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Finance automation company Tipalti expands in Canada

Thursday, December 05, 2024 — 15:50:59 (EST)

FOSTER CITY, Calif., Dec. 5, 2024 /PRNewswire/ -- Today, leading global finance automation company Tipalti announced the launch of its localized solution for the Canadian market and registration as a money services business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), marking a significant milestone in its international expansion.

Since establishing a presence in Canada with its Vancouver office in 2020 and its Toronto office in 2022 to support its US headquarters, Tipalti has grown its Canadian workforce to over 300 employees and serves more than 100 customers in the region, including Article, The Fertility Partners, and TouchBistro. Building on its successful expansions in the UK (2022) and Europe (2023), this launch furthers Tipalti's commitment to supporting high-growth businesses worldwide.

With demand for efficient and streamlined financial processes rising, Tipalti's automated accounts payable and global payables solutions address these critical pain points. Research shows that nearly 60% of Canadian finance leaders find tedious manual workflows as a barrier to strategic work, with an additional 40% reporting lost productivity due to these inefficiencies. Tipalti's solutions reduce these challenges, helping finance teams unlock greater operational efficiency and focus on growth-driving initiatives across their organizations.

Tipalti's localized Canadian product caters to the unique needs of high-growth companies with tailored capabilities, including support for Electronic Funds Transfer (EFT) and Canada-domiciled funding accounts, which enable local bank transfers. These enhancements simplify existing supplier payment workflows and reduce friction, empowering more businesses across Canada to streamline their finance operations and achieve greater scalability.

"With Canada's economy projected to grow significantly in 2025, adopting innovative finance automation solutions is more important than ever for businesses aiming to increase their competitive edge," said Sam Barakat, Chief Revenue Officer at Tipalti. "Our localized offering and strategic financial partnerships equip Canadian companies with the tools they need to modernize workflows, improve efficiency, and foster growth. We are thrilled to continue making significant investments in the region and solidify our role as a trusted partner for Canada's fastest-growing businesses."

To learn more about Tipalti's localized Canadian solution, visit tipalti.ca.

Note: Tipalti's services are not currently available in Quebec.

About Tipalti

Tipalti is a global finance automation company helping finance teams drive business growth by automating and streamlining accounts payable, mass payments, procurement, and employee expenses in one connected suite. Tipalti takes the complexity, cost, and risk out of time-consuming financial workflows, making it easy for finance teams to collaborate with employees and suppliers. Tipalti partners with blue-chip banks and financial institutions such as Citi, Wells Fargo, J.P. Morgan and Visa, enabling global companies to efficiently and securely pay millions of suppliers across 196 countries, over 50 payment methods, and 120 currencies. Over 5,000 growth-minded companies globally use Tipalti's suite of solutions to reduce their manual finance workload by 80% and accelerate close by 25%, all while strengthening financial and spend controls. For more information, visit tipalti.com.

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Source: Company press release.