to diversify revenue streams. This organizational structure creates complex accounts payable structures for the finance organization to manage, introducing inefficiencies, and exposing the organization to fraud and compliance risk. The complexities quickly become time-consuming, are error-prone, and require manual processes to manage payees, payables tax flows, invoices, purchase orders, approvals, and payments across individual subsidiaries in a multi-entity environment with little or no visibility at the corporate level. The resulting delays can have a significant impact on payments, financial reporting, and reconciliation delaying financial close.